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Appeal

In a bankruptcy case, an appeal may be defined as a request to the United States District Court or appellate panel to review a specific decision made by the bankruptcy court. Appeals may also be made to the Circuit Court of Appeals and lastly to the United States Supreme Court. Creditors may appeal decisions made by the bankruptcy court of they feel the decisions are unfair. An appeal allows a creditor a second chance to collect on debts. For example, a debt may be discharged by the bankruptcy court, and the creditor who holds the now discharged debt may decide to appeal the decision. A creditor may also appeal an automatic stay or other matters related to a bankruptcy filing.

Fast Facts

  • There were 226,413 bankruptcies filed during the fourth quarter of 2007.
  • In 2006, Americans charged around $1,950 billion dollars to their credit cards.

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