Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

The Center For Debt Management
Center4DebtManagement.com ... Always open 24 / 7

Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
the most trusted law firm in America with over 15 years of experience is Lexington Law Firm.

For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources



TITLE 11–BANKRUPTCY

CHAPTER 7–LIQUIDATION

Sub Chapter IV – Commodity Broker Liquidation

Sec. 766. Treatment of customer property

  (a) The trustee shall answer all margin calls with respect to a 
specifically identifiable commodity contract of a customer until such 
time as the trustee returns or transfers such commodity contract, but 
the trustee may not make a margin payment that has the effect of a 
distribution to such customer of more than that to which such customer 
is entitled under subsection (h) or (i) of this section.
    (b) The trustee shall prevent any open commodity contract from 
remaining open after the last day of trading in such commodity contract, 
or into the first day on which notice of intent to deliver on such 
commodity contract may be tendered, whichever occurs first. With respect 
to any commodity contract that has remained open after the last day of 
trading in such commodity contract or with respect to which delivery 
must be made or accepted under the rules of the contract market on which 
such commodity contract was made, the trustee may operate the business 
of the debtor for the purpose of--
        (1) accepting or making tender of notice of intent to deliver 
    the physical commodity underlying such commodity contract;
        (2) facilitating delivery of such commodity; or
        (3) disposing of such commodity if a party to such commodity 
    contract defaults.

    (c) The trustee shall return promptly to a customer any specifically 
identifiable security, property, or commodity contract to which such 
customer is entitled, or shall transfer, on such customer's behalf, such 
security, property, or commodity contract to a commodity broker that is 
not a debtor under this title, subject to such rules or regulations as 
the Commission may prescribe, to the extent that the value of such 
security, property, or commodity contract does not exceed the amount to 
which such customer would be entitled under subsection (h) or (i) of 
this section if such security, property, or commodity contract were not 
returned or transferred under this subsection.
    (d) If the value of a specifically identifiable security, property, 
or commodity contract exceeds the amount to which the customer of the 
debtor is entitled under subsection (h) or (i) of this section, then 
such customer to whom such security, property, or commodity contract is 
specifically identified may deposit cash with the trustee equal to the 
difference between the value of such security, property, or commodity 
contract and such amount, and the trustee then shall--
        (1) return promptly such security, property, or commodity 
    contract to such customer; or
        (2) transfer, on such customer's behalf, such security, 
    property, or commodity contract to a commodity broker that is not a 
    debtor under this title, subject to such rules or regulations as the 
    Commission may prescribe.

    (e) Subject to subsection (b) of this section, the trustee shall 
liquidate any commodity contract that--
        (1) is identified to a particular customer and with respect to 
    which such customer has not timely instructed the trustee as to the 
    desired disposition of such commodity contract;
        (2) cannot be transferred under subsection (c) of this section; 
    or
        (3) cannot be identified to a particular customer.

    (f) As soon as practicable after the commencement of the case, the 
trustee shall reduce to money, consistent with good market practice, all 
securities and other property, other than commodity contracts, held as 
property of the estate, except for specifically identifiable securities 
or property distributable under subsection (h) or (i) of this section.
    (g) The trustee may not distribute a security or other property 
except under subsection (h) or (i) of this section.
    (h) Except as provided in subsection (b) of this section, the 
trustee shall distribute customer property ratably to customers on the 
basis and to the extent of such customers' allowed net equity claims, 
and in priority to all other claims, except claims of a kind specified 
in section 507(a)(1) of this title that are attributable to the 
administration of customer property. Such distribution shall be in the 
form of--
        (1) cash;
        (2) the return or transfer, under subsection (c) or (d) of this 
    section, of specifically identifiable customer securities, property, 
    or commodity contracts; or
        (3) payment of margin calls under subsection (a) of this 
    section.

Notwithstanding any other provision of this subsection, a customer net 
equity claim based on a proprietary account, as defined by Commission 
rule, regulation, or order, may not be paid either in whole or in part, 
directly or indirectly, out of customer property unless all other 
customer net equity claims have been paid in full.
    (i) If the debtor is a clearing organization, the trustee shall 
distribute--
        (1) customer property, other than member property, ratably to 
    customers on the basis and to the extent of such customers' allowed 
    net equity claims based on such customers' accounts other than 
    proprietary accounts, and in priority to all other claims, except 
    claims of a kind specified in section 507(a)(1) of this title that 
    are attributable to the administration of such customer property; 
    and
        (2) member property ratably to customers on the basis and to the 
    extent of such customers' allowed net equity claims based on such 
    customers' proprietary accounts, and in priority to all other 
    claims, except claims of a kind specified in section 507(a)(1) of 
    this title that are attributable to the administration of member 
    property or customer property.

    (j)(1) The trustee shall distribute customer property in excess of 
that distributed under subsection (h) or (i) of this section in 
accordance with section 726 of this title.
    (2) Except as provided in section 510 of this title, if a customer 
is not paid the full amount of such customer's allowed net equity claim 
from customer property, the unpaid portion of such claim is a claim 
entitled to distribution under section 726 of this title.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2619; Pub. L. 97-222, Sec. 19, 
July 27, 1982, 96 Stat. 240; Pub. L. 98-353, title III, Sec. 489, July 
10, 1984, 98 Stat. 383.)


                      Historical and Revision Notes

                         legislative statements

    Sections 765 and 766 of the House amendment represent a 
consolidation and redraft of sections 765, 766, 767, and 768 of the 
House bill and sections 765, 766, 767, and 768 of the Senate amendment. 
In particular, section 765(a) of the House amendment is derived from 
section 765(a) of the House bill and section 767(a) of the Senate 
amendment. Under section 765(a) of the House amendment customers are 
notified of the opportunity to immediately file proofs of claim and to 
identify specifically identifiable securities, property, or commodity 
contracts. The customer is also afforded an opportunity to instruct the 
trustee regarding the customer's desires concerning disposition of the 
customer's commodity contracts. Section 767(b) [probably should be 
765(b)] makes clear that the trustee must comply with instructions 
received to the extent practicable, but in the event the trustee has 
transferred commodity contracts to a commodity broker, such instructions 
shall be forwarded to the broker.
    Section 766(a) of the House amendment is derived from section 768(c) 
of the House bill and section 767(f) of the Senate amendment. Section 
766(b) of the House amendment is derived from section 765(d) of the 
House bill, and section 767(g) of the Senate amendment. Section 766(c) 
of the House amendment is derived from section 768(a) of the House bill 
and section 767(e) of the Senate amendment. Section 766(d) of the House 
amendment is derived from section 768(b) of the House bill and the 
second sentence of section 767(e) of the Senate amendment.
    Section 766(e) of the House amendment is derived from section 765(c) 
of the House bill and sections 767(c) and (d) of the Senate amendment. 
The provision clarifies that the trustee may liquidate a commodity 
contract only if the commodity contract cannot be transferred to a 
commodity broker under section 766(c), cannot be identified to a 
particular customer, or has been identified with respect to a particular 
customer, but with respect to which the customer's instructions have not 
been received.
    Section 766(f) of the House amendment is derived from section 766(b) 
of the House bill and section 767(h) of the Senate amendment. The term 
``all securities and other property'' is not intended to include a 
commodity contract. Section 766(g) of the House amendment is derived 
from section 766(a) of the House bill. Section 766(h) of the House 
amendment is derived from section 767(a) of the House bill and section 
765(a) of the Senate amendment. In order to induce private trustees to 
undertake the difficult and risky job of liquidating a commodity broker, 
the House amendment contains a provision insuring that a pro rata share 
of administrative claims will be paid. The provision represents a 
compromise between the position taken in the House bill, subordinating 
customer property to all expenses of administration, and the position 
taken in the Senate amendment requiring the distribution of customer 
property in advance of any expenses of administration. The position in 
the Senate amendment is rejected since customers, in any event, would 
have to pay a brokerage commission or fee in the ordinary course of 
business. The compromise provision requires customers to pay only those 
administrative expenses that are attributable to the administration of 
customer property.
    Section 766(i) of the House amendment is derived from section 767(b) 
of the House bill and contains a similar compromise with respect to 
expenses of administration as the compromise detailed in connection with 
section 766(h) of the House amendment. Section 766(j) of the House 
amendment is derived from section 767(c) of the House bill. No 
counterpart is contained in the Senate amendment. The provision takes 
account of the rare case where the estate has customer property in 
excess of customer claims and administrative expenses attributable to 
those claims. The section also specifies that to the extent a customer 
is not paid in full out of customer property, that the unpaid claim will 
be treated the same as any other general unsecured creditor.
    Section 768 of the Senate amendment was deleted from the House 
amendment as unwise. The provision in the Senate amendment would have 
permitted the trustee to distribute customer property based upon an 
estimate of value of the customer's account, with no provision for 
recapture of excessive disbursements. Moreover, the section would have 
exonerated the trustee from any liability for such an excessive 
disbursement. Furthermore, the section is unclear with respect to the 
customer's rights in the event the trustee makes a distribution less 
than the share to which the customer is entitled. The provision is 
deleted in the House amendment so that this difficult problem may be 
handled on a case-by-case basis by the courts as the facts and 
circumstances of each case require.
    Section 769 of the Senate amendment is deleted in the House 
amendment as unnecessary. The provision was intended to codify Board of 
Trade v. Johnson, 264 U.S. 1 (1924) [Ill.1924, 44 S.Ct. 232]. Board of 
Trade against Johnson is codified in section 363(f) of the House 
amendment which indicates the only five circumstances in which property 
may be sold free and clear of an interest in such property of an entity 
other than the estate.
    Section 770 of the Senate amendment is deleted in the House 
amendment as unnecessary. That section would have permitted commodity 
brokers to liquidate commodity contracts, notwithstanding any contrary 
order of the court. It would require an extraordinary circumstance, such 
as a threat to the national security, to enjoin a commodity broker from 
liquidating a commodity contract. However, in those circumstances, an 
injunction must prevail. Failure of the House amendment to incorporate 
section 770 of the Senate amendment does not imply that the automatic 
stay prevents liquidation of commodity contracts by commodity brokers. 
To the contrary, whenever by contract, or otherwise, a commodity broker 
is entitled to liquidate a position as a result of a condition specified 
in a contract, other than a condition or default of the kind specified 
in section 365(b)(2) of title 11, the commodity broker may engage in 
such liquidation. To this extent, the commodity broker's contract with 
his customer is treated no differently than any other contract under 
section 365 of title 11.


                        senate report no. 95-989

    [Section 765] Subsection (a) of this section [enacted as section 
766(h)] provides that with respect to liquidation of commodity brokers 
which are not clearing organizations, the trustee shall distribute 
customer property to customers on the basis and to the extent of such 
customers' allowed net equity claims, and in priority to all other 
claims. This section grants customers' claims first priority in the 
distribution of the estate. Subsection (b) [enacted as section 766(i)] 
grants the same priority to member property and other customer property 
in the liquidation of a clearing organization. A fundamental purpose of 
these provisions is to ensure that the property entrusted by customers 
to their brokers will not be subject to the risks of the broker's 
business and will be available for disbursement to customers if the 
broker becomes bankrupt.
    As a result of section 765, a customer need not trace any funds in 
order to avoid treatment as a general creditor as was required by the 
Seventh Circuit in In re Rosenbaum Grain Corporation.
    Section 766 lists certain transfers which are not voidable by the 
trustee of a commodity broker. Subsection (a) exempts transfers approved 
by the Commission by rule or order, either before or after the transfer. 
It is expected that the Commission will use this power sparingly and 
only when necessary to effectuate the remedial purposes of this 
legislation, bearing in mind that the immediate transfer of customer 
accounts from bankrupt commodity brokers to solvent commodity brokers is 
one of the primary goals of this subchapter. The committee considered 
and rejected a provision in subsection (b) that would have exempted 
payments made to a commodity broker. The Commission may not by rule 
exempt such transfers. The Commission's prompt attention to the 
promulgation of such rules and regulations is expected.
    Subsection (b) [enacted as section 764(c)] provides for the 
nonavoidability of margin payments made by a commodity broker, other 
than a clearing organization. If such payments are made by or to a 
clearing organization, they are nonavoidable pursuant to subsection (c). 
All other margin payments made by a commodity broker, other than a 
clearing organization, are nonavoidable if they meet the conditions set 
forth in subsection (b). Subsections (b)(1) and (b)(2) parallel the 
requirements for avoidance of fraudulent transfers and obligations under 
section 548. Subsection (b)(3) adds a requirement that there be 
collusion between the transferee and transferor in order for such 
payments to be voidable. It would be unfair to permit recovery from an 
innocent commodity broker since such brokers are, for the most part, 
simply conduits for margin payments and do not retain margin for use in 
their operations. Subsection (b)(4) would permit recovery of a 
subsequent transferee only if it had actual knowledge at the time of 
that subsequent transfer of the scheme to defraud. Again it should be 
noted that if the transfer is a margin payment and the subsequent 
transferee is a clearing organization, the transfer is nonavoidable 
under section 766(c).
    Subsection (c) [enacted as section 548(d)(2)] overrules Seligson v. 
New York Produce Exchange, and provides as a matter of law that margin 
payments made by or to a clearing organization are not voidable.
    Section 767 sets forth the procedures to be followed by the trustee. 
It should be emphasized that many of the duties imposed on the trustee 
are required to be discharged by the trustee immediately upon his 
appointment. The earlier these duties are discharged the less potential 
market disruption can result.
    The initial duty of the trustee is to endeavor to transfer to 
another commodity broker or brokers all identified customer accounts 
together with the customer property margining such accounts, to the 
extent the trustee deems appropriate. Although it is preferable for all 
such accounts to be transferred, exigencies may dictate a partial 
transfer. The requirement that the value of the accounts and property 
transferred not exceed the customer's distribution share may necessitate 
a slight delay until the trustee can submit to the court, for its 
disapproval, an estimate of each customer's distribution share pursuant 
to section 768.
    Subsection (c) [enacted as section 766(e)] provides that 
contemporaneously with the estimate of the distribution share and the 
transfer of identified customer accounts and property, subsection (c) 
provides that the trustee should make arrangements for the liquidation 
of all commodity contracts maintained by the debtor that are not 
identifiable to specific customers. These contracts would, of course, 
include all such contracts held in the debtor's proprietory account.
    At approximately the same time, the trustee should notify each 
customer of the debtor's bankruptcy and instruct each customer 
immediately to submit a claim including any claim to a specifically 
identifiable security or other property, and advise the trustee as to 
the desired disposition of commodity contracts carried by the debtor for 
the customer.
    This requirement is placed upon the trustee to insure that producers 
who have hedged their production in the commodities market are allowed 
the opportunity to preserve their positions. The theory of the commodity 
market is that it exists for producers and buyers of commodities and not 
for the benefit of the speculators whose transactions now comprise the 
overwhelming majority of trades. Maintenance of positions by hedges may 
require them to put up additional margin payments in the hours and days 
following the commodity broker bankruptcy, which they may be unable or 
unwilling to do. In such cases, their positions will be quickly 
liquidated by the trustee, but they must have the opportunity to make 
those margin payments before they are summarily liquidated out of the 
market to the detriment of their growing crop. The failure of the 
customer to advise the trustee as to disposition of the customer's 
commodity contract will not delay a transfer of a contract pursuant to 
subsection (b) so long as the contract can otherwise be identified to 
the customer. Nor will the failure of the customer to submit a claim 
prevent the customer from recovering the net equity in that customer's 
account, absent a claim the customer cannot participate in the 
determination of the net equity in the account.
    If the customer submits instructions pursuant to subsection (a) 
after the customer's commodity contracts are transferred to another 
commodity broker, the trustee must transmit the instruction to the 
transferee. If the customer's commodity contracts are not transferred 
before the customer's instructions are received, the trustee must 
attempt to comply with the instruction, subject to the provisions of 
section 767(d).
    Under subsection (d) [enacted as section 766(e)], the trustee has 
discretion to liquidate any commodity contract carried by the debtor at 
any time. This discretion must be exercised with restraint in such 
cases, consistent with the purposes of this subchapter and good business 
practices. The committee intends that hedged accounts will be given 
special consideration before liquidation as discussed in connection with 
subsection (c).
    Subsection (e) [enacted as section 766(c)] instructs the trustee as 
to the disposition of any security or other property, not disposed of 
pursuant to subsection (b) or (d), that is specifically identifiable to 
a customer and to which the customer is entitled. Such security or other 
property must be returned to the customer or promptly transferred to 
another commodity broker for the benefit of the customer. If the value 
of the security or other property retained or transferred, together with 
any other distribution made by the trustee to or on behalf of the 
customer, exceeds the customer's distribution share the customer must 
deposit cash with the trustee equal to that difference before the return 
or transfer of the security or other property.
    Subsection (f) [enacted as section 766(a)] requires the trustee to 
answer margin calls on specifically identifiable customer commodity 
contracts, but only to the extent that the margin payment, together with 
any other distribution made by the trustee to or on behalf of the 
customer, does not exceed the customer's distribution share.
    Subsection (g) [enacted as section 766(b)] requires the trustee to 
liquidate all commodity futures contracts prior to the close of trading 
in that contract, or the first day on which notice of intent to deliver 
on that contract may be tendered, whichever occurs first. If the 
customer desires that the contract be kept open for delivery, the 
contract should be transferred to another commodity broker pursuant to 
subsection (b).
    If for some reason the trustee is unable to transfer a contract on 
which delivery must be made or accepted and is unable to close out such 
contract, the trustee is authorized to operate the business of the 
debtor for the purpose of accepting or making tender of notice of intent 
to deliver the physical commodity underlying the contract, facilitating 
delivery of the physical commodity or disposing of the physical 
commodity in the event of a default. Any property received, not 
previously held, by the trustee in connection with its operation of the 
business of the debtor for these purposes, is not by the terms of this 
subchapter specifically included in the definition of customer property.
    Finally, subsection (h) [enacted as section 766(f)] requires the 
trustee to liquidate the debtor's estate as soon as practicable and 
consistent with good market practice, except for specifically 
identifiable securities or other property distributable under subsection 
(e).
    Section 768 is an integral part of the commodity broker liquidation 
procedures outlined in section 767. Prompt action by the trustee to 
transfer or liquidate customer commodity contracts is necessary to 
protect customers, the debtor's estate, and the marketplace generally. 
However, transfers of customer accounts and property valued in excess of 
the customer's distribution share are prohibited. Since a determination 
of the customer's distribution share requires a determination of the 
customer's net equity and the total dollar value of customer property 
held by or for the account of the debtor, it is possible that the 
customer's distribution share will not be determined, and thus the 
customer's contracts and property will not be transferred, on a timely 
basis. To avoid this problem, and to expedite transfers of customer 
property, section 768 permits the trustee to make distributions to 
customers in accordance with a preliminary estimate of the debtor's 
customer property and each customer's distribution share.
    It is acknowledged that the necessity for prompt action may not 
allow the trustee to assemble all relevant facts before such an estimate 
is made. However, the trustee is expected to develop as accurate an 
estimate as possible based on the available facts. Further, in order to 
permit expeditious action, section 768 does not require that notice be 
given to customers or other creditors before the court approves or 
disapproves the estimate. Nor does section 768 require that customer 
claims be received pursuant to section 767(a) before the trustee may act 
upon and in accordance with the estimate. If the estimate is inaccurate, 
the trustee is absolved of liability for a distribution which exceeds 
the customer's actual distribution share so long as the distribution did 
not exceed the customer's estimated distribution share. However, a 
trustee may have a claim back against a customer who received more than 
its actual distribution share.


                         house report no. 95-595

    Section 765(a) indicates that a customer must file a proof of claim, 
including any claim to specifically identifiable property, within such 
time as the court fixes.
    Subsection (c) [of section 765 (enacted as section 766(e))] sets 
forth the general rule requiring the trustee to liquidate contractual 
commitments that are either not specifically identifiable or with 
respect to which a customer has not instructed the trustee during the 
time fixed by the court. Subsection (d) [enacted as section 766(b)] 
indicates an exception to the time limits in the rule by requiring the 
trustee to liquidate any open contractual commitment before the last day 
of trading or the first day during which delivery may be demanded, 
whichever first occurs, if transfer cannot be effectuated.
    Section 766(a) [enacted as section 766(g)] indicates that the 
trustee may distribute securities or other property only under section 
768. This does not preclude a distribution of cash under section 767(a) 
or distribution of any excess customer property under section 767(c) to 
the general estate.
    Subsection (b) [enacted as section 766(f)] indicates that the 
trustee shall liquidate all securities and other property that is not 
specifically identifiable property as soon as practicable after the 
commencement of the case and in accordance with good market practice. If 
securities are restricted or trading has been suspended, the trustee 
will have to make an exempt sale or file a registration statement. In 
the event of a private placement, a customer is not entitled to ``bid 
in'' his net equity claim. To do so would enable him to receive a 
greater percentage recovery than other customers.
    Section 767(a) [enacted as section 766(h)] provides for the trustee 
to distribute customer property pro rata according to customers' net 
equity claims. The court will determine an equitable portion of customer 
property to pay administrative expenses. Paragraphs (2) and (3) indicate 
that the return of specifically identifiable property constitutes a 
distribution of net equity.
    Subsection (b) [enacted as section 766(i)] indicates that if the 
debtor is a clearing organization, customer property is to be segregated 
into customers' accounts and proprietary accounts and distributed 
accordingly without offset. This protects a member's customers from 
having their claims offset against the member's proprietary account. 
Subsection (c)(1) [enacted as section 766(j)(1)] indicates that any 
excess customer property will pour over into the general estate. This 
unlikely event would occur only if customers fail to file proofs of 
claim. Subsection (c)(2) [enacted as section 766(j)(2)] indicates that 
to the extent customers are not paid in full, they are entitled to share 
in the general estate as unsecured creditors, unless subordinated by the 
court under proposed 11 U.S.C. 510.
    Section 768(a) [enacted as section 766(c)] requires the trustee to 
return specifically identifiable property to the extent that such 
distribution will not exceed a customer's net equity claim. Thus, if the 
customer owes money to a commodity broker, this will be offset under 
section 761(15)(A)(ii). If the value of the specifically identifiable 
property exceeds the net equity claim, then the customer may deposit 
cash with the trustee to make up the difference after which the trustee 
may return or transfer the customer's property.
    Subsection (c) [enacted as section 766(a)] permits the trustee to 
answer all margin calls, to the extent of the customer's net equity 
claim, with respect to any specifically identifiable open contractual 
commitment. It should be noted that any payment under subsections (a) or 
(c) will be considered a reduction of the net equity claim under section 
767(a). Thus the customer's net equity claim is a dynamic amount that 
varies with distributions of specifically identifiable property or 
margin payments on such property. This approach differs from the 
priority given to specifically identifiable property under subchapter 
III of chapter 7 by limiting the priority effect to a right to receive 
specific property as part of, rather than in addition to, a ratable 
share of customer property. This policy is designed to protect the small 
customer who is unlikely to have property in specifically identifiable 
form as compared with the professional trader. The CFTC is authorized to 
make rules defining specifically identifiable property under section 302 
of the bill, in title III.


                               Amendments

    1984--Subsec. (j)(2). Pub. L. 98-353 substituted ``section 726'' for 
``section 726(a)''.
    1982--Subsec. (a). Pub. L. 97-222, Sec. 19(a), inserted ``to such 
customer'' after ``distribution''.
    Subsec. (b). Pub. L. 97-222, Sec. 19(b), struck out ``that is being 
actively traded as of the date of the filing of the petition'' after 
``any open commodity contract'' and inserted ``the'' after ``rules of''.
    Subsec. (d). Pub. L. 97-222, Sec. 19(c), substituted ``the amount to 
which the customer of the debtor is entitled under subsection (h) or (i) 
of this section, then such'' for ``such amount, then the'' and ``the 
trustee then shall'' for ``the trustee shall''.
    Subsec. (h). Pub. L. 97-222, Sec. 19(d), inserted provision that 
notwithstanding any other provision of this subsection, a customer net 
equity claim based on a proprietary account, as defined by Commission 
rule, regulation, or order, may not be paid either in whole or in part, 
directly or indirectly, out of customer property unless all other 
customer net equity claims have been paid in full.


                    Effective Date of 1984 Amendment

    Amendment by Pub. L. 98-353 effective with respect to cases filed 90 
days after July 10, 1984, see section 552(a) of Pub. L. 98-353, set out 
as a note under section 101 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 365, 702, 761, 765 of this 
title; title 7 section 24.



Back Index Next

Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
the most trusted law firm in America with over 15 years of experience is Lexington Law Firm.

For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources

Go to Index of Related Articles and Resources!

Click Below To Check Out More Financial Resources

Return to Top

The Center For Debt Management™

Helping Consumers Save Money and Reduce Debt Is Our Only Business!™

We invite you to explore the sectors listed below. We promise that you'll find exceptional values, offers and resources in which to reduce your living expenses and to enjoy life!


Debt Management and Financial Services! The Internet's oldest and most comprehensive debt management agency! Resources for debt management, consumer credit counseling, debt consolidation, debt reduction settlements, legal aid, financial aid, loans and financing, credit repair, credit reports, insurance quotes, income sources, tax assistance, and more.

Established in 1989 and serving the online community since 1992!


This site was created and designed by Daniel A. Gelinas
Disclaimer and Privacy Policy      © Copyright  2007 "The Center For Debt Management"      Contact Us
Return to Top

Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software