Federal Rule of Bankruptcy Procedure

The Federal Rules of Bankruptcy Procedure are guidelines that govern how bankruptcy cases are handled in U.S. federal courts. They outline the steps individuals and businesses must follow when filing for bankruptcy, including how to submit documents, notifications to creditors, and the conduct of hearings. These rules aim to ensure fairness and efficiency in resolving debts, allowing individuals or businesses to reorganize their finances or eliminate debts under legal protection. Essentially, they provide a structured process to help people and organizations regain financial stability while meeting legal requirements.