Custodian-120 days prior to petition. Bad faith- petitioner pays damages. An order of relief suspends all collection activities. Suspension of all legal action occurs. Alimony, child support obligations must be paid.
Investigations begin to determine financial affairs of debtor.
Exempt property is determined. Core and Noncore proceedings. Core proceedings- decided by the bankruptcy judge. Noncore proceedings-resolved in state or federal courts. Purpose is to distribute the debtor s property and provide them with a fresh start.