Index of Defined Terms
This site is dedicated to educating the public on the ins and outs of bankruptcy terminology. The menus to the side will link to lists of key terms. These definitions are for informational purposes only and not intended in any way shape or form to be legal advice. If you would like to retain an attorney, the authors highly encourage you to do so. Depending on where you are in the country, we may even be able to point you to ones that we know and trust. List of Terms to be Defined: 341 (Meeting of Creditors) Aliases Assets Automatic Stay Avoidable Transfers Bankruptcy Case Closing Chapter 11 Chapter 12 Chapter 13 Chapter 13 Plan (Plan) Chapter 7 Co-Debtor Collateral Confirmation Hearing Credit Counseling Creditor Cross-Collateralization Current Monthly Income (CMI) Debt Consolidation Debt Counseling Debt Settlement Debtor Discharge Dischargeability Dismissal Domestic Support Obligation Equity Executory Contracts Exemption Fair Credit Reporting Act (FCRA) Fair Debt Collections Practices Act (FDCPA) FCRA (Fair Credit Reporting Act) FDCPA (Fair Debt Collections Practices Act) Filing Fees Financial Management Course Fraudulent Conveyance Gross Income Heir Property Homestead Household Goods Insiders Intangible Property Involuntary Bankruptcy Judgment Jurisdiction Leases Lien Lien Avoidance Life Estate Means Test Meeting of Creditors (341) Net Income Personal Property Plan (Chapter 13 Plan) Plan Payments Preferences Priority Creditor Property Real Property Reverse Mortgage Schedules Secured Creditor Setoff Statement of Financial Affairs Tangible Property Unfair and Deceptives Practices (UDAP) Unliquidated Claims Unsecured Creditor Venue Voluntary Petition This list is not at all exhaustive and will be frequently updated. The more I learn about the Practice of Bankruptcy Law, the more I learn how much there is left to know. People from all walks of life have different experiences … See More...
Bankruptcy Terms from # to B
What is a 341 (Meeting of Creditors)? The Meeting of Creditors or Section 341 Meeting as it is called, is a major milestone in your bankruptcy case. These are conducted for every Chapter 7 or Chapter 13 Bankruptcy. Each creditor or other party in interest receives a notice from the court usually 4 weeks ahead of the meeting. The meeting is conducted by the Trustee and the debtor is required to appear. The Office of the United States Trustee has promulgated certain questions that are … See More...
Bankruptcy Terms from C to D
What is the Case Closing? A bankruptcy does not end with the discharge. Typically one of the last orders in a bankruptcy case is the order discharging debts, which is what most consumer bankruptcy cases are all about. However, the end of the case only comes after all eligible assets have been liquidated and distributed to creditors according to their priority and share. Once the trustee files a final report, the case is usually closed. What is Chapter 11? Chapter 11 of the bankruptcy code … See More...