a petition in bankruptcy
91unsecured claim — a claim or debt for which a creditor holds no special assurance of payment; a debt for which credit was extended based solely upon the creditor s assessment of the debtor s future ability to pay (Glossary of Common Bankruptcy Terms) A pre… …
92co-debtor stay — In Chapter 13, there is an automatic stay that prevents actions against guarantors or co signers of consumer obligations of the debtor. If a mother co signs a son s car loan and the son files a Chapter 13 petition, the co debtor stay will prevent …
93discharge — An order from the Bankruptcy Court releasing the debtor from any and all dischargeable debts which arose prior to the petition date (SA Bankruptcy.com) The legal elimination of debt through a bankruptcy case. When a debt is discharged, it is no… …
94adequate protection — the right of a party with an interest in the debtor s property (such as a secured creditor) to assurance that its interest will not be diminished during the bankruptcy proceedings. (Glossary of Common Bankruptcy Terms) Relief fashioned to protect …
95schedules — lists submitted by the debtor along with the petition (or shortly thereafter) showing the debtor s assets, liabilities, and other financial information (There are official forms a debtor must use.) (Glossary of Common Bankruptcy Terms)… …
96avoidable transfers — The debtor in possession or the trustee, as the case may be, has what are called avoiding powers. Such powers may be used to undo a transfer of money or property made during a certain period of time prior to the filing of the bankruptcy petition …
97financial participant — Under Title 11 U.S.C. Section 101: (22A) The term financial participant means (A) an entity that, at the time it enters into a securities contract, commodity contract, swap agreement, repurchase agreement, or forward contract, or at the time of… …
98creditor — a person to whom or business to which the debtor owes money or that claims to be owed money by the debtor (Glossary of Common Bankruptcy Terms) That person who has a claim, preferred, secured or unsecured, provable under the Bankruptcy and… …
99debtor — the entity seeking protection from creditors under the bankruptcy laws (Glossary of Common Bankruptcy Terms) A person who has filed a petition for relief under the bankruptcy laws. (BankruptcyAction.com) The debtor is the entity ( person,… …
100Chapter 7 trustee — a person appointed in a Chapter 7 case to represent the interests of the bankruptcy estate and the unsecured creditors (Glossary of Common Bankruptcy Terms) A person appointed in a chapter 7 case to represent the interests of the bankruptcy… …
