Debt - Law Dictionary Search Results
charge
on [ the estate] b : to impose or record as a financial burden or liability [ the debts to the estate] [charging the loss against earnings] 4 a : to fix or ask as a fee
chapter 7 (individual bankruptcy)
chapter 7 (individual bankruptcy) A petition designed to liquidate the debtor's property, pay off his or her creditors, and discharge the debtor from his or her other debts. Source:
automatic stay
of a bankruptcy petition in accordance with bankruptcy law that prevents creditors from attempting to collect from the debtor for debts incurred before the filing
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assume
as·sumed as·sum·ing 1 : to voluntarily take upon oneself [ a risk] 2 : to take over (the debts or obligations of another) as one's own [ a mortgage]
assignment
in the property or right transferred assignment for the benefit of creditors : assignment of property by a debtor to an assignee to be held in trust and used to pay off the debtor's debts assignment of
advisement
: deliberation [take the matter under ] 2 : the act or process of advising [ of the debtor on matters relating to…his debts "J. H. Williamson"]
adjust
in settlement of (a loss) b : to make new arrangements with creditors for the payment of (the debts of a debtor in bankruptcy) 2 : to calculate in accordance with a system [ing the basis]
trust
a spendthrift who is paid income therefrom and that cannot be reached by creditors to satisfy the spendthrift's debts tentative trust : totten trust in this entry testamentary trust : a trust created in a will to
Barnburner
in New York about the middle of the 19th century which was hostile to extension of slavery public debts corporate privileges etc and supported Van Buren against Cass for president in 1848 opposed to Hunker
Bankruptcy
(CA). Bankruptcy, is the statutory procedure usually triggered by insolvency by which a person is relieved of most debts and undergoes a judicially supervised reorganization or liquidator for the benefit of that person's creditors, Black Law Dictionary,
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