Debtor S Petition - Law Dictionary Search Results

Debtor's petition

Matched in: Term Debtor's petition

Act of Bankruptcy, an act, the commission of which by a debtor renders him liable to be adjudged a bankrupt if the petition is presented within three months thereafter. Under … renders him liable to be adjudged a bankrupt if the petition is presented within three months thereafter. Under s. 1 of the (English) Bankruptcy Act, 1914 (4 & 5 Geo. 5, c. 59), any one of the

current monthly income

current monthly income The average monthly income received by the debtor over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from … current monthly income The average monthly income received by the debtor over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from nondebtors and income … household expenses from nondebtors and income from the debtor's spouse if the petition is a joint petition, but not including social security income and certain

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bankruptcy

collection by creditors. A debtor may file for bankruptcy, which is called “voluntary bankruptcy,” or a creditor may petition the court to declare the debtor bankrupt, which is called “involuntary bankruptcy.” Involuntary bankruptcy is allowed only under … : the quality or state of a bankrupt [filed for ] 2 : the administration of an insolvent debtor's property by the court for the benefit of the debtor's creditors [the debt was discharged in ] [

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Debtor S Petition - Law Dictionary Search Results