Bankruptcy Glossary

/Bankruptcy Glossary

Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 3)

2018-02-15T19:21:35+00:00

Concluding our blog series Bankruptcy Glossary: Common Bankruptcy Terms Defined, below, we will define some more common bankruptcy terms that are important to understand if you will be filing for or are going through bankruptcy. Final Part of Our Bankruptcy Glossary Means test – The qualifying test used to assess people’s average income to determine whether they are eligible to file for Chapter 7 bankruptcy. With the means test for bankruptcy, a debtor’s average monthly income for a certain period of time (usually the six months prior to filing the bankruptcy petition) is calculated; if this average is lower than [...]

Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 3)2018-02-15T19:21:35+00:00

Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 2)

2018-02-15T19:22:23+00:00

Resuming Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 1), here, we will highlight the definitions of some more commonly used bankruptcy terms. If you will be or are going through bankruptcy, understanding what these terms mean and how they may apply to your situation can be important. Our Bankruptcy Glossary Continued Dischargeable debt – Debt that can be discharged or eliminated through a bankruptcy proceeding. Debts that generally qualify as dischargeable in legitimate bankruptcy cases include (but are not necessarily limited to) credit card debt, mortgage debt, car loan debt, medical bill-related debt, etc. Exemptions – The property that can [...]

Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 2)2018-02-15T19:22:23+00:00

Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 1)

2018-02-15T19:23:35+00:00

Are you thinking about filing for bankruptcy to get out from under significant debt? If so – and if you’ve never filed for bankruptcy before, you’re going to probably run across or hear some common bankruptcy terms that you may not be familiar with. Understanding these terms, however, can be important to knowing what to expect from the process and possibly even to assuaging your concerns about moving forward. In this three-part blog series, we will present a bankruptcy glossary that clearly and simply defines some of the most important bankruptcy terms to know. If, instead, you are ready to [...]

Bankruptcy Glossary: Common Bankruptcy Terms Defined (Pt. 1)2018-02-15T19:23:35+00:00