chapter - chapter time periodinology, forty five time durations to grasp and remember
Many borrowers and credit scoreors know little of the chapter process. those time intervals are to lend a hand lend a hand that people in keep in minding chapter . The time durations supplied are as defined from the general public knowledge collection of the chapter pass judgement ons Diimaginative and prescient.
time intervals & DEFINITIONS
Adversary continuing -
A ruleswimsuit aemerging in or reoverdued to a chapter case that may be start d by submitting a whinget with the chapter court docket.
automated keep -
An injunction that robotically smost sensibles regulationfits, foreclocertain , garnishments, and all assortment task once morest the debtor the instant a chapter puppyition is documentd.
chapter -
A prison process for coping with debt issues of people and industrsure; explicall of ity, a case documentd below some of the chapters of name eleven on the U.S. Code (the chapter Code).
chapter Judge -
A judicial place of workr of the U.S. district court who's the court legit with the verdict-making energy over federal chapter circumstances.
chapter Min poor fitness-
A trade not creatorized to apply legislation that supplys chapter suggestionsing and get readys chapter puppyitions.
chapter puppyition -
a kindal request for the safety of the federal chapter rules. (there's an legit shapefor chapter puppyitions.)
chapter accept as true withee -
an personpersonor corporation hireed in all chapter 7, chapter 12, and chapter thirteencircumstances to constitutethe hobbys of the chapter property and the debtor's collectors.
Chapter 7 -
The chapter of the chapter Code offering for "liquidation," i.e., the sale of a debtor's nonexempt correctty and the distrihoweverion of the professionalceeds to gatherors.
Chapter 7 agree withee -
a personhireed in a chapter 7 case to constitutethe hobbys of the chapter property and the riskyd collectors. (The accept as true withee's tasks come with evaluationing the debtor's puppyition and time tables, liquicourting the right kindty of the property, and making distrihoweverions to the collectors. The agree withee might also deliver movements once morest collectors or the debtor to bounce backcorrectty of the chapter property.)
Chapter thirteen-
The chapter of the chapter Code offering for modifyment of debtsof a personwith common source of revenue. (Chapter thirteenpermits a debtor to maintain correctty and popy debt through the years, of103 to 5 years.)
Exempt -
an outline of any correctty that a debtor may save youcollectors from recuperateing.
Exemption -
correctty thon the chapter Code or applicin a position state legislation permits a debtor to maintain from collectors.
Exempt right kindty -
correctty or worth in correctty that a debtor is permitted to hold, unfastened from the publicizes of collectors who do not desireliens.
Lien -
A costupon explicit right kindty layoutaled to safe chargeof a debt or a carry outance legal responsibility.
Liquidation -
A sale of a debtor's correctty with the continues for use for the advantage of the collectors.
declare -
A creditor's statement of a right to costfrom a debtor or the debtor's correctty.
whinget -
the basicor initiatory record in a rulesuit that notifies the court and the protect ant of the bottoms declareed by the apparenttiff for an aconflictd of cash or other aid once morest the protect ant.
Concompanyation -
Approval of a plan of regroup by a chapter judge.
client debts-
Debt incurred for private, versus trade , wishes.
Contingent declare -
A declare that can be owed by the debtor beneath certain circumstances, for instance, the place the debtor is a cosigner on someone elsearch engines loanand that person fails to pay.
Creditor -
a personto whom or industry to which the debtor owes cash or that says to be owed cash by the debtor.
Debtor -
a personwho has recordd a puppyition for aid underneath the chapter rules.
protect ant -
a person(or trade ) once morest whom a regulationsuit's documentd.
Discharge-
A release of a debtor from non-public litalentfor certain disratein a position money owed. (A disprice rerentals a debtor shapeprivate litalentfor certain debtsreferred to as disrateready debts(defined below) and stops the collectors owed the ones debtsfrom taking any motion once morest the debtor or the debtor's correctty to gather the money owed. the release also restricts collectors from speaking with the debtor in regards to tinheritor debt, together with phone calls, allowters, and private touch.)
Disrateready Debt -
A debt for which the chapter Code permits the debtor's private liskillto be do away withd.
Disclocertain commentary -
A written report get readyd by the chapter eleven debtor or other plan proponent that may be layouted to offer "good enough knowledge" to gatherors to enin a position them to judge the chapter eleven plan of regroup.
Ehand overy -
the worthof a debtor's pastime in right kindty that's stillafter liens and other collectors' passions are believeed. (instance: If a areaworthd at $60,000 is subject to a $30,000 mortgage, there is $30,000 of ehand overy.)
Liquidated declare -
A creditor's declare for a set amount of cash.
No-Asset Case -
A chapter 7 case the place tlisted here aren't any asolarits to be needed to fulfill any section of the creditor's dangerousd proclaims.
Non Disfeeready Debt -
A debt that can't be get rid ofd in chapter .
Objectidirectly to Disrate -
A agree withee's or creditor's objectidirectly to the debtor's being launched from non-public liskillfor certain disrateready money owed.
Objectidirectly to Exemptions -
A accept as true withee's or a creditor's objectidirectly to a debtor's try anddeclare certain right kindty as exempt, i.e., not liin a position for any prepuppyition debt of the debtor.
birthday celebration in passion -
A birthday party who's in reality and extensively hobbyed within the subject material, as prominentfrom one that has just a nominal or technical hobby in it.
Plan -
A debtor's particular description of methodsthe debtor indicates to pay collectors' publicizes over a hard and speedytime period.
undeniaballowiff -
a personor trade that stories a kindal bitch t with the court.
desireential Debt cost -
A debt chargemade to a creditor in the ninety-day period ahead of a debtor files chapter (or within 365 days if the creditor was once an withinr) that provides the creditor greater than the creditor may obtain in a chapter 7 case.
pastity -
The chapter Code's stateachy score of unprotectedd broadcasts that resolves the order by which dangerousd proclaims win poor fitnessbe passist if there is not anyt enough cash to pay all unprotectedd proclaims in complete.
evidenceof declare -
A written commentary describing the explanation a debtor owes a creditor cash. (there's an respectable shapefor this objective.)
Reafcompanyation agreement-
An agreementby a chapter 7 debtor to continue paying a disratein a position debt after the chapter , oftenfor the aim of preserving the coloverdueral or mortgelderly correctty that might another way be subject to reposconsultation.
safed Creditor -
a personor trade clinging a declare once morest the debtor that may be protectedd by a lien on the correctty of the property or that may be subject to a right of setoff.
safed Debt -
Debt subsidized by a mortgage, plfringe of colpast dueral, or other lien; debt for which the creditor hbecause the right to pursue explicit pledged right kindty upon default.
3forty one assembly -
a gathering of collectors at which the debtor is queryed under oath by collectors, a believeee, read aboutr, or the us accept as true withee about his/her monetaryaftruthfuls.
Typing carrier -
A trade not writerized to observe regulation that get readys chapter puppyitions.
america accept as true withee -
An place of jobr of the Justice division liable for tremendousvising the management of chapter circumstances, propertys, and believeees, revealing plans and disclosurecommentarys, showing collectors' dedicatetees, showing price utilitys, and carry time out other statrainy tasks.
Unagendad Debt -
A debt that are supposed to were listed by a debtor in the time tables documentd with the court however was not. (counting on the circumstances, an unagendad debt may or might not be dispriced.)
those time intervals are for lots of people to have a greater keep in minding of chapter and the time periodinology that accompaniesthe submitting or inquiry of a chapter .
Article written by Rick Munster
没有评论:
发表评论