All > Law > Bankruptcy
List of creditors names and addresses, filed with the petition.
- Browse Related Terms: automatic stay, automatic stay provision, bankruptcy petition, contingent claim, creditor, Debtor, fresh start, joint petition, liquidated claim, matrix, Priority, priority claim, proof of claim, schedules, unliquidated claim, unscheduled debt
All > Law > Bankruptcy
Section 707(b)(2) of the Bankruptcy Code applies a "means test" to determine whether an individual debtor's chapter 7 filing is presumed to be an abuse of the Bankruptcy Code requiring dismissal or conversion of the case (generally to chapter 13). Abuse is presumed if the debtor's aggregate current monthly income (see definition above) over 5 years, net of certain statutorily allowed expenses is more than (i) $10,000, or (ii) 25% of the debtor's nonpriority unsecured debt, as long as that amount is at least $6,000. The debtor may rebut a presumption of abuse only by a showing of special circumstances that justify additional expenses or adjustments of current monthly income.
- Browse Related Terms: 341 meeting, chapter 12, chapter 7, claims bar date, credit counseling, creditors' meeting, debtor education, disclosure statement, family farmer, family farmer or family fisherman, means test
All > Law > Bankruptcy
A request by a creditor to allow the creditor to take action against the debtor or the debtor's property that would otherwise be prohibited by the automatic stay.
- Browse Related Terms: affiliate, avoidance powers, Exempt property, fraudulent transfer, Liabilities, motion to lift the automatic stay, nonexempt property, postpetition transfer, property of the estate, statement of financial affairs, transfer, voluntary transfer