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Debtors income after expenses is deducted.
- Browse Related Terms: administrative claim, consumer debt, consumer debts, Debt, discharge, dischargeable debt, insider (of corporate debtor), insider (of individual debtor), Net Income, net worth, objection to dischargeability, substantive consolidation
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All > Law > Bankruptcy
The remainder after deducting liabilities from assets.
- Browse Related Terms: administrative claim, consumer debt, consumer debts, Debt, discharge, dischargeable debt, insider (of corporate debtor), insider (of individual debtor), Net Income, net worth, objection to dischargeability, substantive consolidation
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All > Law > Bankruptcy
A chapter 7 case where there are no assets available to satisfy any portion of the creditors' unsecured claims.
- Browse Related Terms: amortize, ballot, bankruptcy, chapter 11, chapter 13, chapter 15, chapter 9, confirmation, Conversion, creditors committee, debtor-in-possession, exclusivity period, no-asset case, Plan, plan of reorganization, preference or preferential debt payment, reaffirmation agreement, reorganization
All > Law > Bankruptcy
A debt that cannot be eliminated in bankruptcy. Examples include a home mortgage, debts for alimony or child support, certain taxes, debts for most government funded or guaranteed educational loans or benefit overpayments, debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, and debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime. Some debts, such as debts for money or property obtained by false pretenses and debts for fraud or defalcation while acting in a fiduciary capacity may be declared nondischargeable only if a creditor timely files and prevails in a nondischargeability action.
- Browse Related Terms: consumer debtor, equity, Garnishment, Lien, nondischargeable debt, secured creditor, statement of intention, undersecured claim, unsecured claim, unsecured creditor
All > Law > Bankruptcy
Property that the debtor may not keep.
- 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