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A party who has standing to be heard by the court in a matter to be decided in the bankruptcy case. The debtor, the U.S. trustee or bankruptcy administrator, the case trustee and creditors are parties in interest for most matters.
- Browse Related Terms: bankruptcy administrator, bankruptcy administrators, Chief Judge, Clerk of Court, party in interest, standing trustee, U.S. trustee, u.s. trustees
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A business not authorized to practice law that prepares bankruptcy petitions.
- Browse Related Terms: Affidavit, Affirmation, Agent, balance sheet, Court, Deposition, jurisprudence, petition preparer, Subpoena, Writ
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A person or business that files a formal complaint with the court.
The person who files a complaint in an adversary proceeding.
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A debtor's detailed description of how the debtor proposes to pay creditors' claims over a fixed period of time.
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Sets out how a debtor in Chapter 11 reorganization proposes to repay its creditors.
- 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
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A transfer of the debtor's property made after the commencement of the case.
- 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
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The arrangement (or rearrangement) of a debtor's property to allow the debtor to take maximum advantage of exemptions. (Prebankruptcy planning typically includes converting nonexempt assets into exempt assets.)
- Browse Related Terms: abandonment, abandonment of property, bankruptcy estate, core proceedings, Distribution, Exemption, exemptions, exempt property, liquidation, objection to exemptions, prebankruptcy planning, Trustee
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A debt payment made to a creditor in the 90-day period before a debtor files bankruptcy (or within one year if the creditor was an insider) that gives the creditor more than the creditor would receive in the debtor's chapter 7 case.
- 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
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- Browse Related Terms: presumption of abuse
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Scheduling conference at which trial, motion cut-off, and other dates are set.
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The Bankruptcy Code's statutory ranking of unsecured claims that determines the order in which unsecured claims will be paid if there is not enough money to pay all unsecured claims in full. For example, under the Bankruptcy Code's priority scheme, money owed to the case trustee or for prepetition alimony and/or child support must be paid in full before any general unsecured debt (
- 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
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An unsecured claim that is entitled to be paid ahead of other unsecured claims that are not entitled to priority status. Priority refers to the order in which these unsecured claims are to be paid.
- 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
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A nonlawyer who represents himself or herself in a court proceeding.
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A written statement and verifying documentation filed by a creditor that describes the reason the debtor owes the creditor money. (There is an official form for this purpose.)
- 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
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All legal or equitable interests of the debtor in property as of the commencement of the case.
- 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