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Detailed lists filed by the debtor along with (or shortly after filing) the petition showing the debtor's assets, liabilities, and other financial information. (There are official forms a debtor must use.)
- 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 creditor whose debt is secured by a lien on debtors property.
A creditor holding a claim against the debtor who has the right to take and hold or sell certain property of the debtor in satisfaction of some or all of the claim. A special type of chapter 11 case in which there is no creditors' committee (or the creditors' committee is deemed inactive by the court) and in which the debtor is subject to more oversight by the U.S. trustee than other chapter 11 debtors. The Bankruptcy Code contains certain provisions designed to reduce the time a small business debtor is in bankruptcy.
- Browse Related Terms: consumer debtor, equity, Garnishment, Lien, nondischargeable debt, secured creditor, statement of intention, undersecured claim, unsecured claim, unsecured creditor
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A trustee with a permanent appointment to serve in Chapter 12 or 13 cases.
- 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 series of questions the debtor must answer in writing concerning sources of income, transfers of property, lawsuits by creditors, etc. (There is an official form a debtor must use.)
- 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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A declaration made by a chapter 7 debtor concerning plans for dealing with consumer debts that are secured by property of the estate.
- Browse Related Terms: consumer debtor, equity, Garnishment, Lien, nondischargeable debt, secured creditor, statement of intention, undersecured claim, unsecured claim, unsecured creditor
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A law that sets the time within which parties must take action to enforce their rights.
- Browse Related Terms: appellant, appellee, assume, contract, Ex Parte, executory contract or lease, issue, judgment, pretrial conference, statue of limitations
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Proceedings under Chapter 7.
- Browse Related Terms: adversary proceeding, answer, Bankruptcy Code, bar date, complaint, contested matter, court reporter, defendant, Docket, federal rules of bankruptcy procedure, federalism, plaintiff, pro se, straight bankruptcy
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Putting the assets and liabilities of two or more related debtors into a single pool to pay creditors. (Courts are reluctant to allow substantive consolidation since the action must not only justify the benefit that one set of creditors receives, but also the harm that other creditors suffer as a result.)
- 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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A decision made on the basis of statements and evidence presented for the record without a trial. It is used when there is no dispute as to the facts of the case, and one party is entitled to judgment as a matter of law.
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