Bankruptcy terms starting with N

5 terms

1. Net Income Your take-home pay, the amount of money that you receive in your paycheck after taxes and deductions.
2. Net Worth A corporation's net worth is the retained earnings, or the amount left after dividends are paid, plus the money in its capital accounts, minus all of its…
3. no-asset case A chapter 7 case where there are no assets available to satisfy any portion of the creditors' unsecured claims.
4. nondischargeable debt A debt that cannot be eliminated in bankruptcy. Examples include a home mortgage, debts for alimony or child support, certain taxes, debts for most…
5. nonexempt property Property that the debtor may not keep.