Definition provided by Nolo’s Plain-English Law Dictionary.
money and financial problems
bankruptcy discharge
Definition from Nolo’s Plain-English Law DictionaryAn order issued by the bankruptcy court at the end of a bankruptcy case, wiping out all of the debtor's dischargeable debts.
bankruptcy estate
Definition from Nolo’s Plain-English Law DictionaryEverything a debtor owns when filing for bankruptcy, except certain pensions and educational trusts.
Definition provided by Nolo’s Plain-English Law Dictionary.
bankruptcy petition preparer
Definition from Nolo’s Plain-English Law DictionaryA nonlawyer who helps debtors complete their bankruptcy paperwork for a fee. Bankruptcy petition preparers may not give legal advice or represent people in court; instead, they act as a typing service,...
bankruptcy proceedings
Definition from Nolo’s Plain-English Law DictionaryThe way a bankruptcy case wends its way through the court system, from the time the bankruptcy petition is filed until the debtor receives a bankruptcy discharge.
Definition provided by Nolo’s Plain-...
bankruptcy trustee
Definition from Nolo’s Plain-English Law DictionaryA person appointed by the court to oversee a bankruptcy case. In a Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, sell it, and distribute the proceeds to creditors. In a...
Bond
In general, an obligation. More specifically:
1. In commercial law, a borrower's obligation to pay a stated amount of money after a stated amount of time.
2. In criminal law, an obligation to pay the court if a defendant fails to meet...
book account
A business record of a customer's account which indicates the total amount owed by the client at any given time. The book account serves as a clear basis for bringing suit on a customer's failure to repay the debt.
Check-flashing
Definition
See kiting.
Check-kiting
Definition
See kiting.
Consumer Credit
Consumer Credit: An Overview
Credit allows consumers to finance transactions without having to pay the full cost of the merchandise at the time of the transaction. A common form of consumer credit is a credit card account issued by a financial...