Disclosure Statement - A detailed analysis of a Chapter 11 debtor's financial situation and outline of the proposed plan of reorganzation.
Dismissal/Dismissed - The termination of a case. In a banrkuptcy case, this is normally without benefit of a discharge to the debtor.
Disposable Monthly Income - The theoretical amount of money available each month from the debtor's budget available to repay general, unsecured creditors in a Chapter 13 proceeding after deduction of allowed expenses, secured and priority debt payment from current monthly income.
Domestic Support Obligation - An amount owed to a spouse, former spouse, or dependent under a family court order. Typically alimony, maintenance, and child support.
Effective Date - The day on which a reorganization plan becomes binding upon all parties, including the debtor and creditors as well as the day on which certain assets may be valued by the court to determine the amount of some secured claims.
Exemptions - The amount of equity in real or personal property a state or the federal government allows a consumer to protect from levy or seizure by creditors.
FICO - Fair Issac Corporation. A "FICO Score" is the most commonly-recognized credit rating, a number calculated using a secret formula based on a consumer's credit reports used by potential lenders to determine the degree of risk associated with lending to a particular consumer.
Fiduciary - A party legally obligated to care for the financial affairs of another and required to place the other party's interests ahead of their own.
Foreclosure -The act whereby a secured lender converts a lien on collateral into an ownership, to the exclusion of the original debtor. Typically refers to real property.
Fraud - The deliberate use of misleading or false information or tactics to obtain another's property or money.
Fraudulent Transfer - Typically, the transaction involving the giving of property to another without receiving reasonably equivalent value in return while insolvent or nearly so, rendering the debtor less able to repay debts.
Garnishment - A judicial process for seizing another's financial property, like wages or bank accounts, to pay a creditor's judgment.
Dismissal/Dismissed - The termination of a case. In a banrkuptcy case, this is normally without benefit of a discharge to the debtor.
Disposable Monthly Income - The theoretical amount of money available each month from the debtor's budget available to repay general, unsecured creditors in a Chapter 13 proceeding after deduction of allowed expenses, secured and priority debt payment from current monthly income.
Domestic Support Obligation - An amount owed to a spouse, former spouse, or dependent under a family court order. Typically alimony, maintenance, and child support.
Effective Date - The day on which a reorganization plan becomes binding upon all parties, including the debtor and creditors as well as the day on which certain assets may be valued by the court to determine the amount of some secured claims.
Exemptions - The amount of equity in real or personal property a state or the federal government allows a consumer to protect from levy or seizure by creditors.
FICO - Fair Issac Corporation. A "FICO Score" is the most commonly-recognized credit rating, a number calculated using a secret formula based on a consumer's credit reports used by potential lenders to determine the degree of risk associated with lending to a particular consumer.
Fiduciary - A party legally obligated to care for the financial affairs of another and required to place the other party's interests ahead of their own.
Foreclosure -The act whereby a secured lender converts a lien on collateral into an ownership, to the exclusion of the original debtor. Typically refers to real property.
Fraud - The deliberate use of misleading or false information or tactics to obtain another's property or money.
Fraudulent Transfer - Typically, the transaction involving the giving of property to another without receiving reasonably equivalent value in return while insolvent or nearly so, rendering the debtor less able to repay debts.
Garnishment - A judicial process for seizing another's financial property, like wages or bank accounts, to pay a creditor's judgment.
8/07
