|
Today's Terms
Secured creditors
Definition:
One of two general types of creditors of a company. Secured creditors have a lien on property of the company.
Repo Laws Repossess
Definition:
The repo laws: If you don't make your car payments for a number of months, your lender may repo or repossess your car. Without a car you may not be able to get to work.
Chapter Twelve
Definition:
Family farmer bankruptcies; created by Congress in 1986 (Chapter 12 became effective on November 26, 1986 and is now a permanent Chapter of the Bankruptcy Code); only a family owned farm business can qualify for Chapter 12
More Bankruptcy Terms >
|
