|
Today's Terms
Forbearance and Repayment
Definition:
The most common way of resolving a loan default is to work out a plan which will let you repay part of the delinquency each month, along with you regular monthly installment.
Chapter Twenty
Definition:
An unofficial term describing the filing of a Chapter 7 proceeding followed by a Chapter 13.
Set-off
Definition:
The ability to discharge or reduce a debt by applying a counter claim between the same parties.
More Bankruptcy Terms >
|