Bankruptcy Legal Terms Glossary

Essential bankruptcy and debt law terms explained - your guide to understanding bankruptcy and debt legal jargon

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Bankruptcy and debt

  • BankruptcyBankruptcy is a legal process for dealing with overwhelming debt and seeking relief.

  • CreditorAn entity with extended credit or loaned money, possessing a legal claim for repayment from a debtor.

  • DebtorA person or entity legally liable and obligated to pay money owed to creditors or lenders.