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Today's Terms
Avoidance power
Definition:
The power of the court to invalidate certain obligations or transactions undertaken by a debtor prior to filing bankruptcy.
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 Two
Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.
More Bankruptcy Terms >
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