Bankruptcy Terms Video

Bankruptcy is a specialized area of federal law. It has many of its own rules and procedures that are unique. It makes sense then that there are terms that are not used in other contexts. In this video Michelle explains words & phrases used in bankruptcy. To make it easier to check something you might have a question about - check the time stamps below.
Here are the terms and phrases covered in this video:

Debtor 0:37
Creditor 0:57
Secured creditor 1:04
Unsecured creditor 1:17
Insider 1:26
Trustee 1:50
U.S. Trustee 2:34
Automatic Stay 3:03
Relief from Stay 3:51
Reorganization 4:19
Discharge 4:58
Objection to Discharge 5:58
Objection to Dischargability 6:32
Schedules 6:51
Statement of Financial Affairs 7:46
Petition 9:01
Exemptions 9:53
Means Test 10:59
341 meeting 11:52
Adversary action 13:15

For information on debts you cannot discharge watch https://youtu.be/8rAOeTkNmdI

What happens in a chapter 7 https://youtu.be/WATSUrfEMsY
For information on the information you will need to provide to your attorney to file bankruptcy you can watch this :https://youtu.be/QRAYS012pnU

For information on the difference between Chapter 7 and Chapter 13 you can watch this: https://youtu.be/_avVDzvRxpE

Not all debts can be discharged https://youtu.be/n7AHltxs

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