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Glossary Of Terms - Bankruptcy
Saturday, February 4th, 2012
Bankruptcy

Bankruptcy - A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts.



  • Foreclosure
  • Garnishment
  • Grace Period
  • Guarantor
  • Interest
  • Lien
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  • Principal
  • Repossession
  • Secured Debt
  • Unsecured Debt
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