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Today's Terms
Voluntary bankruptcy
Definition:
Bankruptcy filed by the debtor itself; data from the U.S. Administrative Office of the Courts subdivides bankruptcies into voluntary and involuntary.
Chapter Thirteen
Definition:
Bankruptcy proceedings for an individual with the intention of rescheduling the individual's debt (rather than liquidating the individual's assets and debt; an individual files under Chapter 7 to liquidate);
Cash collateral
Definition:
Cash and cash equivalents held by the debtor in Chapter 11 subject to liens of other parties.
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State Statutes Resource Center 