OF TERMS - PAGE 4
Complaint to Determine
Dischargeability — The official complaint a creditor’s
attorney files with the court to decide the dischargeability of a
particular debt. This action must be commenced prior to the bar
Confirmation — The
official act of the court in approving a Chapter 13 repayment
Co-debtor — An
individual who signs a contract for credit with another debtor.
Co-signed Debt —
Debt for which more than one person is legally responsible.
Converting a bankruptcy case from one chapter to another.
Cram down — Also
known as lien stripping. It is the process where a creditor’s
secured claim is split into secured and unsecured amounts based on
the market value of the collateral. The creditor ends up with two