Standard 13 Bankruptcy REVIEW

A person or company to whom money is owed.

Being legally released from obligation to repay some/all debt; forced loss of certain assets. 

A legal warning concerning the attachment of property to satisfy a debt. 

Generally the same as consumer credit counseling.

Making false statements or failing to report all information is a crime.

Type of bankruptcy: Reorganize debt

To take possession of property in which the owner is behind in payments.

Organizations that help consumers find a way to repay debts= budgeting and management of funds.

A single loan that replaces the debt owed by multiple loans.

A person or company with insufficient assets to cover their debt.

Type of bankruptcy: Liquidate debt

Borrow money on your house to pay your bills.  High level of risk;