Related Words

Debtor: One who owes money, a borrower, a maker of a note, a mortgagor.

Debtor-In-Possession Financing: A firm that continues to operate under the Chapter 11 bankruptcy process.

Debtor In Possession: Borrower of money.

Debtors: A list of customers who owe money to the business.

Debtors (Control Account): An account in the nominal ledger which contains the overall balance of the Sales Ledger.

Reorganization: Creation of a plan to restructure a debtor's business and restore its financial health.

Prepackaged Bankruptcy: A bankruptcy in which a debtor and its creditors pre-negotiate a plan of reorganization and then file it along with the bankruptcy petition.

Commingling: The illegal act of mixing deposits or monies belonging to a client (trust funds) with ones personal money. By law brokers are required to maintain a separate trust or escrow account for othe . . . View Full Definition

Assets: Anything of value. Any interest in real or personal property which can be appropriated for the payment of debt.

Discharge Of Lien: The termination of bankruptcy proceedings, resulting in cancellation of the debtor's obligations.