|
Today's Terms
Reamortization
Definition:
If your loan is reamortized, the delinquency is added to the loan balance in order to bring your payments up to date. This increases your loan amount and will also increase your monthly payments.
Debtor
Definition:
The entity seeking protection from creditors under the bankruptcy laws.
Bankrupt
Definition:
The entity that files a bankruptcy; the debtor; the insolvent entity. This is a non-technical term and is not used in the Bankruptcy Code.
More Bankruptcy Terms >
|