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Bankruptcy Terms and Glossary
Fair Credit Billing Act (FCBA)
The federal law that gives you rights when an error occurs on your credit card statement.
Fair Credit Reporting Act (FCRA)
The federal law designed to prevent inaccurate information from entering or remaining on a credit report.
Fair Debt Collections & Practices Act (FDCPA)
The federal law that outlaws unfair debt-collection practices by debt collection agencies.
Family Farmer or Family Fisherman
An individual engaged in the business of farming or fishing who meets certain debt limits and other statutory criteria for filing a petition under Chapter 12.
Court appointee responsible for monitoring money as planned is paid to the proper professional organizations.
Voluntarily refraining from doing something, such as asserting a legal right.
The forced sale of real estate to pay off a loan on which the owner of the property has defaulted.
The loss of property (or a privilege) due to breaking a law.
Intentionally deceiving another person causing that individual or business to suffer a loss.
A transfer of a debtor's property made with intent to defraud or for which the debtor receives less than the transferred property's value.
The characterization of a debtor's status after bankruptcy, i.e., free of most debts. (Giving debtors a fresh start is one purpose of the Bankruptcy Code.)