Legal Glossary

The legal glossary is a comprehensive index of legal terms aimed at educating and helping consumers better understand some of the legal terminology and jargon that is often used in describing legal matters.

Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.