OF TERMS - PAGE 1
341 Meeting — Meeting of Creditors
with your attorney, trustee, and creditors.
Abuse — A disregard of financial
capability. For example, purchasing luxury items on pre-bankruptcy
shopping sprees with no reasonable or probable means of repayment.
Adversary proceeding — A separate
lawsuit filed in the Bankruptcy Court which arises in or is
related to the bankruptcy case and involves opposing parties.
Appeal — A request to the U.S.
District Court or the Bankruptcy Appellate Panel, if there is one
in the circuit, to review a decision of the Bankruptcy Court. A
request to the Circuit Court of Appeals to review a decision of
the U.S. District Court.
Automatic stay — An automatic
injunction requiring the suspension of collection activity on any
debts listed in bankruptcy. The automatic stay goes into effect
upon the filing of the bankruptcy, not when the creditor receives
the notice of bankruptcy.