The ABCs of Bankruptcy & Foreclosure: Glossary (t-z)
We're at the end of the first Bankruptcy INK official bankruptcy and mortgage term glossary. Periodically new terminology may be added. But for now, please use these terms as a resource to help you better understand the bankruptcy and home mortgage process.
T
Tangible Personal Property
Personal property that can be felt or touched.
Transfer
Where a debtor parts way by any means with their property.
Trustee
The representative of the bankruptcy court who exercises statutory powers.
Truth in Lending Act
The Federal Law that requires credit and charge card companies to disclose interest rates and other information.
U
U.S. Trustee
An officer of the United States Justice Department responsible for supervising the administration of bankruptcy cases.
Un-liquidated Claim
A request for a claim or debt where a value has not yet been determined.
Un-scheduled Debt
An amount owed that should have been listed by the debtor in the schedules filed with the court but was not.
Unsecured Claim
A claim or debt for when a creditor holds no special assurance of payment.
V
Voluntary Transfer
A transfer of a debtor's property with the debtor's consent.