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We Empower You with Bankruptcy Knowledge

At Case & DiGiamberardino, P.C., our bankruptcy attorney, John DiGiamberardino, understands that many consumers who are in financial distress and considering bankruptcy don’t necessarily understand the terminology that bankruptcy lawyers use. He wants you to have the information you need to make an informed decision about your financial future.

The following are some brief explanations of the nontechnical language used during the consumer bankruptcy process.

  • Automatic stay – The court order that suspends all collection actions or proceedings against a business or consumer debtor who files bankruptcy. It automatically goes into effect upon filing of a bankruptcy.
  • Consumer – A person who buys goods or services for personal, family or household use rather than for business purposes.
  • Creditor – A person or business with a claim against the debtor.
  • Debtor – A person who owes an obligation to pay money to another. A person who files a voluntary petition in bankruptcy.
  • Debts – The liability on a claim. A specific sum of money due by the agreement or otherwise.
  • Discharge – The release of a debtor from money obligations by order of the bankruptcy court.
  • Fresh start – The characterization of a debtor’s status following bankruptcy, for example, free of most debts, which is one of the purposes of the bankruptcy code.
  • Means test – A complex formula used in a bankruptcy proceeding to determine if a consumer has the means to pay back a portion of unsecured debt.
  • Petition – A request filed with a bankruptcy court by a debtor seeking protection from creditors.
  • Secured debt – A debt supported or backed by security or collateral (such as a house or a car).
  • Trustee – An officer of the court who is appointed by a bankruptcy judge to act as the representative of a bankruptcy estate. The trustee’s duties include: 1) collecting and reducing to cash the assets of the estate; 2) examining the debtor at a meeting of creditors; 3) making reports to the court of the financial condition of the estate; 4) investigating the debtor’s financial affairs; and 5) examining proofs of claim and objecting to improper claims.
  • Unsecured debt – A debt not supported or backed by any security or collateral (example: most credit cards).

Do you have questions about the bankruptcy process? Read our FAQ about consumer bankruptcy (Chapter 7 and Chapter 13) and our FAQ about commercial bankruptcy (Chapter 11 and Chapter 12).

Contact Us To Restart, Rebuild And Recover

Case & DiGiamberardino, P.C., is ready to help you take advantage of your rights under bankruptcy protection to restart, rebuild and recover. To get started today, please contact our bankruptcy attorney to discuss your case. Our three offices are conveniently located in Lancaster, Wyomissing and Malvern. Call 610-936-6650 or send our offices an email today.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.