|
Today's Terms
Set-off
Definition:
The ability to discharge or reduce a debt by applying a counter claim between the same parties.
Liquidation value
Definition:
The aggregate value of a business if its assets are sold piecemeal.
Forbearance and Repayment
Definition:
The most common way of resolving a loan default is to work out a plan which will let you repay part of the delinquency each month, along with you regular monthly installment.
More Bankruptcy Terms >
|