JustBroke's Bankruptcy Dictionary (HUMOR)

[justbroke]

(This is meant as humor and in no way is an accurate legal dictionary in any way)

• 341 Meeting -- A meeting held daily at 3:41PM.
• Adversary Proceeding -- when your arch nemesis proceeds against you
• Assume -- something that is guaranteed to be accurate
• Attorney -- a person who represents anyone and spews information where appropriate. You can easily tell when they are not telling the truth, as their lips will be moving. Usually hang out at a place called "The Bar" (see The Bar)
• Automatic Stay -- a voluntary order of the court which allows Creditors to continue to call you, so long as they didn't receive the Notice of Bankruptcy (see Notice of Bankruptcy)
• Avoidable Transfers -- pre-planning so that when you ride the #100 Downtown bus, you can avoid having to transfer more than once to get to the #10 Uptown Bus. Traveling to The Court or the 341 Meeting this way can be a nightmare.
• Bankruptcy Code -- a secret and legendary pact, not too unlike the Pirate's Code, which regulates Bankruptcy. See Guidelines
• Bankruptcy Mill -- a place where they make bankruptcies
• Bankruptcy Reform -- see U.S. Constitution
• Chapter 7 -- a part of the Bankruptcy Code that debtors are discouraged from even knowing about. Those who learn this part of the secret code are usually lambasted by the U.S. Trustee when the U.S. Trustee learns that they are a more affluent Pirate.
• Chapter 11 -- a part of the Bankruptcy Code used to discourage those who would want to learn about Chapter 13 or Chapter 7 but cannot due to some rather poorly written text in the Code.
• Chapter 13 -- a part of the Bankruptcy Code that allows you to keep all your booty by filing a Plan. (see Plan)
• Claim -- a lie told on the part of a greedy revenuer.
• Cramdown -- forcing a greedy revenuer's claim down their throat
• Debtor -- he who has debt
• Discharge -- (removed by Moderator. This is a family forum)
• Eat Steel -- a more elaborate form of Cramdown which actually shoves cars down the throat of revenuers. (See also Cramdown)
• Equity -- something that Chapter 7 debtors wish they had little of
• Exemption -- a pass by The Court... allowing certain things to be "overlooked" as a matter of good business.
• Freedom -- see U.S. Constitution
• Fresh Start -- see Bankruptcy Reform
• Guidelines -- Mere suggestions and not quite a rule.
• Insider -- someone who knows The Code well! Don't get associated with them because you can get into serious trouble making deals with them.
• Lien -- synonym: lean, when someone applies pressure on you to give up property.
• Means Test -- doesn't mean anything unless you are the Mean... and you aren't. (For an example of the "Mean"... see U.S. Trustee)
• Motion to Lift Automatic Stay -- when your Arch Nemesis (see Adversary Proceeding) moves to attack your booty
• Notice of Bankruptcy -- while usually "lost in the mail", a document which informs creditors that you don't have any more money.
• Plan -- something a Chapter 13 debtor uses to trick revenuers into letting him keep all his booty, while trying to figure out how to become a Chapter 7 debtor.
• Preferential Payment -- the correct way to make a payment
• Proof of Claim -- a document submitted to The Court by a revenuer stating that they have proof that your booty belongs to them.
• Secured Creditor -- a revenuer who has enough protection to keep you from attacking
• Standing Trustee -- see U.S. Trustee
• Statement of Intentions -- a gentleman's agreement which is usually not followed through with anyhow (see Guidelines)
• The Bar -- a place where Attorneys hang out, after appearing at The Court all day.
• The Code -- see Bankruptcy Code
• The Court -- a formal gathering of members of something known as the "Bar" who speak in a sort of tongue... like... "Sampson V. Goliath 385 BR 182 11th Circuit 2000". Nothing usually happens here. Meetings are usually "continued" because no one comes prepared. Usually attended to by Attorneys (see Attorney)
• Un-Secured Creditor -- a revenuer with little to no protection from your wrath.
• U.S. Constitution -- see Freedom
• U.S. Trustee -- someone you shouldn't TRUST.

Note: I apologize to all attorneys... this is all in good humor.

[justbroke]

Okay, so I was bored.

[LuciluS]

1. Preferential Payment -- the correct way to make a payment



I was bored, too

[anuta]

Thumbs up to the dictionary!

[2Bshinyandnew]

[BigJohn]

U.S. Constitution -- see Freedom should read:
"U.S. Constitution -- A navy ship"

Automatic Stay -- a voluntary order of the court which allows Creditors to continue to call you, so long as they didn't receive the Notice of Bankruptcy should read:
Automatic Stay -- a voluntary order of the court which allows Creditors to continue to call you until each employee has personally notified by certified mail.[/b]

[justbroke]

U.S. Constitution -- see Freedom should read:
"U.S. Constitution -- A navy ship"

Automatic Stay -- a voluntary order of the court which allows Creditors to continue to call you, so long as they didn't receive the Notice of Bankruptcy should read:
Automatic Stay -- a voluntary order of the court which allows Creditors to continue to call you until each employee has personally notified by certified mail.

BigJohn... yeah... I was trying to do it quickly and was actually making changes up until that 1 hour limit.

With the U.S. Constitution, Freedom, and all that, I was trying to make a circular reference where an unknowing reader would keep following the reference to another word.

I like your alternate Automatic Stay definition!!