Examlex
Identify the type of graph.
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Unsecured Claims
Claims or debts that are not backed by collateral, meaning if the debtor defaults, the creditor does not have a right to seize specific property to satisfy the debt.
Exempt Property
Property that a debtor is allowed to retain, free from the claims of creditors seeking to repossess or sell the property for debt recovery.
Chapter 7 Bankruptcy
A liquidation form of bankruptcy available to individuals and businesses, resulting in the sale of non-exempt assets to pay creditors and discharge most debts.
Equity
The fair and impartial treatment in justice or the value of ownership interest in a property after debts are subtracted.
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