Examlex
Why is the retirement age likely to continue to increase over time?
Liquidation
The sale of the nonexempt assets of a debtor and the distribution of the funds received to creditors.
Discharged
In a legal context, this refers to the process of releasing someone from their obligations or debts. In an employment context, it means being fired or let go from a job.
Debtor
An individual or entity that owes money to another party, known as the creditor.
Bankruptcy Code
The Bankruptcy Code is the uniform federal law that governs bankruptcy in the United States, providing legal procedures for dealing with debt problems of individuals and businesses.
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