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Chapter 11
A provision of the United States Bankruptcy Code that provides for reorganization, typically involving a corporation or partnership.
Order For Relief
A court’s grant of assistance to a complainant. In bankruptcy proceedings, the order relieves the debtor of the immediate obligation to pay the debts listed in the bankruptcy petition.
Repayment Plan
An agreement between a creditor and a debtor that outlines the manner in which outstanding debts will be paid back.
Chapter 13
A bankruptcy code provision allowing individuals with a regular income to develop a plan to repay all or part of their debts under court supervision.
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