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What are the EEOC guidelines that need to be considered when planning the content of application forms?
Priority Claims
Claims in bankruptcy that are given precedence over other debts, often due to their importance like wage or tax claims.
Secured Creditors
Creditors who have a legal interest, or lien, in the debtor's assets or property as collateral for the debt, giving them a higher priority over unsecured creditors in case of default.
Preferential Payment
A payment made to a creditor before others in the context of bankruptcy, which often must be paid back if found to unfairly favor one creditor over others.
Bankruptcy Petition
A formal request filed by an individual or corporation declaring inability to pay debts, seeking relief through bankruptcy court.
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