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War creates a "phantom army" composed of
Unsecured Creditors
Creditors who have extended credit without requiring collateral, making their claims less secure in the event of a borrower's bankruptcy.
Bankruptcy Estate
All legal or equitable interests of the debtor in property, both tangible and intangible, at the time of the bankruptcy filing.
Reaffirmation Agreement
A contract in which a debtor agrees to continue paying a dischargeable debt after the bankruptcy process, essentially renewing the debt.
Discharged
The completion, settlement, or release from a legal duty, obligation, or burden.
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