Examlex
What is meant by the "fraud triangle"?
Creditors
Individuals or entities to whom money is owed by another individual or entity.
Chapter 7
A bankruptcy process providing for the liquidation of a debtor's non-exempt assets to pay off creditors.
Automatic Stay
A legal provision that halts lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed.
Repossess
The act of a lender taking back property from the borrower, typically due to failure to meet the terms of the loan agreement, such as defaulting on payments.
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