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BANKRUPTCY GLOSSARY |
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Glossary of Bankruptcy Law Terms
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UCC: Uniform Commercial Code. A statute adopted that covers sales, negotiable instruments, security interests and other commercial transactions.
Under-secured debt: Debt secured on certain parts of the debtor's property by means of a security interest, lien or other security instrument, but for which the value of the property securing the debt is less than the amount of the debt.
Unliquidated claim: A claim for which the amount and liability have not been precisely determined and which cannot be determined without an evidentiary hearing.
Unmatured claim: A claim for a debt that has come into existence but whose date of payment has not yet come due.
Unscheduled debt: A debt that should have been listed by a debtor in the schedules filed with the court but was not.
Unsecured debt: Those debts for which the extension of credit was based solely on an evaluation of the debtor's ability to pay, as opposed to secured
debts.
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Injury Law
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