Palm Beach County Office 4400 Northcorp Parkway | Martin County Office 8902 S.E. Bridge Road | St. Lucie Information 2400 SE Veterans Memorial Parkway |
Palm Beach County Office 4400 Northcorp Parkway | Martin County Office 8902 S.E. Bridge Road | St. Lucie Information 2400 SE Veterans Memorial Parkway |
| Term | Definition |
|---|---|
| Debtor |
Any person who is liable to another for money. |
| Default |
Failure to make payments within a specified period of time governed by the original contract. |
| Delinquency |
Failure to make payments when payments are due. For most mortgages, payments are due on the first day of the month. Even though they may not charge a "late fee" for a number of days, the payment is still considered to be late and the loan delinquent. When a loan payment is more than 30 days late, most lenders report the late payment to one or more of the credit bureaus. |
| Denial of Discharge |
Penalty for debtor misconduct with respect to the bankruptcy case or creditors as a whole. The grounds on which the debtor's discharge may be denied are found in 11 U.S.C. 727. When the debtor's discharge is denied, the debts that could have been discharged in that case cannot be discharged in any subsequent bankruptcy. The administration of the case, the liquidation of assets and the recovery of avoidable transfers, continues for the benefit of creditors. |
| Dischargable |
Debts that can be eliminated in bankruptcy. Certain debts are not dischargeable; that it, they may not be discharged through bankruptcy or may only be discharged through Chapter 13. Family support and criminal restitution are examples of debts which cannot be discharged. Debts incurred by fraud can only be discharged in Chapter 13 bankruptcy. |
| Discharge |
The legal term for the order eliminating a debt through a bankruptcy case. When a debt is discharged, it is no longer legally enforceable against the debtor, though any lien that secures the debt may survive the bankruptcy case. |
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Our local law offices take great pride in servicing the following areas.
Palm Beach County
Phone: 561-626-7561
Martin County
Phone: 772-408-6969
St. Lucie County
Phone: 772-408-6969
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Florida Lawyer: Bankruptcy, Foreclosure, Real Estate, Probate.
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