an exception to the avoidance of transfers under §547(c)(4), which
validates an otherwise avoidable transfer to the extent that the
creditor-transferee gave new unsecured value to the debtor after
receiving the transfer.
the providing of new consideration in a transaction between a debtor
and creditor. An avoidable preference will generally not exist where
a transaction occurs for new value. This definition is unique to
New Value Exception
an exception (or corollary) to the absolute priority rule that enables
equity holders to retain their interests in the debtor, even though a
senior non-accepting class has not been paid in full, if the equity
holders contribute new capital to the debtor equal to or greater than
the value of their interests.
No Asset Case
A Chapter 7 case in which the trustee determines, after the applicable exemptions, that there are no significant assets to liquidate. The debtor retains all of their real and personal property.
No contest. A plea of nolo contendere has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
the term used in the Code to describe the entire body of law
prevailing in the jurisdiction, both state and federal, apart from
an asset not used to operate a business. For example, inventory is
generally a noncapital asset.
matters that are related to a bankruptcy proceeding but that do not
require specific application of a Bankruptcy Code provision for the
A debt that cannot be eliminated in bankruptcy. Non Dischargeable debts remain legally enforceable despite the attempt to have it discharged.
Property of a debtor that can be liquidated to satisfy claims of creditors.
Nonpurchase Money Security Interest
a security interest in collateral where the purpose of the
loan is other than to purchase the collateral.
Nonrecourse Secured Debt
a secured debt for which the debtor has no liability beyond the value
of the collateral, so that the debtor cannot be held responsible for any
deficiency following foreclosure.
a real property lease obtained for purposes other than to reside in the
leased premises. The lease of a store is a common nonresidential
real property lease.
information concerning a fact, whether deriving from actual knowl-
edge or imputed as a legal consequence of proper recording or other
publicity. Imputed knowledge is called "constructive notice".
Notice and a Hearing
Bankruptcy Code phrase, which triggers some form of due process,
such as a noticed motion, notice of intent, or ex parte application.
Notice of Intent
the common method of providing notice to creditors, when required,
to properly accomplish a bankruptcy procedure. This procedure is
also sometimes known as a "notice of intended action". Generally,
23 days' notice by mail upon all creditors and parties in interest is
necessary to properly accomplish many bankruptcy procedures.
a motion brought by a party in interest seeking a ruling from the
Nulla bona Return
(Latin: "No goods".) The report returned by the sheriff following an
attempt at levy in which no executable property could be found.
Filing Bankruptcy can sometimes be the fastest way to get out of debt and may be the most affordable way to get a fresh financial start. Chapter 7 Bankruptcy can quickly wipe out your debts, increase your credit score, stop wage garnishments, get rid of credit card debt, eliminate medical bills, stop payday loans, stop bill collectors, erase negative credit reporting, and reestablish new credit after bankruptcy. RJ Atkinson – Bankruptcy Lawyers have payment plans to make filing Chapter 7 and Chapter 13 Bankruptcy affordable which include low cost flat fees for Chapter 7 that may be considered the cheapest bankruptcy attorney fees depending on the costs other bankruptcy lawyers charge. Chapter 13 Bankruptcy can save your home from foreclosure, save your car from repossession, lower monthly payments, reduce interest rates, get rid of late fees, reduce credit card interest, payoff high credit card debt, raise your credit score, stop creditor harassment, get rid of debt, reduce debt, eliminate creditor calls at work, stop collection calls, start over financially, discharge debts and/or be debt free in 3 to 5 years. IRS tax problems, tax levies, wage garnishments, back taxes, payroll taxes, income taxes can often be handled in Chapter 13 bankruptcy. Divorce/Bankruptcy – past due child support arrears, alimony, spousal support, and divorce debt can often be handled in chapter 13 bankruptcy. The Law Offices of RJ Atkinson handles debt consolidation, loan modifications, credit card debt settlement, debt negotiation, lawsuit defense, IRS problems, credit card lawsuits, TROs temporary restraining orders to stop foreclosure, forbearance agreements to stop foreclosure, FDCPA Fair Debt Collection Practices Act lawsuits, FCRA Fair Credit Reporting Act lawsuits, credit report disputes, debt collection lawsuits, adversary complaints in bankruptcy, bankruptcies, foreclosure workouts, mortgage short sales, real estate property tax disputes, civil litigation, commercial litigation, tax lawsuits, small business bankruptcy, corporate bankruptcy, business creditor representation, and most every kind of debt related issue or financially based legal problem on a case by case basis.
Pursuant to 11 U.S.C. §528, “We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”