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Simple English definitions for legal terms

arrangement with creditors

Read a random definition: Graham v. Florida (2010)

A quick definition of arrangement with creditors:

An arrangement with creditors is when someone who owes money to others comes to an agreement with those people about how they will pay back the money. This can involve settling the debt for less than what is owed, extending the time to pay, or finding a way to satisfy the debt in some other way. In some cases, a detailed plan called a bankruptcy plan is created to help the debtor get back on track with their finances. This plan must be approved by a court before it can be put into action.

A more thorough explanation:

An arrangement with creditors is an agreement made by a debtor with their creditors to settle, satisfy, or extend the time for payment of debts. This is often done in the context of bankruptcy proceedings.

A bankruptcy plan is a detailed program of action created by a debtor or their creditors to guide the debtor's rehabilitation, continued operation, or liquidation, and payment of debts. The plan must be approved by the bankruptcy court before it can be implemented.

For example, if a business is struggling to pay its debts, it may file for bankruptcy and work with its creditors to create a plan for paying off those debts over time. The bankruptcy court would need to approve this plan before it could be put into action.

arrangements committee | arranger for disposal

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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