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LSDefine

Simple English definitions for legal terms

debtor's property

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A quick definition of debtor's property:

Debtor's Property: This refers to the things that belong to a person who owes money (called a debtor). When someone declares bankruptcy, their debtor's property is used to pay back the money they owe. This includes things they own and sometimes things they have in their possession. However, some things are protected and cannot be taken away to pay off debts.

A more thorough explanation:

Debtor's property refers to the belongings or assets that are owned or possessed by a person who owes money to someone else. This can include property that is exempt from being taken away during bankruptcy proceedings.

For example, if someone owes a large amount of money to a creditor and files for bankruptcy, their debtor's property may include their home, car, and personal belongings. However, if the person's home is exempt from being taken away during bankruptcy, it would still be considered part of their debtor's property.

Another example could be a person who owes money on a credit card. If they default on their payments, the creditor may try to seize their debtor's property, such as their bank account or valuable possessions, to pay off the debt.

Overall, debtor's property refers to the assets that a person who owes money possesses, which can be used to pay off their debts.

debtor's petition | debt pooling

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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