3 years ago

a guide for the pro se creditor in a bankruptcy case - District of ...

a guide for the pro se creditor in a bankruptcy case - District of ...

59 SETOFF A claim by a

59 SETOFF A claim by a debtor that the creditor owes the debtor money which should be subtracted from the amount claimed by creditor. By claiming a setoff the debtor does not necessarily dispute the creditor’s claim, but he/she claims the right to prove that the creditor owes him/her an amount of money from some other transaction and that the amount should be deducted from the creditor’s claim. STIPULATION SUMMONS A voluntary agreement between opposing parties. An official court document informing the party served that an action has been filed against them, the court where the summons originated and that the party is required to appear, on the date indicated on the summons, and answer the complaint in such action. TRANSCRIPT A written record prepared by the court reporter of the proceedings that occurred in Court. UNITED STATES TRUSTEE An officer of the Department of Justice who supervises trustees and the administration of bankruptcy estates. The U.S. Trustee appoints trustees, and monitors plans, disclosure statements, creditors’ committees, applications for compensation, and the process of bankruptcy case, in addition to performing other statutory duties (see 28 U.S.C. § 586). UNDERSECURED CLAIM A claim secured by property that has a value less than the amount owed. UNLIQUIDATED CLAIM A claim for which a specific value has not been determined. UNSCHEDULED DEBT A debt that should have been listed in the schedules filed with the Court but was not.

60 UNSECURED CLAIM A claim with respect to a debt, the payment of which is not backed up by collateral or a lien on property of the debtor. UNSECURED DEBT VACATE VENUE A financial obligation that is not backed by a security agreement or a lien on property of the debtor. To cancel, annul or render of no effect. If a judgment or order is vacated, it is as if the order or judgment was never entered. The proper locality of a legal proceeding. VERIFICATION Confirmation of the correctness, truth, or authenticity of a complaint, statement or document. Federal Rules of Bankruptcy Procedure 1008 requires that bankruptcy petitions, lists, schedules, statements, and amendments to be verified as provided in 28 U.S.C. § 1746. For additional definitions of terms used in Bankruptcy, please refer to 11 U.S.C. § 101.

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