Bankruptcy Glossary

Bankruptcy Law Terms -G-

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

• Gap period

• Garnishment

• Good faith

Glossary of Bankruptcy Law Terms

Legal Glossaries Index Page

Gap period: The time between the filing of an involuntary petition and adjudication that the debtor is a "bankrupt." 

Garnishment: A creditor's seizure of property of the debtor in the possession of a third party (for example a wage garnishment).

Good faith: Debtors who have filed their cases or plans in an honest way showing they are trying to solve their debt problems without unfair manipulation of the system or fraud against a creditor.