Bankruptcy Glossary
Bankruptcy Law Terms -U-
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 #
UCC: Uniform Commercial Code. A statute adopted that covers sales, negotiable instruments, security interests and other commercial transactions.
Under-secured debt: Debt secured on certain parts of the debtor's property by means of a security interest, lien or other security instrument, but for which the value of the property securing the debt is less than the amount of the debt.
Unliquidated claim: A claim for which the amount and liability have not been precisely determined and which cannot be determined without an evidentiary hearing.
Unmatured claim: A claim for a debt that has come into existence but whose date of payment has not yet come due.
Unscheduled debt: A debt that should have been listed by a debtor in the schedules filed with the court but was not.
Unsecured debt: Those debts for which the extension of credit was based solely on an evaluation of the debtor's ability to pay, as opposed to secured debts.
