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Today's Terms
Disclosure statement
Definition:
A comprehensive disclosure document sent to creditors when they are asked to vote on a plan of reorganization in Chapter 11.
Reamortization
Definition:
If your loan is reamortized, the delinquency is added to the loan balance in order to bring your payments up to date. This increases your loan amount and will also increase your monthly payments.
Debtor
Definition:
The entity seeking protection from creditors under the bankruptcy laws.
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