The people and the property
- Debtor: the person or entity in bankruptcy.
- Creditor: someone with a claim against the debtor.
- Estate: the legal pool of property interests created by the bankruptcy filing, subject to the relevant rules.
- Trustee: a person appointed to carry out duties in the case; the role varies by chapter.
The claim and the outcome
- Secured claim: a claim supported by an interest in collateral.
- Unsecured claim: a claim without that collateral support.
- Discharge: a legal release from personal liability for certain debts, subject to statutory limits.
- Confirmation: the court's approval of a bankruptcy plan.
Use definitions as an entry point
Words can have a more precise meaning in a statute, rule, or specific order than in ordinary conversation. Follow the source link for the official glossary and check the provision that controls your question.
Go to the primary sources
Sources consulted September 7, 2026. Check the current law, rules, and case record before relying on this material.