Bankruptcy Terminology
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FACE SHEET FILING
A bankruptcy case filed either without schedules or with incomplete schedules listing few creditors and debts. (Face sheet filings are often made for the purpose of delaying an eviction or foreclosure.)
FAMILY FARMER
An individual, individual and spouse, corporation, or partnership engaged in a farming operation who meet certain debt limits and other statutory criteria for filing a petition under chapter 12.
FRAUDULENT TRANSFER
A transfer of a debtor’s property made with intent to defraud or for which the debtor receives less than the transferred property’s value.
FRESH START
The characterization of a debtor’s status after bankruptcy, i.e., free of most debts. (Giving debtors a fresh start is one purpose of the Bankruptcy Code.)
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