Adversary Proceeding
A lawsuit filed in the bankruptcy court which is related to the debtor's bankruptcy case. Examples are complaints to
determine the dischargeability of a debt and complaints to determine the extent and validity of liens.

Arrears
The amount that is unpaid and overdue as of the date the bankruptcy case is filed. The word "arrears" is usually
used when referring to back child support, back alimony owed, or the amount that is past due on mortgage payments
(including interest and penalties).

Assets
Personal possessions of value, including cash, real estate, vehicles and investments.

Automatic Stay
An injunction that stops lawsuits, foreclosure, garnishments and all collection activity against the debtor the exact
date a bankruptcy petition is filed Bankruptcy: By filing bankruptcy in federal court, an individual or individuals can
restructure or relieve themselves of debts and liabilities.

Avoidance
The Bankruptcy Code permits the debtor to eliminate (avoid) some kinds of liens that interfere with (or impair) an
exemption claimed in the bankruptcy. Most judgment liens that have attached to the debtor's home can be avoided if
the total of the liens (mortgages, judgment liens and statutory liens) is greater than the value of the property in which
the exemption is claimed. This is sometimes called "lien stripping."

Avoidance Powers
Rights given to the bankruptcy trustee or the debtor in possession to recover certain transfers of property such as
preferences or fraudulent transfers or to void liens created before the commencement of a bankruptcy case.
NEXT PAGE