General Unsecured Claim
Creditor's claim without a priority for payment for which the creditor holds no security (or collateral). If the available
funds in the estate extend to payment of unsecured claims, the claims are paid in proportion to the size of the claim
relative to the total of claims in the class of unsecured claims.
Lien
A charge upon real or personal property for the satisfaction of a debt or discharge of an obligation. Examples would
include: judgments, taxes, mortgages, deeds of trust, etc.
Liquidated
A debt that is for a known number of dollars is liquidated. An unliquidated debt is one where the debtor has liability,
but the exact monetary measure of that liability is unknown. Tort claims are usually unliquidated until a trial fixes the
amount of the liability of the tort feasor.
Non-dischargable
A Chapter 7 bankruptcy case in which the trustee determines, after the applicable exemptions, that there are no
significant assets to liquidate. The debtor retains all of their real and personal property.
No Asset Case
A debt that cannot be eliminated in bankruptcy. Non dischargeable debts remain legally enforceable despite the
bankruptcy discharge.