There are so many bankruptcy terms that at times it can be confusing for bankruptcy filers and professionals alike.  Therefore, we can take them one letter at a time.  Here is the letter “A”:

Administrative Creditors are creditors whose services were necessary to properly administer a case, and are therefore entitled to receive payment.

Assets are anything of value in the debtor’s estate, whether or not the debtor has possession of them or if money is owed on them.

Automatic Stay happens upon the filing of a bankruptcy petition, creditors must seize collections efforts against the filer.

Feel free to review other bankruptcy terms from our Fremont Bankruptcy Topic Library Page!