General Glossary Terms

The process by which federal bankruptcy courts help consumers and businesses in financial trouble to eliminate some debts or repay them under the protection of bankruptcy courts.

A trial held before a judge only. The judge will listen to the facts of the case and make a determination of guilt or innocence as well as setting appropriate penalties. For most states, in a criminal trial, a bench trial may happen if the defendant has waived his or her rights to a jury trial. In a civil trial, both parties in the dispute must agree to waive their rights to a jury.

Refers to the person or entity (like a charity) who receives assets or profits from an estate, a trust, an insurance policy or any other financial vehicle from which assets are distributed after death.

(BBB) is an organization that helps to settle disputes between consumers and businesses; provides “business reliability reports”; reviews charities; and provides consumer and business education.