money and financial problems

A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code.

A 341 notice is the notice sent by the bankruptcy clerk to the debtor, the creditors, and all other interested parties, notifying them of the date, time, and place in which the 341 meeting (creditors meeting) will be held. Among other things, the 341 notice will state:

A 342 notice is the notice sent before the commencement of a bankruptcy proceeding by the bankruptcy clerk of the bankruptcy court to the debtor, which contains:

401(k) plans (also just called 401k) are types of retirement plans that an employer sponsors which allows employees to defer taxes.

707(b) action is defined in Chapter 7 of the United States Bankruptcy code as a motion by the court, the United States trustee, the trustee, the administrator, or any party in interest to

A/R is the abbreviation for accounts receivable.

[Last reviewed in June of 2022 by the Wex Definitions Team]

Ab intestato is a Latin term meaning "by intestacy." The term refers to laws governing the succession of property after the previous owner of the property dies without a valid will.

[Last reviewed in June of 2022 by the Wex Definitions Team]

• Latin terms

Abatement is the act of reducing or nullifying something. Multiple subjects throughout law are subject to abatement and the term appears in many locations.

The absolute-bar rule prevents a creditor from obtaining a deficiency judgment if collateral was disposed of in a commercially unreasonable manner. 

Abuse is an action that intentionally causes harm or injures another person. This can refer to physical abuse, psychological abuse, mental abuse, or child abuse (see below). 

Abuse is also to misuse something—e.g., abuse of process.