consumer debtor

consumer debtor
consumer debtor
A natural person who is bankrupt or insolvent and whose aggregate debts, excluding any debts secured by the person's principle residence, do not exceed $75,000 or such other maximum as is prescribed. (Dictionary of Canadian Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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  • consumer credit — n: credit extended by merchants or banks to finance the purchase of consumer goods (as home appliances) or services (as travel or hotel accommodations) compare consumer debt at debt Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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