Consumer bankruptcy - A bankruptcy case filed to reduce or eliminate debts that are primarily consumer debts.⏎
Contingent claim - A claim that may be owed by the debtor under certain circumstances, e.g., where the debtor is a cosigner on another person's loan and that person fails to pay.⏎
Collateral - Property that is promised as security for the satisfaction of a debt.⏎
Claim - A creditor's assertion of a right to payment from a debtor or the debtor's property.⏎
Consumer debts - Debts incurred for personal, as opposed to business, needs.⏎