means test - Added to the Code
in 2005, the means test is intented to screen out those filing
Chapter 7 who are supposedly able to repay some part of their
debts. The test is found in Official Form B22a. Debtors who fail
the means test may convert their case to another chapter of bankruptcy.
meeting of creditors - The debtor must appear
at a meeting with the trustee to be examined under oath about
assets and liabilities. Creditors are invited but seldom attend.
The meeting is sometimes called the 341 meeting, after the section
of the Bankruptcy Code that requires it.
medical debt reduction - see medical bill help, medical debt relief, medical debt consolidation
money management - The process of budgeting, saving, investing, spending or otherwise in overseeing the cash usage of an individual or group. The predominant use of the phrase in financial markets is that of an investment professional making investment decisions for large pools of funds, such as mutual funds or pension plans.
money market - Market for short-term debt securities, such as banker's acceptances, commercial paper, repos, negotiable certificates of deposit, and Treasury Bills with a maturity of one year or less and often 30 days or less. Money market securities are generally very safe investments which return a relatively low interest rate that is most appropriate for temporary cash storage or short-term time horizons. Bid and ask spreads are relatively small due to the large size and high liquidity of the market.
mortgage - A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.
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