Helpful Terms

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Mediation
Mediation is a way of resolving conflict between two or more individuals. In the course of a bankruptcy, the parties involved in a disagreement can agree to work with an impartial and independent person, called a "mediator', who will help them settle their dispute instead of going to court.

In bankruptcies mediation is available to resolve two types of disputes:

1. disagreements over the amount of money the bankrupt will pay to the trustee for the benefit of the creditors during the bankruptcy (called surplus income); and
2. disagreements regarding the conditions that the trustee has recommended for a bankrupt's discharge.