Chapter 13 Bankruptcy to Circulation Allowance

 

Chapter 13 Bankruptcy

A Chapter 13 Bankruptcy is a type of bankruptcy procedure for consumers, in which a court-appointed administrator reorganizes the consumer’s debt payments. Chapter 13 bankruptcy does not eliminate debt; instead it structures a payment plan based on the consumer’s available income. If the consumer has insufficient or no income, chapter 13 bankruptcies often roll into a chapter 7.

Chapter 7 Bankruptcy

A Chapter 7 Bankruptcy is a type of bankruptcy procedure for consumers, in which all of a consumer’s non-exempt liabilities are erased, but only after all of the consumer’s non-exempt assets are liquidated. Recent changes to federal bankruptcy laws have made chapter 7 filings more difficult for consumers with substantial assets and high income.

Charge Off

A charge off on a credit report is an entry that indicates that a creditor has stopped trying to actively collect a past-due debt and has a labeled it as a bad debt. This debt is technically in collection account and is considered a seriously negative item on a person’s credit report. Internally, the creditor will count that charged off account as a recorded loss or expense on its financial books.

Charrette

A charrette is an intensive meeting or conference during which designers address a design challenge or problem. Although applicable in many industries, charrettes are especially common with land use and urban planning. A successful charrette encourages participation by all stakeholders and, more importantly, joint ownership of the project’s design.

Charter

A charter is a legal instrument used to create a corporation.

Chase

The chase is the columnar spaces used to hold vertical piping, wiring and mechanical elements. This is typically part of the building core.

Chattel

Chattel is a legal term referring to any personal property that can be moved from the real estate property. For example, curtain rods and area rugs are considered chattel which are removed from the property unless negotiated by buyer and seller.

Chattel Mortgage

The chattel mortgage is a type of lien (legal claim) that applies to personal property, as opposed to applying to real property. Installment loans may sometimes be secured by the borrower’s chattel, or personal property, allowing the creditor to attempt to repossess certain items in case of default. For example, restaurant equipment which are financed with an installment loan may have chattel mortgages on them, prohibiting the restaurant owner or space landlord from keeping the equipment if the restaurant fails and the borrower defaults.

Chicago Bungalow

The Chicago bungalow type of bungalow housing that is still one of the most popular housing types in the city of Chicago, especially in older, middle-class neighborhoods. The hey days of bungalow construction were the decades before World War II. Today, they are highly prized for their architectural features. Most Chicago bungalows are brick one-and-a-half story homes, which were typically narrow to fit into Chicago’s standard 25-foot-wide parcels.

Child Support

Income provided to a parent for the purpose of child care from a separated or former spouse or partner is called child support. In the mortgage loan arena, income from alimony, child support and separate maintenance are acceptable qualifying income for mortgage loans. However, applicants must show that (1) they have been receiving that income and (2) that income will continue for at least three more years.

Chimney

The chimney is a vertical passage through which gas or smoke from a fire or furnace can pass. Most fireplaces use masonry chimneys, although metal (stove) fireplaces and chimneys are becoming more common.

Chimney Cap

The chimney cap is a covering applied to the chimney walls that prevents moisture from entering between the brick and flue lining.

Chimney Pot

The chimney pot is a pipe at the top of a chimney that is used to increase air flow for the fireplace and chimney, as well as prevent smoke build-up or back-up.

Chlorofluorocarbon (CFC)

As the name suggests, CFCs are a family of organic compounds that contain chlorine, fluoride and carbon. Because of its volatility, chlorofluorocarbon has been used as propellants in aerosol sprays, solvents in degreasers and refrigerants (such as Freon, a brand name for hydro-chlorofluorocarbons, HCFCs). Although easy to liquefy, CFCs and HCFCs drift into the upper atmosphere, where the chlorine in the compound eats into the ozone layer. Today, most industries have committed to phasing out the use of CFCs and HCFCs.

Chord

A chord is the horizontal members of a truss that connects either ends of the truss roof to the network of supporting pieces.

CHP

See the Cogeneration Plant entry.

Cinder Block

A cinder block is a masonry material often used as an alternative to brick and stone. Cinder blocks are made from ash (hence, the name cinder) and cement.

Cinder Fill

Ash or cinder placed around the foundation or below a basement is called cinder fill. Because of its relative dryness, it is intended to increase drainage of moisture.

Circuit Breaker Panel

The circuit breaker panel is a type of service panel that uses circuit-breaker switches instead of fuses to prevent excessive currents. Circuit breakers are heat-sensitive switches that automatically trip when excessive current causes a temperature rise in the circuit. After the problem has been corrected, the circuit breaker switch can be returned to the ON position to restore power flow.

Circuit Integrity System

Because so much of the fire safety equipment used in modern buildings today rely on electricity, from back-up lights to smoke alarms, the importance of keeping the electrical circuits that power those systems (as well as the building’s other functions) is of paramount importance. The term circuit integrity is a measurement of fire-resistance, as applied to the building’s electrical system.

Although today’s electrical systems can never be fully fireproof, there are steps that builders and building owners can take to increase the ability of its key electrical systems to survive and operate longer during a fire. The two main ways in which circuit integrity can be improved is by improving the coating used on electrical cables and by protecting cables and key electrical systems in rooms, piping or other enclosures with increased fire protection.

Circulation Allowance

The circulation allowance is a term used in the interior design of commercial real estate to describe the space requirement around work areas, including, but not limited to, hallways and aisles. The circulation allowance seeks to provide sufficient access space to individual workspaces.