CTA Bankruptcy Crossword

Purpose

The purpose of this activity is to review key terms related to bankruptcy.

Instructions

Print the attached crossword sheet. Take a picture of your completed crossword.

Bankruptcy Crossword Puzzle Name: ACROSS 3. Type of debt that is not collateralized. 6. A party that agrees to be liable only if the debtor actually defaults on a loan. 7. Procedure got the secured party to establish priority in collateral over other creditors. 8. When a borrower has pledged collateral in order to obtain credit, that creditor is known as a creditor. 10. Property or land that a debtor promises to their creditor in case they fail to repay their debt. 11. Filing for bankruptcy protects the debtor through an immediate automatic DOWN 1. Written document that specifies the parties and the real estate and is filed with a state and/or local government agency, thereby becoming a public record that other can look up. 2. Tern that describes when a business venture no longer has adequate assets to maintain its operations and can no longer pay its bills as they become due in the usual course of trade and business. 4. Legal proceeding initiated when a person or business is unable to repay outstanding debts or obligations. 5. Term that describes the various steps of turning around a business in poor financial condition. 8. A third party that agrees to be primarily liable to pay for the loan by cosigning. 9. What the UCC calls a borrower