Filing Bankruptcy – A Glossary of Terms (Part 5)

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A Glossary of Terms for Filing Bankruptcy (Part 5)

RGG Law offers another entry in our ongoing blog series, breaking down some of the more mysterious terms when it comes to filing bankruptcy. At RGG Law, our team of professional bankruptcy lawyers and bankruptcy attorneys knows how overwhelming filing bankruptcy can be, and some of the complex terminology can just make things more stressful. We want to help you feel more in control of your case.

Credit Counseling

Credit counseling is a potentially useful service that can be provided for someone filing bankruptcy. A qualified credit counselor will help the debtor to put together clear, concrete plans to pay back their debt, either on their own terms or on the terms set by the outcome of a bankruptcy case.

A debt management plan can be extremely helpful if you are overwhelmed by the amount you owe, or the number of payments you need to keep track of. The downside of credit counseling is that it can also be expensive in itself.

Reasonable Investigation

A “reasonable investigation” in the case of someone filing bankruptcy refers to the work a debtor’s attorney is required to do in order to accurately assess the validity of that debtor’s case.

This requires the attorney to research elements of the bankruptcy petition to assess their accuracy through inquiry and investigation, to essentially prove that their petition to declare bankruptcy is warranted and truthful.

Repeat Filings

“Repeat filings” is a simple term that can have some far-reaching implications. If you have previously filed for bankruptcy, then whether or not you can file again depends on the type of bankruptcy, as well as the amount of time since the previous filing, and whether your debts for that prior case were fully paid or discharged.

It is important to know that, while there is technically no limit on the amount of times you can actually file, repeat filings will potentially limit whether your debts can be discharged.


Fiduciary duty is a legal term that refers to the relationship between two parties, with one obligated to act entirely in the interest of the other.

For example, the arrangement between a client and a bankruptcy attorney puts the attorney in the role of the “fiduciary”, the person who must act only in the interest of their client. The client, then, will be the fiduciary’s beneficiary – the person who benefits from that obligation.

Filing Bankruptcy with RGG Guidance

Remember that these blog entries are intended as purely educational, and some of the terms here can have conflicting or more nuanced definitions beyond the basics we try to provide. If you need detailed and understanding guidance when you are filing bankruptcy, contact RGG Law today.