PRIORITY DEBT
\pɹa͡ɪˈɒɹɪti dˈɛt], \pɹaɪˈɒɹɪti dˈɛt], \p_ɹ_aɪ_ˈɒ_ɹ_ɪ_t_i d_ˈɛ_t]\
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A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.
By Oddity Software
