Debt Assessment
/ˈdɛt əˌsɛsmənt/
Definitions
- (n.) The process of evaluating the amount and validity of a debt owed by a debtor to a creditor, often conducted for legal or financial purposes.
The court ordered a debt assessment to determine the exact amount owed by the defendant.
Forms
- debt assessment
- debt assessments
Related terms
See also
Commentary
In drafting, clarify whether the assessment pertains to legal disputes, insolvency proceedings, or financial audits, as the context impacts procedural requirements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.