An arrangement negotiated between a debtor and creditor as a way to take care of a debt, by paying it off or through loan forgiveness. Workouts are often created to avoid bankruptcy or foreclosure proceedings.
An exemption that allows a debtor to apply a certain dollar amount to any type of property to make it -- or more of it -- exempt.
Life insurance coverage that runs for the insured’s natural life. Whole life insurance provides both term life insurance and a savings plan (i.e., accumulation of “cash value” or “surrender value”) that allows for the insured, at any time after an initial period but before the insured’s death, to surrender the policy for that value or sometimes to borrow against it without surrendering the policy. Also termed ordinary life insurance; straight life insurance; permanent insurance.
A whistleblower who raises concerns about a company's misconduct or wrongdoing on a blog.
Stock that is sold with a face value that is much greater then its actual (market) value. While watered stock may appear to be a good value, due to corporation laws, the stock holder may be exposed to liability up to the face value (rather then having their liability limited to the price paid).
The selling and repurchasing of an asset, usually stocks or bonds, within a very short time frame. People used to do this to realize a loss for tax purposes, but the IRS caught on and made such losses nondeductible for most taxpayers.