There are basically two ways to handle post-petition consumer debt in your Chapter 13 bankruptcy: 1  Incur the debt without court approval. If you do this, you can either pay the debt outside your plan, or attempt to include it in your plan by seeking a plan amendment. 2  Incur the debt with prior court approval.
Freebase(0.00 / 0 votes)Rate this definition: Liberalization. In general, liberalization refers to a relaxation of previous government restrictions, usually in areas of social or economic policy. In some contexts this process or concept is often, but not always, referred to as deregulation.
Liberalization Clause A clause in property insurance contracts that provides: if policy or endorsement forms are broadened by legislation or rulings from rating authorities and no additional premium is required (e.g., if it drops a policy exclusion), then all existing similar policies are assumed to include the broadened coverage.