Priority Debt

Business, Legal & Accounting Glossary

Definition: Priority Debt


Priority Debt

Quick Summary of Priority Debt


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.




Cite Term


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Page URL
https://payrollheaven.com/define/priority-debt/
Modern Language Association (MLA):
Priority Debt. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 20, 2024 https://payrollheaven.com/define/priority-debt/.
Chicago Manual of Style (CMS):
Priority Debt. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/priority-debt/ (accessed: April 20, 2024).
American Psychological Association (APA):
Priority Debt. PayrollHeaven.com. Retrieved April 20, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/priority-debt/

Definition Sources


Definitions for Priority Debt are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd April, 2020 | 0 Views.