Glossary U

uncompensated transfer of assets – A practice whereby an individual gives an asset, such as money, to someone else so she can apply and qualify for Medicaid. The Department of Health & Human Resources assesses a penalty for such actions if done within a certain time period prior to applying for Medicaid.   

Unfair or Deceptive Acts or Practices statutes – Consumer protection laws designed to protect consumers from defective workmanship and fraud.

unsecured creditor – A creditor who does not have any ownership interest in the property purchased with the money loaned to the debtor. This type of creditor would have to take an individual to court in order to force him to sell something to pay the debt.