18 U.S.C. Sec. 152(7) Definition of “In Contemplation of Bankruptcy Proceeding” is a legal definition of the term “in contemplation of bankruptcy.” It is used to describe the state of a person or entity when they are considering filing for bankruptcy. The definition states that “in contemplation of a case under title 11” means the conduct of a debtor whose “acts or omissions” indicate that either: (1) a bankruptcy petition has been filed; or (2) that the debtor intends to or is considering filing a bankruptcy petition. This definition applies to individuals, partnerships, corporations, and other entities. There are two types of “in contemplation of bankruptcyprepetitiontion and post-petition. Pre-petition “in contemplation of bankruptcy” is when a debtor is considering filing for bankruptcy but has not yet done so. Post-petition “in contemplation of bankruptcy” is when a debtor has already filed for bankruptcy and is considering additional steps to resolve their financial issues.