Sawin & Shea

NOVEMBER 15, 2023

What’s the Difference Between Chapter 7 and Chapter 13? Put simply, Chapter 7 is a liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets.

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Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Fraser

JUNE 25, 2020

Because debtors require sufficient cash to operate their businesses and pay for the administrative expenses of the chapter 11 process, many seek interim court approval for financing (called “debor-in-possession” or “DIP” financing) and/or the use cash collateral that is subject to a secured creditor’s lien. Walton, Jr.’s

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Creditors Bankruptcy Unsecured Creditor Debtor 72

Sawin & Shea

JANUARY 25, 2022

In some cases, the assets or secured interest is something a creditor voluntarily agrees to in a lien; in other cases, the lien may be involuntary. However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Debt Free Colorado

MARCH 3, 2023

Through a legal process called bankruptcy, some people who are unable to pay their debts can start over financially, either temporarily or permanently. Since the effects are severe and long-lasting, bankruptcy is typically seen as the last option for managing debt.

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52