Collateral Debtor Unsecured Creditor 
Fraser
JUNE 25, 2020
The petition date is the date on which a debtor files a chapter 11 bankruptcy proceeding. The debtor is required to serve all known creditors with notice of the commencement of the chapter 11 case. Such relief may include a request to pay some unsecured creditors (such as employees or “critical vendors”) ahead of others.
Debt Free Colorado
JANUARY 27, 2022
In Chapter 7 bankruptcy proceedings, the phrase “non-exempt property” refers to a debtor’s estate property that does not qualify for a statutory exemption. ” The Trustee has the authority to seize and liquidate non-exempt property to benefit creditors. .” portion of the debtor’s home’s equity.
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PBWT
OCTOBER 27, 2021
In many chapter 11 cases, creditors’ committees can play a vital role in maximizing the recoveries of unsecured creditors. But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. The debtor operated 28 franchise restaurants primarily in the Sun Belt region.
Sawin & Shea
APRIL 24, 2024
Before someone makes a bankruptcy filing, it is not uncommon for debtors to feel as if they have to make some tough decisions. Which creditors can they pay? This typically occurs because the debtor doesn’t have the money to pay all of their creditors, so they feel they need to rank which ones are more important to pay first.
Burr Forman
JANUARY 26, 2022
In his bankruptcy practice, Eric focuses on representing creditors, including financial institutions, special servicers, private equity groups, and other non-traditional lenders as well as other secured and unsecured creditors in state and federal court litigation, chapter 11 bankruptcy cases, and in out-of-court workouts and resolutions.
Sawin & Shea
APRIL 10, 2024
Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. In this blog, we discuss what assets and property a debtor may lose in Chapter 7 bankruptcy.
Debt Free Colorado
DECEMBER 9, 2021
Creditors are prohibited from contacting you after your petition is filed. While bankruptcy law forces you to sell some assets to repay unsecured creditors, the majority of Americans keep all of their property because of bankruptcy limits on the categories of assets that may be used to settle debts. This is a secured obligation.
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