Sawin & Shea

JANUARY 25, 2022

What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral. If you miss payments and default on this type of debt, the creditor can seize the asset to liquidate it and apply those proceeds to the money you owe. Examples of Secured Debts.

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Unsecured Debt Collateral Secured debt Bankruptcy 52

Sawin & Shea

NOVEMBER 15, 2023

If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. Chapter 13 involves commitment from the declarer to repay a portion of their debt over a specified period (usually three to five years).

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Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

ABI

JANUARY 12, 2022

In general, under principles of equitable subordination, a court may subordinate the claims of a creditor for conduct that is unfair to the other creditors of a bankruptcy estate. The pertinent misconduct must benefit the creditor that engaged in misconduct or harm the other creditors’ position in the bankruptcy estate.

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Debt Free Colorado

MARCH 3, 2023

Are there Available Alternatives If You Have a Lot of Debt and don’t Want to File for Bankruptcy? Are My Creditors capable of appealing My Bankruptcy? What Debts are Discharged in Bankruptcy? What Can’t Bankruptcy Do? What Should I Consider Before Filing for Bankruptcy? Lastly, Do I require Legal Counsel to File for Bankruptcy?

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Debt RR

DECEMBER 13, 2019

Debts can quickly cripple a business, and negotiating more favorable terms with creditors is usually the best way out. Businesses restructuring debt typically do so because they’re having trouble meeting obligations, and it goes both ways. Many businesses are both debtors and creditors. Past-Due Secured Debt.

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Collection Industry News

DECEMBER 21, 2020

Currently, Chapter 7 allows consumers with nominal disposable monthly income to discharge their debts after liquidating any non-exempt assets to repay their creditors. Chapter 13 provides for consumers to discharge their debts after paying their disposable income to creditors under a three- or five-year repayment plan.

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Bankruptcy Chapter 7 bankruptcy Student loans Student Loans 40