Sawin & Shea

JANUARY 25, 2022

However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral.

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Sawin & Shea

NOVEMBER 15, 2023

Declaring bankruptcy will discharge most types of debt but not others. Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. It matters because not all debts are equal in the eyes of the law. Secured vs Unsecured Debt: What’s the Difference?

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Hudson Weir

JANUARY 26, 2024

Debt restructuring aims to help ease a company’s financial difficulties via an agreement between a company and its creditors. In the first meeting, court permission is sought to hold a meeting of creditors (the Convening Hearing). A restructuring plan is then proposed to all of a company’s creditors.

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BN Lawyers

MARCH 23, 2020

Work with Creditors. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. Many creditors will be willing to work with businesses. Creditors face their own pressures. To the extent possible, payments to creditors should be delayed while negotiations are ongoing.

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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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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. Indenture Agreement Violations.

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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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