Hudson Weir

SEPTEMBER 11, 2023

Secured loans or unsecured loans are crucial for many businesses, providing the investment they need to achieve their objectives and grow. According to the British Business Bank , there was a 12.8% increase in gross bank lending to SMEs between 2021 and 2022. What is a secured loan?

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Sawin & Shea

APRIL 24, 2024

Secured vs. Unsecured Creditor A secured creditor has a lien of some kind on a debtor’s property. Bank-owned assets that have a recurring monthly payment, like mortgage payments or an auto loan fall under this category. Unsecured creditors lend money without any collateral.

Bankruptcy 52

Bankruptcy Unsecured Creditor Debtor Creditors 52

Sawin & Shea

APRIL 10, 2024

If you are not, this test determines how much you are required to pay back to your unsecured creditors in a Chapter 13 reorganization. Mortgages and car loans are both considered secured debts because they both have backing collateral. This is a test that determines if you are eligible for a Chapter 7 bankruptcy.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. Secured creditors include leasing companies and banks.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

ABI

JANUARY 19, 2024

The Bankruptcy Court further held the secured creditor's prepetition lien on accounts did not extend to proceeds from court-approved postpetition sale of real property. In 2017, Allegiance Bank loaned Burts Construction, Inc. The loan was secured by a lien on “all assets of the debtor, including all accounts.” [1]

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable. Fortunately, you can obtain a secured card that includes collateral.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Debt Free Colorado

JANUARY 27, 2022

Another aspect is the increased accessibility of credit loans, which makes it simpler for Americans to end up spending more than they can afford. They will sell them and use the revenues to pay for the bankruptcy’s fees , charges, and expenditures before paying creditors. The Trustee seizes all non-exempt assets.

Bankruptcy 75

Bankruptcy Chapter 7 bankruptcy Unsecured Creditor Debtor 75