What Are Preferential Payments in Bankruptcy?
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. Family members.
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