PBWT
OCTOBER 27, 2021
Post-petition, the debtor operated as a debtor-in-possession and, with the consent of one its largest pre-petition lenders, used cash collateral from its retail locations to continue operating. The debtor encountered financial problems related to the onset of the COVID-19 pandemic, resulting in a chapter 11 filing in April 2021.
Debt RR
DECEMBER 13, 2019
If collateral is seized, it often occurs in court, leaving a record for other partners and vendors to dig up. Retailers Gymboree, Charlotte Russe, Payless, Roberto Cavalli, and Diesel filed Chapter 7 bankruptcies in 2019. There were 45 major business bankruptcies filed in 2019, and a large portion were in retail.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Collection Industry News
JANUARY 13, 2024
Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% However, while mortgages and auto loans, for example, are backed by collateral that likely eventually become a pure asset, credit card accounts are simply debt on a ledger. over the same period.
Payment Savvy
JULY 23, 2023
Type 02 – Pawnbroker in Firearms: Similar to Type 01, but it enables the licensee to operate as a pawnbroker, accepting firearms as collateral for loans. For instance, it’s the go-to license for retail stores that sell firearms. This license is versatile and caters to a variety of business models.
Credit Corp
DECEMBER 4, 2023
These can include: Mortgage loans Installment loans Credit cards Retail accounts Finance company accounts You don’t need all of these account types on your credit report, but you should aim to have more than one since a person with an 800 credit score has an average of 8.3 open accounts.
Debt RR
JANUARY 24, 2020
Businesses need collateral for secured loans, which can come in different forms: Asset-backed loans. Collateral can be real property or liquid assets. As lenders can seize the collateral, secured loans are generally easier to approve for businesses without a lot of credit or financial history. Retail orders.
Credit Corp
APRIL 26, 2021
But online retailers and app-based companies have taken off to fill the new consumer need. Startup costs can easily top $10,000 and the fact that these loans are typically secured with collateral makes it easier to qualify for larger amounts. We’ve also seen an enormous change in the business landscape.
Expert insights. Personalized for you.
59 
Let's personalize your content