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What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

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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10 Common Questions About Bankruptcy

Debt Free Colorado

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? Those who are no longer able to pay their debts can, however, start over through a legal process. What Can’t Bankruptcy Do?

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Court Declines to use Equitable Subordination to Subordinate a Claim that had no Impact on the Subsequent Bankruptcy Estate

ABI

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.