Remove Creditors Remove Judgment Remove Secured Creditor Remove Unsecured Debt
article thumbnail

What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

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.

article thumbnail

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?

article thumbnail

SURVIVING FINANCIAL DISTRESS FROM COVID-19 IN THE RESTAURANT, BAR, AND SERVICE INDUSTRY

BN Lawyers

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.