Sawin & Shea

APRIL 24, 2024

Before someone makes a bankruptcy filing, it is not uncommon for debtors to feel as if they have to make some tough decisions. Which creditors can they pay? This typically occurs because the debtor doesn’t have the money to pay all of their creditors, so they feel they need to rank which ones are more important to pay first.

Bankruptcy 52

Bankruptcy Unsecured Creditor Debtor Creditors 52

Debt RR

DECEMBER 13, 2019

Many businesses are both debtors and creditors. Just like individuals, businesses often have mortgages, vehicle loans, and other secured loans. Debt can also be secured using intellectual property, equity, and other soft debt. Missing payments on secured debt causes the creditor to repossess the property as recourse.

Chapter 7 bankruptcy 43

Chapter 7 bankruptcy Bankruptcy Creditors Retail 43

BN Lawyers

MARCH 23, 2020

Secured lenders are the lenders with liens against the real estate, equipment, accounts, or other property of the business. These parties could foreclose or repossess the property securing the loans. They could lock you out of your location or repossess equipment. These creditors are not of equal importance.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67