payment 
Jimerson Firm
NOVEMBER 16, 2020
In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. Entry Upon the Debtor’s Premises.
Jimerson Firm
DECEMBER 10, 2021
Many secured creditors and equipment leasing companies have encountered defaulted debts, where the debtors and lessees retain possession of the collateral, including cars, boats, machinery, or other equipment. Security Underwriting Consultants, Inc. Self-help asset recovery is more commonly known as repossession.
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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? Which ones will not get the payment they’re owed? They’ll help you avoid potential pitfalls within the bankruptcy code.
ABI
JANUARY 22, 2024
In a Chapter 12 bankruptcy, the debtor generally proposes a plan for repaying creditors from future earnings. [1] 1] Under a Chapter 12 plan, secured creditors will generally be paid in full, while unsecured creditors will often receive less than full payment. [2] 10] These loans were secured by $1.45
ABI
JANUARY 19, 2024
John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. the “Debtor”) $1.5 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3]
Debt RR
APRIL 22, 2021
However, if the debtor owes a significant amount, you may want to consider pursuing the debt in bankruptcy court. Even in a best-case scenario — as a secured creditor — you could be waiting up to six years to receive payment. These will contain a listing of the amounts owed to each creditor, whether secured or unsecured.
Jimerson Firm
FEBRUARY 11, 2022
The bankruptcy automatic stay prohibits all creditors from proceeding with collection actions, lawsuits, and enforcement of judgments against the debtor. Instead, the property owner debtor will have the opportunity to either assume or reject the executory construction contract as part of the bankruptcy. See 11 U.S.C. §
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