Sawin & Shea

NOVEMBER 15, 2023

In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. What is the difference?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Collections Law

DECEMBER 14, 2021

Unfortunately, many debtors do not readily pay up, even with a court order against them. Those methods often include seizing the debtor’s assets. Many people have heard of asset seizure in various contexts, perhaps when someone fails to pay taxes or in a criminal case. How does asset seizure work?

Commercial Collection 52

Commercial Collection Collections Debtor Judgment 52

Debt Free Colorado

MARCH 3, 2023

Through a legal process called bankruptcy, some people who are unable to pay their debts can start over financially, either temporarily or permanently. This type of bankruptcy does not stop secured creditors from seizing your property, so if you have money to pay the debt, this isn’t the best option to take.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

BN Lawyers

MARCH 23, 2020

This helps employees by allowing them to seek unemployment and other public benefits while compensating the people who continue to work. Taking additional debt in that situation just dilutes recovery for creditors and opens management up to potential liability. Drawing on secured credit facilities is less of a winning proposition.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67