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Does bankruptcy discharge unsecured loan liens other than government and collateral liens?
Tomolly277
Generally the term lien means the loan is secured to something...(although agreeably there are general liens against all you own generally). Government 9especially property) and Collateral liens (by definition) are again, secured debts. BK includes and effects everything you own (assets) and everything you owe (liabilities)- each with some minor exceptions. You do not pick and chose what is included....and again eveything must be listed. The secured or not issue relates to the funds derived from that asset being earmarked to a specific creditor FIRST and then available to any other of lower "status". Cerditors and assets are listed, they are then ordered as to priority, and one is used to satisfy the other...with any excess basically becoming dischargable by the court. Generally the term lien means the loan is secured to something...(although agreeably there are general liens against all you own generally). Government 9especially property) and Collateral liens (by definition) are again, secured debts. BK includes and effects everything you own (assets) and everything you owe (liabilities)- each with some minor exceptions. You do not pick and chose what is included....and again eveything must be listed. The secured or not issue relates to the funds derived from that asset being earmarked to a specific creditor FIRST and then available to any other of lower "status". Cerditors and assets are listed, they are then ordered as to priority, and one is used to satisfy the other...with any excess basically becoming dischargable by the court.
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Where can you find an unsecured installment loan after bankruptcy discharge legal in nc?
no where that i can find
What does it mean when your mortgage company has released its lien on my home after a bankruptcy discharge?
It means your property (real estate) is no acting as collateral for the loan that you took out. Secured loans have collateral attached, such as a home or vehicle which the lender can reposses if you don't pay. Unsecured loans have no collateral (such as credit cards), therefore if you don't pay, all the lender can due is sue you in court.
Can an individual unsecured creditor not a credit card company get property such as a computer back if the bankruptcy was discharged and they were notified of it but are now making demands?
If the debt was truly unsecured and you properly listed the debt in the bankruptcy, then the debt has been discharge. If the creditor persists in violating the discharge order, the creditor could be held on contempt of court and held liable for fines and attorney's fees.
Is subordinated debt more senior than senior unsecured?
No. While both tranches of debt are unsecured (no collateral pledged in support of the debt obligation), by definition, senior unsecured ranks higher in the capital structure than subordinated debt, meaning that senior unsecured creditor claims will receive payment prior to subordinated debt creditors upon bankruptcy of the debtor.
Are employees unsecured priority claims in Bankruptcy Court?
Unpaid employees are priority unsecured bankruptcy claims up to approximately 10,000.
Can a creditor sue for unsecured debt?
* An unsecured debt, generally, is a debt that is not backed by collateral. For instance a car loan is secured by the security interest the lender has in the car. A credit card which is not backed by collateral is not secured by collateral therefore it is an unsecured debt. Generally, yes a creditor can sue for unsecured debt, the creditor just doesn't have any interest in the good that formed the basis of the loan.
Can your house be taken for unsecured debt in Illinois?
In general, an unsecured debt cannot lead to the forfeiture of a solid asset like a house. Unsecured debt is not tied to collateral.
How is secured lending different from unsecured lending?
Secured lending differs from unsecured lendings in a number of a ways, although there is one big difference between them. A secured lending is such named before the lendee puts up collateral against the debt to the bank. An unsecured lending has no collateral.
Is an unsecured non priority still a debt owed?
It is owed until it is discharged in bankruptcy or paid, either in full or as a settlement. Technically, the debt is owed after discharge in bankruptcy, but the creditor or its agents and successors in interest are permanently enjoined from any collection activities.
Is recourse discharged in bankruptcy?
It depends upon the what type of recourse you want to discharge in a bankruptcy like secured loan or unsecured loan or something other.If you wants to know more about bankruptcy and its process then here i want to give you one site just check it out you will get all the information there.http://www.filingbankruptcypros.com/
Can you get an unsecured loan with bad credit?
It is very difficult to get an unsecured loan with bad credit. This is because of the nature of the loan. When a person gets an unsecured loan, it means there is no collateral to back the loan up with.
Are Unsecured loans tied to property or collateral?
i like to know wt is collectrol properties
