An agreement beteen two creditors agreeing in advance how their competing interests in their common borrower will be dealt with.
A creditor agreement is a contract between two parties. The agreement outlines the term of payments based on purchases and other things such as mediation.
It's basically an agreement between the debtor and creditor on how the debtor is to pay the creditor that arises when debtor has filed bankruptcy.
When a guarantor is released without the creditor's consent, it may jeopardize the creditor's ability to collect on the debt if the primary borrower defaults. The creditor may lose the guarantee provided by the guarantor, who may no longer be obligated to fulfill their obligations. This could lead to increased risk for the creditor and may impact the terms of the loan or credit agreement.
Assuming that there is a written agreement showing that you agreed to serve as a guarantor on behalf of a creditor, the guarantor (or as you call it, a guaranteer) generally has the same rights and defenses against a creditor as the debtor would have. Often, the written agreement guaranteeing the creditor, will spell out what rights and defenses a guarantor may assert.
Debt collection in Kentucky is long. The creditor has up to 15 years to collect on a written agreement. They have 5 years for an Oral agreement or Credit Card.
Not unless it is in writing unfortunatly.
Repossess or foreclose on the secured property if the agreement is in default.
Not unless it is so specified in the lending agreement. There is no state statute that prevents a creditor regardless of the nature of the debt from seeking recovery of monies still owed on a valid contractual agreement.
Inter-service
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
If the BK has not been discharged, you can ask to have it reopened and you filing amended to include the creditor. That will be expensive, though. If that isnot possible, then you owe the creditor the full amount of the debt, and should try to work out an agreement for repayment.
An antichresis is an agreement by which the debtor gives his creditor the use of real property to be able to pay interest and principal of his debt.