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Debtor in possession financing is provided to some company experiencing Chapter 11 bankruptcy process to provide a new financial beginning, under strict conditions. This debt often takes priority total other debt, equity along with other company-released investments.
Debtor in possession financing is provided to some company experiencing Chapter 11 bankruptcy process to provide a new financial beginning, under strict conditions. This debt often takes priority total other debt, equity along with other company-released investments.
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.
The co-debtor stay is applicable in chapter 13.
A reaffirmation agreement is an agreement between the debtor and the lender that the underlying debt with not be discharged in bankruptcy. The debtor will remain personally liable for repaying the debt even after the bankruptcy.
Arnold B. Cohen has written: 'Guide to secured lending transactions' -- subject(s): Forms, Law and legislation, Loans, Security (Law) 'Bankruptcy, secured transactions, and other debtor-creditor matters' -- subject(s): Bankruptcy, Debtor and creditor, Security (Law) 'Debtor-creditor relations under the Bankruptcy Act of 1978' 'Teaching notes to accompany book 2 of Debtor-creditor relations under the Bankruptcy Act of 1978' -- subject(s): Cases, Debtor and creditor 'Bankruptcy, article 9, and creditors' remedies' -- subject(s): Bankruptcy, Cases, Debtor and creditor
When any bankruptcy action is dismissed for any reason the debtor(s) lose(s) bankruptcy protection. This means creditors may pursue collection of the debt, including, in most situations filing a lawsuit. A chapter 13 bankruptcy dismissal will remain on the debtor's credit report for 7 years.
If the judgment debtor is already in bankruptcy, there is nothing you can do. If the judgment is for a debt for which discharge is not allowed, it survives the bankruptcy. If no bankruptcy has been filed, you can try to attach or levy on some property of the debtor that has some value, or equity.
The debtor's involvement with the bankruptcy judge typically involves attending court hearings and presenting their case or responding to questions from the judge or opposing counsel. The debtor may also need to provide documentation or evidence as requested by the judge to support their bankruptcy claims. Overall, the debtor is expected to cooperate and comply with the instructions and decisions of the bankruptcy judge throughout the bankruptcy process.
Yes, most judgments can be discharged in a chapter 7 bankruptcy.
Creditors must always eliminate the debt owed by the debtor when there is a bankruptcy.