What is a secured claim in bankruptcy?

Answer In bankruptcy, a secured claim falls between a priority claim and an unsecured claim in terms of priority. A priority claim such as alimony, tax debts or court judgments must be paid in full. Unse... Read More »

Top Q&A For: What is a secured claim in bankruptcy

What are the treatments for secured creditors in Chapter 13 bankruptcy?

In Chapter 13 bankruptcy, a debtor must have enough income to repay mandatory debts, such as secured claims, in full over the life of the plan. Plans range from three to five years.Secured DebtA se... Read More »

What is proof of claim in bankruptcy?

Several forms are unique to bankruptcy court. A key form is the proof of claim. If you are a creditor, it is crucial that you understand the purpose and use of a proof-of-claim form.FunctionThe pri... Read More »

What happens when you claim bankruptcy?

When you claim bankruptcy, a number of things will happen to move your case forward. It's important to stay on top of every step required to successfully file bankruptcy, or risk having your case f... Read More »

How to Claim Bankruptcy in Michigan?

One of the unfortunate things about debt is that sometimes it becomes too difficult to pay off. When this happens, the only logical choice is to either come to a repayment agreement with your credi... Read More »