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Essay

bankruptcy

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Johnny G

 

Date added:

June 21, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 461

 

Was viewed:

1344 times

 

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Essay content:

However, actions to recover child support or alimony are not suspended. In a situation in which there are both secured and unsecured creditors, there is a special interest in preventing creditors from obtaining an unfair advantage over other creditors. Unsecured creditors must file a ?proof of claim' this document states the amount of the creditor's claim against the debtor...
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Secured creditors are not required to file a proof of claim unless the amount of claim exceeds the value of the collateral. Voidable transfers are another form of protection between creditors. Preferential transfers or liens made to a creditor by the debtor within 90 days before bankruptcy can be voidable if creditor receives more from the transfer than it would from the liquidation...
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