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bankruptcy
Essay specific features
Written by:
Johnny G
Date added:
June 21, 2013
Level:
University
Grade:
A
No of pages / words:
2 / 461
Was viewed:
1400 times
Rating of current essay:
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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