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Bankruptcy

: The Debt Podcast

Secured, Priority and Unsecured Claims ? what?s the difference?

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Your bankruptcy lawyer will ask you to identify your creditors. ?Not all creditors are created equally. There are three types of creditors in bankruptcy: Secured creditors Priority creditors Unsecured creditors Secured creditors are those who have a lien or security interest in collateral. ?Examples of this include: Mortgage lenders Automobile finance companies Certain furniture dealers Certain jewelry dealers Car title lenders Priority creditors get paid first [...]

Full post as published by The Debt Podcast on January 22, 2010 (boomark / email).

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