bankruptcy
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Title: bankruptcy

Essay Details:

Subject: Miscellaneous
Author:
Date: June 17, 2014
Level: University
Grade: A
Length: 2 / 461

Essay text:

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. 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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