Understanding the Difference Between Secured, Unsecured, Priority, and Nonpriority Claims

When you file for bankruptcy, you must disclose your debts. In the bankruptcy paperwork, debts are referred to as “creditor claims,” and you must sort them into categories. Your claim first need to be sorted into secured and unsecured, then the unsecured claims should be divided into priority and nonpriority.  Do you know how to […]

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