When a debtor in bankruptcy provides some type of collateral to protect a claim holder from depreciation, pending the formulation of a repayment plan. Pending that plan, the debtor has continued possession or use of the collateral.
When a debtor in bankruptcy provides some type of collateral to protect a claim holder from depreciation, pending the formulation of a repayment plan. Pending that plan, the debtor has continued possession or use of the collateral.
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.