What is the so-called Deep State? Here's what you need to know about an obscure term making the rounds in the White House President Trump's Allies Keep Talking About the 'Deep State.'
The investors who take the least risk are paid first. For example, secured creditors take less risk because the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They know they will get paid first if the company declares bankruptcy. Secured Creditors-often a bank, is paid first. 2  Unsecured Creditors-such as banks, suppliers, and bondholders, have the next claim. 3  Stockholders-owners of the company, have the last claim on assets and may not receive anything if the Secured and Unsecured Creditors' claims are not fully repaid.
If you file for chapter 7 bankruptcy, you wonât have any repayment plan with creditors. You qualify for chapter 7 bankruptcy if you can prove that after deducting reasonable expenses, you cannot afford to pay the creditors back.owever, if your motorcycle is a vehicle that you use every day, for example, in order to get to and from work, then it is a reasonable and necessary expense. You will probably want to keep your motorcycle in this case. The same circumstances apply if you are filing for chapter 13 bankruptcy.