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.
Chapter 13 Bankruptcy. In Chapter 13 bankruptcy, you pay a portion of your debts through a repayment plan over a three to five year period. The credit card lawsuit is stopped by the automatic stay and the debt is treated the same as your other unsecured debts such as other credit card debt and medical bills.hen you file bankruptcy the automatic stay prohibits most creditors from trying to collect debts from you. This includes any ongoing credit card lawsuits. The automatic stay stops the lawsuit until your bankruptcy is completed, dismissed, or the court lifts the stay.