Use 'collective bargaining' in a Sentence Thanks to the collective bargaining within the company, we can now receive discounts on our medical coverage and pay for sick days. 25 people found this helpful Due to the process of collective bargaining, the productivity of our factory has increased by a substantial margin since the beginning of the contract. 14 people found this helpful Much of modern labor would be changed for the worse if history hadn't had people organize their labor through collective bargaining.
Unsecured Debt. In contrast, unsecured debt is debt that is not secured by collateral, such as credit card debt, medical bills, or lawsuit judgments against you. Unsecured creditors cannot take any property to satisfy their debts.
In Chapter 7 bankruptcy, nonpriority unsecured creditors are the last to get paid if there are any nonexempt assets to distribute. In Chapter 13 bankruptcy, the amount you pay general unsecured creditors depends on your nonexempt assets and disposable income. But they usually only receive pennies on the dollar.