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11th June 2018
Published by
Insolvency & Liquidation
at
11th June 2018
Categories
Bankruptcy Terms and Definitions
Bankruptcy
Bankruptcy is a term used to describe a situation when a person or other legal entity like a limited company is unable to pay what they
[…]
11th June 2018
Published by
Insolvency & Liquidation
at
11th June 2018
Categories
Bankruptcy Terms and Definitions
Debtor
A debtor is a person or company that owes money to another person or company. A company is therefore owed money by its debtors and the
[…]
11th June 2018
Published by
Insolvency & Liquidation
at
11th June 2018
Categories
Bankruptcy Terms and Definitions
Unsecured Creditor
An unsecured creditor is a creditor that lends you money simply based on your promise to repay rather than requiring you to pledge collateral as security
[…]
11th June 2018
Published by
Insolvency & Liquidation
at
11th June 2018
Categories
Bankruptcy Terms and Definitions
Secured Debt
A secured debt is one which the lender has hard collateral pledge to guarantee the loan in case of default by the borrower. For example, a
[…]
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