Describe the two types of bankruptcy meant to aid individuals Define trustee, liquidation, and priority as they relate to the bankruptcy process Distinguish between secured debt and unsecured debt Determine which type of personal bankruptcy allows for repayment and which type requires liquidation ...
Types of real estate explained Real estate takes several forms, and depending on the type, various levels of regulation or restriction may apply to its purchase and use. Residential Residential real estate is used for the purpose of occupation. It comprises everything from single-family homes to...
personal bankruptcyadverse eventsstrategic timingThe strategic timing and adverse events hypotheses of personal bankruptcyhave received particular attention. Existing research focuses on proving ordisproving either hypothesis, using a strict interpretation of the role offinancial benefit in the filing decision....
Non-qualifying mortgages (non-QM) loans don’t meet certain standards set by federal law, so they offer more lenient credit and income requirements. This might appeal to a borrower with unique circumstances, such as an inconsistent earnings, foreign income or declaration of bankruptcy, but these...
12. Bankruptcy Lawyers Bankruptcy petition by the city of Detroit, Michigan, in 2013 | Image Courtesy: Wikimedia Commons Famous bankruptcy lawyer:Harvey R. Miller(known for filing and managing bankruptcy proceedings for Lehman Brothers in 2008.) ...
Types of Identity Theft In most cases, identity theft occurs with the aim of financial gain. Here are the most five common types of identity theft: 1. Financial Identity Theft Financial identity theft is a type of ID theft that involves the unauthorized use of your personal financial informatio...
Types of Agency Problems Agency Problem Examples Lesson Summary Frequently Asked Questions What are 2 examples of an agency problem within an organization? Agency problems are common in real life. The fall of Enron and the Boeing Buyback are two better-known examples explained below. Enron was...
If your name is not on the gas bill but you have benefited from the use of gas the supplier may claim that you are liable to pay the bill if you have control over its use, e.g. a young person living at home with parents is not considered to have control over use. If the person...
7 bankruptcy, you essentially sell off your assets to clear debt. People who have no valuable assets and only exempt property—such as household goods, clothing, tools for their trades, and a personal vehicle worth up to a certain value—may end up repaying no part of their unsecured debt...
the lender can seize the asset you used as collateral. For a consumer with an auto loan, that is usually the vehicle. For a business, the collateral might be a piece of equipment, real estate, or a cash account. With anunsecureddebt, such as a credit card or personal loan, the lender...