Bankruptcy Slides

Published on Dec 07, 2020

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PRESENTATION OUTLINE

Liens & Bankruptcy

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Bankruptcy

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Secured v. Unsecured Debt

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Unsecured Debts

  • Credit cards
  • Medical bills
  • Personal loans
  • Alimony or child support

Secured Debts

  • Secured by collateral
  • Creditor may recover collateral
  • Creditor has lien on property
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Secured Debts

  • Mortgages
  • Car loans
  • Unpaid real estate taxes
  • Other property liens

Types of Bankruptcy

  • Chapter 7 - individual (liquidation)
  • Chapter

Perfection

  • Notice w/in 8 days of work or delivery
  • File lien w/in 75 days of completion
  • Suit filed w/in 120 days of lien filing
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Addendums

Contingencies & Conditions

What We'll Cover

  • Elements of a contract
  • Contract problems
  • Contingencies & conditions
  • Drafting addendums
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