What about secured debts?
The secured creditors are those who have taken the least chance of investment in bankruptcy will be paid their dues first from the liquidating fund. Every person subject to the chapter 7 may automatically subject to the chapter 11 and it ensures the safeguarding of the interest of the debtor. Therefore it is important for the debtors to understand the Bankruptcy Chapter 7 completely and they should now what chapter 7 offers and what not. The trustee will be appointed immediately to dispose off the case according to the policy without harming the interest of the debtors on filing chapter 7.
