The New York List of Creditors Holding 20 Largest Secured Claims is a document that provides a comprehensive overview of the top secured creditors involved in a bankruptcy case. This informative list is generally not required for cases filed under Chapter 7 or 13, and it follows the format of Form 4, which was implemented after 2005. The New York List of Creditors Holding 20 Largest Secured Claims serves as a crucial resource for all parties involved in a bankruptcy proceeding. It allows debtors, creditors, and bankruptcy trustees to gain insight into the major secured claims that exist against the debtor's property or assets. By identifying the creditors with the largest secured claims, this list sheds light on which parties have the most substantial financial interest in the bankruptcy case. This document is particularly valuable for debtors as it helps them prioritize their obligations and focus on addressing the claims of the top secured creditors. For the creditors themselves, the list offers a clear view of the creditors with whom they share a significant financial stake. This information enables them to actively participate in the bankruptcy proceedings, ensuring their interests are protected and their claims are properly considered during the distribution of assets. In terms of different types of the New York List of Creditors Holding 20 Largest Secured Claims — Not needed for Chapter 7 or 1— - Form 4 — Post 2005, there may be variations based on the specific bankruptcy case. However, some common categories of secured claims that frequently appear on these lists include: 1. Mortgage Lenders: These are entities that hold mortgages or liens on the debtor's real property, typically in relation to residential or commercial mortgages. 2. Auto and Vehicle Loan Providers: This category includes creditors who hold liens on the debtor's vehicles or other movable assets, such as boats or recreational vehicles. 3. Financial Institutions: Banks, credit unions, and other financial institutions that have provided loans or lines of credit secured by specific collateral. 4. Equipment and Machinery Lessors: Creditors who lease equipment or machinery to the debtor and hold a security interest in the leased assets. 5. Trade Creditors: Suppliers or vendors who extended credit to the debtor and have secured their claims by retaining a security interest in the goods delivered. 6. Construction Contractors and Suppliers: Creditors who performed construction or provided materials for construction projects may have secured claims against the debtor's property. It is important to note that while the New York List of Creditors Holding 20 Largest Secured Claims — Not needed for Chapter 7 or 1— - Form 4 — Post 2005 provides valuable insight into the major secured claims in a bankruptcy case, it may not encompass all secured creditors involved. Therefore, parties involved in the case should consult other relevant documents and sources to obtain a comprehensive understanding of the secured claims landscape.
New York List of creditors holding 20 largest secured claims - Not needed for Chapter 7 or 13 - Form 4 - Post 2005
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How to fill out New York List Of Creditors Holding 20 Largest Secured Claims - Not Needed For Chapter 7 Or 13 - Form 4 - Post 2005?
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What is a List of Creditors? When you file a voluntary petition under any bankruptcy chapter, you the debtor (or your attorney, if you use one) must prepare a List of Creditors and submit it to the Court. The List of Creditors is essentially a mailing list of creditors to whom you owe money.
Now, in most consumer cases, creditors don't attend the 341 meeting, even though it's called the meeting of creditors. In probably 95, if not 98% of cases, no creditors actually attend. It's only going to be the trustee that will be asked some questions to verify your financial situation.
Some of the most common types of unsecured creditors include credit card companies, utilities, landlords, hospitals and doctor's offices, and lenders that issue personal or student loans (though education loans carry a special exception that prevents them from being discharged).
A total of 226,777 chapter 13 consumer cases were closed by dismissal or plan completion in 2020. Table 6 illustrates that 116,145 of these cases were dismissed. In 49 percent of the cases closed (110,632 cases), the debtors received a discharge after completing repayment plans, up from 43 percent in 2019.
Among the top 30 unsecured creditors that Yellow owes are some of the industry's most recognized names. This includes railroads such as BNSF and Union Pacific, retail giants like Amazon and Home Depot, and leading equipment suppliers like Goodyear, Michelin, and DTNA (Daimler Trucks North America).
Some assets may have multiple liens placed upon them; in these cases, the first lien has priority over the second lien. Unsecured creditors are divided between preferred and non-preferred, as certain unclaimed creditors like employees and tax agencies are given priority.
Unsecured Creditors, like credit card issuers, suppliers, and some cash advance companies (although this is changing), do not hold a lien on its debtor's property to assure payment of the debt if there is a default. The secured creditor holds priority on debt collection from the property on which it holds a lien.
Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal ...