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New Mexico List of creditors holding 20 largest secured claims - Not needed for Chapter 7 or 13 - Form 4 - Post 2005

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This form is a list of creditors holding the 20 largest unsecured claims. The form lists the name of the creditor, the nature of the claim, and the amount of the claim. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.


Description: New Mexico List of Creditors Holding 20 Largest Secured Claims — Not Needed for Chapter 7 or 1— - Form 4 — Post 2005 The New Mexico List of Creditors Holding 20 Largest Secured Claims, also known as Form 4, is a crucial document in bankruptcy cases within New Mexico jurisdiction. This form provides detailed information regarding the 20 largest secured claims held by creditors against a debtor. It is important to note that this form is not required for Chapter 7 or Chapter 13 bankruptcy cases. Post-2005, there have been certain variations of the New Mexico List of Creditors Holding 20 Largest Secured Claims — Form 4. These variations primarily revolve around the format and specific requirements based on the changes made to bankruptcy regulations and laws. Some different types of the New Mexico List of Creditors Holding 20 Largest Secured Claims — Form — - Post 2005 may include: 1. Form 4 for Individual Debtors: This specific version of Form 4 is tailored for individual debtors who file for bankruptcy in New Mexico. It focuses on the 20 largest secured claims against the debtor, providing crucial details such as the name of the creditor, amount owed, type of collateral, and any co-debtors involved. 2. Form 4 for Business Debtors: This type of Form 4 is designed for business debtors who file for bankruptcy in New Mexico. It follows a similar structure to the individual debtor form, highlighting the 20 largest secured claims held against the business. The information provided includes the name of the creditor, amount owed, type of collateral, and any co-debtors involved. 3. Form 4 Amendment: In some cases, creditors or debtors may need to amend the initially filed Form 4. This amended version is used to update or correct any inaccuracies or missing information in the original form. The New Mexico List of Creditors Holding 20 Largest Secured Claims — Not Needed for Chapter 7 or 1— - Form 4 — Post 2005 plays a crucial role in bankruptcy proceedings. It ensures transparency by disclosing the most significant secured claims against a debtor, allowing for proper evaluation and negotiation during the bankruptcy process.

Description: New Mexico List of Creditors Holding 20 Largest Secured Claims — Not Needed for Chapter 7 or 1— - Form 4 — Post 2005 The New Mexico List of Creditors Holding 20 Largest Secured Claims, also known as Form 4, is a crucial document in bankruptcy cases within New Mexico jurisdiction. This form provides detailed information regarding the 20 largest secured claims held by creditors against a debtor. It is important to note that this form is not required for Chapter 7 or Chapter 13 bankruptcy cases. Post-2005, there have been certain variations of the New Mexico List of Creditors Holding 20 Largest Secured Claims — Form 4. These variations primarily revolve around the format and specific requirements based on the changes made to bankruptcy regulations and laws. Some different types of the New Mexico List of Creditors Holding 20 Largest Secured Claims — Form — - Post 2005 may include: 1. Form 4 for Individual Debtors: This specific version of Form 4 is tailored for individual debtors who file for bankruptcy in New Mexico. It focuses on the 20 largest secured claims against the debtor, providing crucial details such as the name of the creditor, amount owed, type of collateral, and any co-debtors involved. 2. Form 4 for Business Debtors: This type of Form 4 is designed for business debtors who file for bankruptcy in New Mexico. It follows a similar structure to the individual debtor form, highlighting the 20 largest secured claims held against the business. The information provided includes the name of the creditor, amount owed, type of collateral, and any co-debtors involved. 3. Form 4 Amendment: In some cases, creditors or debtors may need to amend the initially filed Form 4. This amended version is used to update or correct any inaccuracies or missing information in the original form. The New Mexico List of Creditors Holding 20 Largest Secured Claims — Not Needed for Chapter 7 or 1— - Form 4 — Post 2005 plays a crucial role in bankruptcy proceedings. It ensures transparency by disclosing the most significant secured claims against a debtor, allowing for proper evaluation and negotiation during the bankruptcy process.

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Absolute priority, also known as "liquidation preference," is a rule governing the order of payment among creditors and shareholders in the event of a corporate liquidation. The absolute priority rule is used in corporate bankruptcies to decide the portion of payment that will be made to each participant.

What is an Unsecured Claim? Unsecured claims are the opposite of secured claims: There is no property to seize, repossess, or foreclose upon. Examples of unsecured claims are child support debt, alimony debt, credit card debt, tax debts, and personal loans.

Examples of unsecured debts include credit cards, medical expenses, utility bills, most taxes, and personal loans.

General unsecured claims have the lowest priority of all claims. After the bankruptcy estate pays administrative expenses, priority unsecured claims, and secured claims, general unsecured creditors will receive a pro rata (equal percentage) distribution of the remaining funds.

A creditor with an unsecured claim has a promise to pay from the borrower but doesn't have a lien. There are two types of unsecured claims: Priority unsecured claims. These debts aren't dischargeable in bankruptcy, and, if money is available, the claim will get paid before nonpriority unsecured claims.

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.

An unsecured creditor is an individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because it will have nothing to fall back on should the borrower default on the loan.

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).

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New Mexico List of creditors holding 20 largest secured claims - Not needed for Chapter 7 or 13 - Form 4 - Post 2005