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"They just never asked him how many other cards he had or what his unsecured debt was."
But credit card companies stand at the end of the line with unsecured debt.
Much of the unsecured debt was owed in back salary.
The unsecured debts total £20m and creditors face receiving nothing.
Other creditors hold $490 million in unsecured debt, although many more claims are expected to be filed.
Eastern has an estimated $980 million in unsecured debt.
This can mean unused lines of credit and Unsecured debt facilities dry up.
Interest payments on unsecured debt were suspended in October.
It defaulted on commercial paper, the unsecured debt that companies use to cover daily expenses.
This means that these debts will be paid before other unsecured debts.
Labour's changes to the bankruptcy laws have made it much more difficult to recover the remaining unsecured debt.
The average person in debt has to work until 4pm on Wednesday each week to repay just their unsecured debts.
The news story reported that the unsecured debt holders would receive a 45% equity stake.
The unsecured debt has been criticized as a "junk financing" by some analysts here.
An additional $210 million in unsecured debt will be repaid to bondholders.
Chapter 7 permits consumers and businesses to shed most of their unsecured debts.
"Pull this all together with the other unsecured debt people have, and this is really problematic."
It's an unsecured debt to an unreliable person and so of course it's very expensive.
Right now, a Chapter 7 bankruptcy can eliminate unsecured debts like medical bills and credit cards.
The spending plan puts the member's needs ahead of the creditors and should not cause one to incur unsecured debt.
The remaining $6 billion is unsecured debt.
The more popular, Chapter 7, lets people discharge unsecured debts, such as medical bills and credit card debt.
A Chapter 13 plan often does not require repayment to general unsecured debts, such as credit cards or medical bills.
The bankruptcy filing buoyed Texaco's results because it paid no interest on its unsecured debt.
Normally, only unsecured debts not secured by real assets like homes or autos can be settled.