Texas Unsecured Creditors

Although Texas secured creditors often have an advantage to unsecured creditors when in comes to collection cases, unsecured creditors equally need to have representation with debtors, particularly when there are personal guarantees and/or no secured creditors.

Unsecured creditors, once the customer becomes distressed, may wish to create security interests and/or plan for a bankruptcy or insolvency of a debtor. When a security interest is not available, creditors may choose from other options to ensure payment. Such options often include:

• Work out agreements
• Promissory notes
• Forebearance agreements
• Personal Guaranty Agreements;
• Corporate Guaranty Agreements; and
• Litigation.

If you have a legal issue related to your status as an unsecured creditor, please contact Marc Lippincott for an appointment to discuss.