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Unsecured Debt

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Unsecured Debt stories:

UPDATE 5-CIT moves closer to pre-packaged bankruptcy approval
Oct 30th, 2009 - Reuters
* Holders of 90 pct of unsecured debt ok prepack bankruptcy * Results still being tabulated * Company expected to win necessary support for prepack * Icahn to provide...
CIT Group Amends $29 Billion Debt Exchange to Avoid Collapse
Oct 17th, 2009 - Bloomberg
Oct. 17 (Bloomberg) -- CIT Group Inc., the 101-year-oldcommercial lender seeking to avoid collapse, changed the termsof its $29 billion debt exchange to increase support among itsbondholders.
CIT eyes debt exchange or prepack bankruptcy-sources
Sep 30th, 2009 - Reuters
* Plans exchange offer for $32 bln unsecured debt-sources * Eyes pre-packaged bankruptcy if not successful-sources * Board yet to approve plan but regularly briefed-sources * Shares down 88 cents to $1.32...
GM bondholders OK sweetened deal
May 28th, 2009 - MSNBC
General Motors Corp. said Thursday a committee of bondholders has agreed to a sweetened deal proposed by the U.S. government to erase the automaker’s unsecured debt in exchange for company stock.
GM, Bondholders Reach Deal On Debt
May 28th, 2009 - The Huffington Post
DETROIT — General Motors Corp. said Thursday a committee of bondholders has agreed to a sweetened deal to erase the automaker's unsecured debt in exchange for company stock.

Unsecured Debt videos from YouTube:

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Unsecured Debt Consolidation
www.DebtHelpMadeEasy.com Learn about unsecured debt consolidation. This video covers the basics on unsecured debt consolidation. Learn about unsecured debt consolidation today!
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Debt Management: Credit Boot-Camp™ The Truth About Unsecured Debt
This is one of Debt Warriors Credit Boot-camp Video Series. We never expected that the sub-prime credit crisis would make this video timeless, but t credit repair and winning your war on debt.
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help with unsecured debt settle credit card debt counseling
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Bad Credit Debt Consolidation
www.debtplan.org Bad Credit Debt Consolidation, Consumer Credit Counseling, Debt settlement, Debt Negotiation, and Bankruptcy are subjects which will be discussed in A LIFE OUT OF DEBT. Please do not become discouraged or negative ...

Unsecured Debt from WikiPedia:

In finance, unsecured debt refers to any type of debt or general obligation that is not collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation.

In the event of the bankruptcy of the borrower, the unsecured creditors will have a general claim on the assets of the borrower after the specific pledged assets have been assigned to the secured creditors, although the unsecured creditors will usually realize a smaller proportion of their claims than the secured creditors.

In some legal systems, unsecured creditors who are also indebted to the insolvent debtor are able (and in some jurisdictions, required) to set-off the debts, which actually puts the unsecured creditor with a matured liability to the debtor in a pre-preferential position.