Posted by Brent_IL on August 24, 2003 at 13:55:57:
That’s not the way secured liens work in bankruptcy, They are paid off in the order that they were recorded. The last guy of record loses if the money runs out.
anyone discounted a bankruptcy? - Posted by Rodney
Posted by Rodney on August 23, 2003 at 19:05:04:
I am looking at a property that has a total payoff for all creditors (7) of 55k. I was curious if i could make an offer less than the 55k to pay it off (say 45k?) to the bankruptcy trustee, if the bankruptcy judge would consider less than full amount? Anyone had any success doing this?