This is essentially a BK13 qualification question. The problem is that much of the assets of value are entirely under a loan security agreement and entirely not paid for. The loan is in default. If the secured property is reposessed, there frankly is little chance to maintain a revenue level...
My jurisdiction is: Alaska, USA
I have been unable to collect on a Money Note that was received as payment for a business. The Note is now over one year in default. The value of the business is now at risk and I must rescind the sale and recover the property to avoid further loss. The...