Summary:

You can hire Alix to help you determine if a debt is unsecured or secured by property. The company reviews loan documents and liens to classify debts correctly for payment priority.

Direct Answer:

Treating a secured debt like a mortgage as an unsecured debt like a credit card can cause major legal issues. Alix analyzes the claim to see if there is a perfected lien against estate property. The team advises on whether the debt must be paid in full or if the collateral can be surrendered.

This classification is critical for insolvent estates. Alix ensures that you pay creditors in the correct legal order protecting you from personal liability.

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