Sawin & Shea

OCTOBER 26, 2022

In order to plan out your financial future, you need to understand the difference between secured and unsecured loans. Unsecured loans are loans that don’t have collateral. Common unsecured loans include: Bank loans with no collateral. The most common types of secured personal loans are vehicle loans and home mortgages.

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Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

Sawin & Shea

JANUARY 25, 2022

However, which type of bankruptcy you file will also depend on what kind of debt you have. Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral.

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Unsecured Debt Collateral Secured debt Bankruptcy 52

Sawin & Shea

APRIL 10, 2024

Reaffirming Debts in Chapter 7 Bankruptcy Chapter 7 bankruptcy allows you to discharge your unsecured accounts, but you cannot do away with a creditor’s a security interest, meaning a debt with collateral must either get paid or the collateral property surrendered. Retirement accounts are generally exempt.

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Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Collections Law

JULY 1, 2020

As experienced collections attorneys, rather than providing a multitude of services to our clients in many different areas of law, we prefer to focus on debt collection and construction litigation with an expanded coverage area, which has resulted in our incredible success in Massachusetts debt collection. At the Law Offices of Alan M.

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Mechanic’s Liens Debt Recovery Collections Judgment 52

The Creditors Rights

MAY 24, 2016

In Wells Fargo Bank, N.A. The value of the bank’s collateral exceeded the amount the bank was owed. The debtor’s plan, however, provided that the bank would not be entitled to any default interest on its claim, and treated the claim by modifying its terms and providing for payment amortized over 30 years.

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Debt RR

JANUARY 24, 2020

Secured debt: If a business receives a loan or other credit — like a credit card — because of specific assets or liquid collateral, they have secured debt. Though more uncommon than equipment leases and unsecured debt, some businesses are able to acquire secured credit options.

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Unsecured Debt Creditors Chapter 7 bankruptcy Secured debt 41

Debt RR

DECEMBER 13, 2019

Corporations have been increasingly defaulting on debt, with many businesses are struggling to maintain revenues and liquidity. Sometimes businesses aren’t prepared for market changes or a slump stretches longer than it should have, causing them to fall further into debt as bills pile up. Past-Due Secured Debt.

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Chapter 7 bankruptcy Bankruptcy Creditors Retail 43