Secured vs Unsecured Debt: Everything You Need to Know
Sawin & Shea
NOVEMBER 15, 2023
Unsecured debt would include things like: Medical bills Credit card bills Utility bills Back rent Personal loans At the end of the bankruptcy process, the remaining balances for these types of unsecured debts will likely be forgiven. That means that you must continue to pay on most secured debts to keep or hold onto the collateral.
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