Remove Chapter 13 bankruptcy Remove Foreclosure Remove Repossession Remove Secured Creditor
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10 Common Questions About Bankruptcy

Debt Free Colorado

Do Bankruptcies Come in Different Types? There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. However, Chapter 7 and Chapter 13 bankruptcy are the two types of bankruptcy that are most frequently filed.

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Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

That means that you must continue to pay on most secured debts to keep or hold onto the collateral. This is accomplished by entering into a reaffirmation agreement in a Chapter 7. This is a voluntary agreement between a secured creditor and the debtor that re-obligates the debtor on the secured debt.