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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

Before choosing your first personal loan, you need to understand the difference between secured and unsecured loans. Unsecured loans don’t have collateral. If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. However, it is difficult to qualify that soon.

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

The reason why creditors prefer you file Chapter 13 is because Chapter 7 bankruptcy discharges unsecured debts after the trustee liquidates nonexempt assets. This means that unsecured creditors, such as credit card companies, won’t receive what the debtor owes.

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An In-Depth Guide to Bank Account Garnishment in Texas and How to Avoid It

Debt RR

Common reasons for bank account garnishment in Texas include: Private creditors: These are banks, credit unions, credit card companies, peer-to-peer lenders, hard money loan providers, and other financial institutions. This debt can include anything from credit cards to past due balances on office space.

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What is Debt Consolidation and How Does it Work?

Better Credit Blog

You can combine credit card debt, car finance, personal loans, student loans, medical bills, payday loans, and other types of unsecured debt. But is debt consolidation a good idea for you? Some credit cards and loans have one-off set-up charges or origination fees to consider, too. Risk to loan guarantees.