Collateral Creditor's Rights Loans Unsecured Debt 
Sawin & Shea
NOVEMBER 15, 2023
Declaring bankruptcy will discharge most types of debt but not others. Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. It distinguishes between what are called ‘secured’ and ‘unsecured’ debts, which are terms you need to know before filing for bankruptcy.
Jimerson Firm
JANUARY 27, 2021
If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in comprise allows borrowers to settle their debt on the SBA loan for less than the full amount owed. What is an Offer in Compromise?
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