Sawin & Shea

NOVEMBER 15, 2023

In broad terms, if a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay. That means that you must continue to pay on most secured debts to keep or hold onto the collateral. Unsecured Debt What is unsecured debt?

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Sawin & Shea

MARCH 13, 2024

Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. All of the original terms of the loan are back in force, including the creditor’s right to repossess the collateral if you get behind on payments in the future.

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Debt Free Colorado

DECEMBER 9, 2021

Short foreclosure protection – When your home is faced with foreclosure, the automatic stay is not in effect indefinitely. Co-signing a loan carries a risk – Anyone who co-signs a loan may be obligated to repay the debt on your behalf. The lender protects the borrower against foreclosure. medical debt .

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Debt Free Colorado

OCTOBER 12, 2023

Detailed information about your property, collateralized debt, other debts, contracts, codebtors, income, expenses, and financial affairs must be provided accurately in the relevant sections of the bankruptcy form. watercraft, aircraft, personal property (including furniture, electronics, clothing, etc.),

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Debt Guru

JULY 19, 2020

Remember that there is unsecured debt (like your credit card balances) and secured debt (such as your mortgage and auto loan). The difference is that unsecured debts are not backed by collateral. Instead, consider a personal loan (that is unsecured and doesn’t require collateral to get approval) to consolidate your debt.

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Sawin & Shea

JUNE 7, 2023

Obtaining Personal Loans with a Cosigner Having a co-signer on a personal loan or credit card means that you associate another individual with your debt. A guarantor is typically someone who agrees to pay back a loan in the event that the borrower defaults on their payments.

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Titan Consulting

SEPTEMBER 2, 2020

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. Personal Loan s are an option if you have excellent credit and high enough income to qualify for additional debt. Key Takeaways. Debt consolidation may not save you much money.

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