Collateral Garnishment Secured Creditor Student Loans 
Sawin & Shea
JANUARY 25, 2022
Secured and unsecured debt is handled differently in Chapter 7 vs. Chapter 13. What is Secured Debt? Secured debts are a type of debt backed by an asset that is used as collateral. However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors.
Debt Free Colorado
MARCH 3, 2023
The main disadvantage of Chapter 7 bankruptcy is that anything subject to a security interest is not exempt (home, automobile) and can be seized to satisfy the debt connected to the specific item. Chapter 13 bankruptcy Individuals who get a regular wage but are unable to pay off the bills are eligible for Chapter 13 bankruptcy.
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