Collateral Personal loans Secured Creditor Secured debt 
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. Unsecured Debt What is unsecured debt? The two most common examples of secured debt are mortgages and auto loans.
Sawin & Shea
JANUARY 25, 2022
However, which type of bankruptcy you file will also depend on what kind of debt you have. 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.
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