What Happens to My Personal Loan After Bankruptcy?
Sawin & Shea
OCTOBER 26, 2022
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. Repossession deficiency claims. Unlike unsecured personal loans, secured loans involve some form of collateral that the lender can repossess if the borrower fails to make payments. Unsecured loans are loans that don’t have collateral.
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