Sawin & Shea

AUGUST 9, 2023

Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. Creditors cannot reclaim any of your property if you default on a loan. However, secured debt means the borrower has put up collateral (e.g. Do I Need a Lawyer to File for Bankruptcy?

Bankruptcy 52

Bankruptcy Credit Card Debt Collateral Lawyers 52

Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Creditors are prohibited from contacting you after your petition is filed.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Titan Consulting

AUGUST 23, 2020

In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? The Bankruptcy Option.

Chapter 13 bankruptcy 86

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86