Remove Foreclosure Remove Repossession Remove Secured Creditor Remove Unsecured Debt
article thumbnail

Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

Declaring bankruptcy will discharge most types of debt but not others. Before you declare bankruptcy, it’s crucial to understand how the law treats the concept of secured vs unsecured debt. It matters because not all debts are equal in the eyes of the law. Secured vs Unsecured Debt: What’s the Difference?

article thumbnail

10 Common Questions About Bankruptcy

Debt Free Colorado

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. The following are some indications that you might be a good bankruptcy applicant: Are debt collectors following you around?