Personal loans and Secured Creditor - Creditor Collections Today

What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

JANUARY 25, 2022

However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors. In a Chapter 7 you will be given a choice to either allow secured creditors to seize your collateral or continue to make payments until the debt is paid off. Examples of Unsecured Debts.

Unsecured Debt

Unsecured Debt Collateral Secured debt Bankruptcy

Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

NOVEMBER 15, 2023

Unsecured debt would include things like: Medical bills Credit card bills Utility bills Back rent Personal loans At the end of the bankruptcy process, the remaining balances for these types of unsecured debts will likely be forgiven. That means that you must continue to pay on most secured debts to keep or hold onto the collateral.

Unsecured Debt

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy

Creditor Collections Today

What is the Difference Between Secured and Unsecured Debt?

Secured vs Unsecured Debt: Everything You Need to Know

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