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What Debts Can Bankruptcy Eliminate: Examples of Unsecured Debt

Debt Free Colorado

Unsecured debt is money you owe not tied to any specific asset. This means the lender can take no property, like a house or car if you do not pay. Instead, lenders rely on your promise to pay back the money. Chapter 7 bankruptcy remains on credit reports for 10 years. What is Unsecured Debt?