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. However, secured debt means the borrower has put up collateral (e.g. There are other options including credit counseling, creating a debt management plan, and taking out a debt consolidation loan.

Bankruptcy 52

Bankruptcy Credit Card Debt Collateral Lawyers 52

Sawin & Shea

MAY 2, 2024

When You Have Too Much Debt to Handle Sometimes debt can pile up to the point where making even minimum payments feels impossible with your current income. Credit card balances, personal loans, and other unsecured debts can quickly spiral out of control, especially when combined with secured debts like a car loan or mortgage.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Debt Free Colorado

DECEMBER 9, 2021

If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Credit Corp

MAY 3, 2023

It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. The Trustee’s office then pays various creditors.

Chapter 13 bankruptcy 97

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Creditors 97