Debt Consolidation Secured debt Unsecured Debt 
Titan Consulting
SEPTEMBER 2, 2020
Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. The main strategy in any debt consolidation strategy involves replacing one debt with another debt, usually with a lower interest rate or monthly payment.
Debt Guru
JULY 19, 2020
You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. Debt consolidation can be a great tool to get out of debt faster – but only when it’s used correctly. Don’t jeopardize your home.
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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.
Titan Consulting
AUGUST 23, 2020
Chapter 7 liquidates assets and discharges qualified debts. The process takes less than a year and can eliminate the balance on most unsecured debts. Protect secured debt (home and car) from default to avoid a repossession or foreclosure. Filers must pass a means test to qualify for a chapter 7 bankruptcy.
Debt Guru
JANUARY 27, 2021
A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. What types of debts can I lump together in a DMP? Secured debts, like your mortgage or car payments, aren’t covered.
Sawin & Shea
MAY 2, 2024
If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. Dischargeable debts are those that can be eliminated through bankruptcy.
Sawin & Shea
AUGUST 9, 2023
You aren’t allowed to pick and choose which debt you want the bankruptcy to apply to. 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.
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