This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
However, if you file for bankruptcy, it can put a pause on debt collection, including actions by securedcreditors. In a Chapter 7 you will be given a choice to either allow securedcreditors to seize your collateral or continue to make payments until the debt is paid off. Examples of Unsecured Debts.
Unsecured debt would include things like: Medical bills Credit card bills Utility bills Back rent Personalloans 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.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
52 
Let's personalize your content