Posts Tagged ‘secured debts’

If you’re thinking about filing for Chapter 7 bankruptcy, the following information can help you learn more about the basics: How secured debts are handled If you have property, money, or assets that you’ve used as collateral in order to obtain a loan, that loan is a secured debt. Cars and houses are some common […]

Although there are different chapters of bankruptcy, Chapter 7 is the most common. It’s sometimes also referred to as a liquidation bankruptcy, which involves the sale of the filer’s non-exempt assets. A trustee handles this and takes any proceeds to pay lenders for any debts that the filer has accrued. If you’re thinking about filing […]