What is Secured Debt in Bankruptcy?
- March 31, 2024
- Thomas Adam
- Bankruptcy
The decision to file bankruptcy is one of the most important choices you can make in your life. Bankruptcy can be extremely helpful and may help you get out of a serious financial problem. However, you should understand how debt is taken care of with bankruptcy to ensure that you will benefit from it. When you file Chapter 7 bankruptcy, you will need to liquidate your assets in order to repay most or all of your debt and start anew. There are two types of debt you need to be aware of - secured d[...]