Posts Tagged ‘Simple Answer’

What Happens to Secured Debt in Bankruptcy?

Monday, July 13th, 2009

Before filing for bankruptcy you should know exactly what constitutes secured and unsecured debt, and whether both be discharged by filing for Chapter 13 or Chapter 7 bankruptcy protection? The simple answer is yes to both, but in the case of secured debts the answer becomes more convoluted. Consulting with an experienced bankruptcy attorney who can explain how bankruptcy affects your secured debt is vital before making any decisions about you financial future.

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