Secured vs. Unsecured Debts in a Chapter 7 Bankruptcy Case

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What is the difference between secured debts and unsecured debts? A secured debt has property attached to it as the lender’s collateral, like a home loan or a car loan. An unsecured debt does not.  The court treats secured and unsecured debt quite differently in Chapter 7 bankruptcy cases. Most clients can keep all of their property while discharging their debts. 

For more information about the Chapter 7 bankruptcy process, contact DeMarb Brophy LLC. Our legal counsel has been widely recognized for our ability to secure results for clients.  

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