Bankrupt Law Practice Area- Bankruptcy Law 17. We suggest that you schedule a free consultation with the Law Offices of Nicholas S. Nassif. We will answer all of your questions in detail. Think of your debts as secured and unsecured.
Secured debts are debts that are secured by real or personal property.
A common example of a secured debt is a vehicle loan. The vehicle is securing the debt. If you breach the payment terms of your installment agreement, the creditor has the right to repossess the vehicle. Another common example is your residence. The residence is securing the debt.