Assertion: bankruptcy's creditor | /r/CapableOf | repossess the property
Facets:
Source sentences:
text: If you owe money on a secured debt, such as a mortgage or car loan, you’ll have a choice of allowing the creditor to repossess the property (and discharge the debt) or, if you’re current on your payments, keeping the property and continuing to make your payments under the contract.
text: The creditor can still repossess property that has a lien against it, even if some portion of the debt has been discharged -- secured debt can't ever be fully discharged.
text: In a Chapter 7 bankruptcy proceeding, you (the debtor) have to make a choice between allowing the creditor to repossess the property that secures the debt, continuing to make payments on your debt to the creditor, or paying the creditor a sum equal to the replacement value of the property that secures the debt.
text: Secured debt is excluded from bankruptcies because the creditor can repossess the property if you don’t pay, and sell it to get their money back.