Assertion: bankruptcy's property | /r/ObjectUse | used as collateral
Facets:
value: for a secured debt
type: PURPOSE
Source sentences:
text: In order to keep property used as collateral for a secured debt, you have the option of paying the creditor the total amount of its secured claim (minus any exemptions), redeeming the property by paying its actual value, or reaffirming the debt and continuing to make payments.
text: ’s right to seize your property that has been used as collateral.
text: If you want to keep property used as collateral for a secured debt, you have options like paying the creditor the full remaining loan balance, redeeming the property by paying the creditor the actual value of the property (subject to court approval), or reaffirming the debt and continuing to make timely payments (also subject to court approval).
text: If you are willing to lose the property used as collateral for a secured debt, the creditor will seize the property.