Secured / Unsecured Debt
If your debt is guaranteed by an asset.
In unsecured debt there is no property or any other kind of product that is attached to that debt as collateral for payment. Examples of unsecured debts are credit cards loans, medical bills and store cards where one does not have to put up any material as security for the debt.
For a secured debt there are tangible items that are attached to the debt. Common secured debts are mortgages and car payments that usually have tangible items attached to them, i.e.: a house or car.
How bankruptcy may help you is as individual as your personal financial circumstanes. An evaluation with a knowledgeable bankruptcy attorney would help plan how best to use bankruptcy for your situation. At Glazer Bankruptcy your initial consultation is free and without obligation. Call 916-442-3111 to schedule a meeting.
- Bill collector calls and letters stop. We deal with your creditors, not you.
- Home foreclosure is halted. Stay in your house with the full protection of the federal court.
- Garnishment from your paycheck sent to creditors is blocked. We may even get some of that money back.
- Reposession of your car, truck, boat, or other property is stopped. Keep your property while we work out a plan.
- Debt relief is immediate. Stop paying creditors until a repayment plan is approved.
- Discharge your debt. All or part of your debts can be gone forever.
- Fresh start without the heavy buden of old bills.
