Скачать или смотреть Bankruptcy Basics: What Is Secured Debt? | Understanding Collateral & Your Options

Bankruptcy Basics: What Is Secured Debt? | Understanding Collateral & Your Options

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Описание к видео Bankruptcy Basics: What Is Secured Debt? | Understanding Collateral & Your Options

What is secured debt and why does it matter in bankruptcy?

In this video, we break it down in plain English.

A secured debt is a loan backed by property, like your home or your car. If you fall behind on payments, the lender can take that property back. But bankruptcy may give you options to protect it, through reaffirming, catching up payments in Chapter 13, or even surrendering the property to move forward debt-free.

Understanding which of your debts are secured (and which aren’t) is a key step toward making informed, confident financial decisions.

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