What is an unsecured debt?
The most serious debts you owe are those which are backed by collateral, or secured against default. This includes mortgages, car loans, and any other debts which are backed by real property. Any other debt you owe is considered unsecured, and you cannot be forced to surrender property or wages on such debts unless your creditors obtain a court judgment against you. Credit cards, personal loans, and department store debt are all examples of unsecured debt.
If you have questions about your debt and how bankruptcy court can work for you, call the experienced bankruptcy attorneys at the Law Office of Russel Van Beustring, P.C. today at 713-973-6650 for a free consultation.