Posted on Feb 26, 2019

Affordable Bankruptcy Law Firm

What is the Difference between Secured & Unsecured Debt? | Tampa Bankruptcy Lawyer.

If you are making payments on property, the property may serve as security for repayment of the debt. If you default on your payments, the lender can repossess and obtain a deficiency judgment through the court for the difference of what you owe and what the property sold for. Debts secured by collateral are called Secured Debts.

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