What's the Difference between Secured and v Unsecured Debt?

Colorado Springs Bankruptcy Attorney Bob Doig explains the difference between secured debt and unsecured debt. If the debt is secured, the borrower can lose property, called the collateral, if the debt is not repaid. The most common types of secured debt are mortgages on houses and car loans. If the borrower fails to pay the secured debt, the lender can take the collateal to satisfy the obligation.

Bob Doig

Robert J. Doig
Attorney at Law
2985 Broadmoor Valley Road
Suite 4
Colorado Springs, CO 80906

719 227-8787 Office
719 325-8355 Fax

Bob@SpringsBankruptcy.com
http://www.SpringsBankruptcyLaw.com

My office is a federally designated debt relief agency. I help people file for relief under the Bankruptcy Code.

This video is for general educational information only. Bankruptcy Law is really complicated. There are exceptions to just about every rule. Heck, there are even exceptions to the exceptions. So, please don't consider the information on this video to be legal advice.

Category:

Education

Tags:

• Colorado Springs
• bankruptcy
• attorney
• chapter 7
• chapter 13
• secured debt
• unsecured debt
• Bob Doig