Chapter 7 and Chapter 13 Bankruptcy Attorney Group Photo
Message sent.



  What is the Difference Between Secured and Unsecured Debt?


  Secured debt is a claim that's secured by some type of property, either by an agreement or involuntarily with a court judgment or taxes. Creditors can generally claim the property that secures the debt in the event of bankruptcy. Unsecured debt is not tied to any type of property, and the creditor doesn't have a claim to their property. A mortgage is a secured debt on your property.