Posted on Sep 22, 2020
Zooberg Law Firm, P.A.
There are two types of debts; secured and unsecured debt. Secured debt is a type of debt that is backed by collateral such as the debtor’s car or mortgages and so on. If a debtor defaults on their secured loan, the you collateral is collected by a lender. Fortunately, most secured loans are dischargeable if there was no misrepresentation or fraud involved in obtaining them.