Secured Debts And Bankruptcy
Call: 888-297-6203 Secured debts and bankruptcy have a very deep relation with each other. The most powerful aspect of bankruptcy linked to secured debts is the automatic stay. This does not allow any lender to foreclose or repossess any collateral or asset unless and until directed by the bankruptcy court. This collateral or asset in question could be a car or a house pledging which a debtor might have secured debt. However, an automatic stay does not mean the debtor can get a chance to keep the asset without making any payments. To know more about bankruptcy terms [...]