Secured Debt & Property in Chapter 7 Bankruptcy

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Chapter 7 bankruptcy provides several options for dealing with secured debts and the items of property that serve as collateral for those debts. If you don't take steps to keep the property, you may lose it during the bankruptcy.

To start, learn about secured debts -- what they are, your obligations for payment of those debts, and what happens to the property securing the debt in bankruptcy. Then read about your options for surrendering or keeping the property. The articles discuss the advantages and disadvantages of each option, when you can use them, and when it would be a good or bad idea to employ the various options.

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By clicking "Find a Lawyer", you agree to the Martindale-Nolo Texting Terms. Martindale-Nolo and up to 5 participating attorneys may contact you on the number you provided for marketing purposes, discuss available services, etc. Messages may be sent using pre-recorded messages, auto-dialer or other automated technology. You are not required to provide consent as a condition of service. Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary. Message and data rates may apply. Your number will be held in accordance with our Privacy Policy.

You should not send any sensitive or confidential information through this site. Any information sent through this site does not create an attorney-client relationship and may not be treated as privileged or confidential. The lawyer or law firm you are contacting is not required to, and may choose not to, accept you as a client. The Internet is not necessarily secure and emails sent through this site could be intercepted or read by third parties.

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