Relief From Unsecured Debt in Arizona
One of the most common questions people have is about the difference between secured and unsecured debt. Unsecured debt is debt that is not attached to a specific piece of property. In other words, if you do not pay that debt there is no property that the creditor can take away from you.
Examples of unsecured debt include:
At the Arizona Law Group of Trezza & Associates, we will start the process by helping you identify the type of debt that you are trying to eliminate. Contact us for a consultation with lawyer Stephen Trezza.
Unsecured Debt in Chapter 7 and Chapter 13 Bankruptcy
Chapter 7 bankruptcy makes short work of most types of unsecured debt. Some exceptions are tax debt and student loan debt, which are not as easy to get rid of as credit card debt and other unsecured debts.
In Chapter 13 bankruptcy, all unsecured debt is addressed in some way. You may pay back a portion of this debt depending on your disposable income and the value of your non-exempt assets. Once your plan is finished any remaining unsecured debt is discharged.
Contact Us to Learn More About Unsecured Debt
"What is unsecured debt in bankruptcy?" Our Tucson attorney can answer that question. Contact us to discuss your options.
