What Is Unsecured Debt In Bankruptcy?

Unsecured debt has no collateral attached to it, which means that the creditor or lender cannot repossess or foreclose on any property associated with the debt. However, failure to make payments on unsecured debt can result in enforcement action like wage garnishment and lawsuits.

Let us help you erase your debts. Call 888-813-4737 today. Hablamos español.

At Nowack & Olson, our attorneys have dedicated their careers to assisting people overwhelmed by debt. From our office locations in Fort Lauderdale, Miami, Boca Raton and Jupiter, we have helped thousands of people all over South Florida eliminate unsecured debt so they can focus on the future.

  • Medical debt — Excessive medical expenses are a sad fact of life for many Americans. If you are struggling to cover the bills associated with an illness, injury or other medical expense, bankruptcy can be a useful tool in eliminating that debt.
  • Credit card debtCredit cards can be a useful financial tool, but sometimes their use gets out of hand. With a few exceptions (such as store credit cards, which create a security interest for the property purchased), credit card debt is unsecured, which makes it fairly easy to discharge in bankruptcy.
  • Personal loans and student loans — Private loans from banks and other lenders can be useful for planned expenses, but can result in serious debt. Our lawyers can help you discharge this debt when possible and develop sustainable strategies for repaying any remaining debts.

Let's Talk About Your Options ~ Call Today For A Free Consultation

We offer a comprehensive, 60-minute free initial consultation so you can understand your rights and options in the face of unsecured debt. To learn more, please contact us online or call today at 888-813-4737.