Does a secured debt ever become an unsecured debt?
A secured debt can become an unsecured debt if the underlying collateral is surrendered, such as in a foreclosure or a repossession. In foreclosures and repossessions, the collateral is often [...]
What is the difference between secured and unsecured debt?
The difference between secured and unsecured debt is simply whether or not there is collateral associated with that debt. An example of a secured debt would be your mortgage or car loan. [...]
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