Bankruptcy is an opportunity for a fresh financial start, so if you’ve taken out a secured loan you might be wondering what happens to that debt.
Secured debts are covered by personal bankruptcy, but you will lose the assets and securities that were used to back the loan. For this reason, it’s important to thoroughly consider the implications of bankruptcy and secured debt, as you could lose high-value assets such as your home.
In this article, the team at Irwin Insolvency explains everything you need to know about bankruptcy and secured debt.
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With over 25 years of experience, helping people just like you, we are committed to providing you with all the help and advice you need during these challenging times. Simply give us a call, drop us an email or fill in the form to find out how we can help you.
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