When filing for bankruptcy, it is important to consider whether the debt you owe is a secured debt or an unsecured debt. The court’s ruling will depend on what specific type of debt you owe to your creditors. How does a secured debt differ from an unsecured debt? As the name suggests, a secured debt uses a form of security for the money owed. The security may be real estate property such as a home or a lot. The borrower signs a contract that agrees to surrender this property in case he fails to pay off his dues. Read full article on The Differences Between Secured Debt and Unsecured Debt