Debtor is obligated to pay the secured party attorneys fees. In consideration of the indebtedness, debtor conveys and warrants to trustee certain property described in the land deed of trust.
Secured Debt Shall For A 6th Grader In Salt Lake
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Multi-State
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Salt Lake
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US-00181
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Examples of unsecured debt include credit cards, medical bills, utility bills, and other instances in which credit was given without any collateral requirement.
Secured debt is backed by collateral, such as a house in the case of a mortgage, reducing the lender's risk. Unsecured debt, like most credit card debt, does not have collateral and often carries higher interest rates.
Both secured and unsecured debt can be discharged in Chapter 13 bankruptcies, but non-dischargeable unsecured debts cannot be discharged in California.
Its expiration means that there are again two separate limits for chapter 13 cases. Now, to file a chapter 13 bankruptcy case, a debtor must have no more than $465,275 in unsecured debt, and no more than $1,395,875 in secured debt (again, counting only noncontingent, liquidated debt in each instance).
Types of debt that cannot be discharged in bankruptcy include alimony, child support, and certain unpaid taxes.