One of my debts is a $5,000 unsecured installment loan through Beneficial (with an arbitration rider, whatever that means). Are unsecured installment loans treated the same way as credit card debt when filing ?
Thanks
Thanks
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Are you very sure it's unsecured?? Very often loans like that, the lender will list household good as security for the note.
Get your paperwork out and read thru it very carefully. We had one like that I found in our Credit Report. We took a short term personal loan years ago and paid it off. Now I find out that when we took that note, the bank did list various household items as collateral for the loan.
So check your paperwork carefully first. If it is indeed unsecured, it should be treated like CC debt.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...
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