one more question re: secured or unsecured?

[tunskit]

My friend and her husband have two loans with a finance company. These are the type where you initially receive a low amount (I think they started at $300), secured by two types of collateral, like a camera and a DVD player. Over time, they became customers in good standing, and their loan amounts inched upward. She now owes $2,000 (plus ridiculous interest fees), and he owes $3,000. Obviously, their original collateral isn't worth that much, but it was always put down as the items securing the loans with each increase/new contract. How does she record this? I know they are at least partially secured, so she should put it on Schedule D, but is it a fully secured or partially secured debt? Here is what the form looks like that she is using (I assume they are uniform, but just in case they vary by districts):

CREDITOR’S NAME AND
MAILING ADDRESS
INCLUDING ZIP CODE AND
AN ACCOUNT NUMBER

CODEBTOR
HUSBAND, WIFE,
JOINT, OR
COMMUNITY

DATE CLAIM WAS
INCURRED,
NATURE OF LIEN ,
AND
DESCRIPTION
AND VALUE OF
PROPERTY
SUBJECT TO LIEN

CONTINGENT

UNLIQUIDATED

DISPUTED

AMOUNT OF CLAIM
WITHOUT
DEDUCTING VALUE
OF COLLATERAL

UNSECURED
PORTION, IF
ANY


If part of it is unsecured, how does she calculate that portion? Thanks.

[justbroke]

When I had them, I put them on Schedule F as Unsecured. In many cases, these companies will file an unsecured claim anyhow.

[tunskit]

Thank you.