Secured vs Unsecured debt in bankruptchy

         

Secured debt is collateralized (secured) by property. A lender that owns the secured debt has the right to repossess or foreclose on the property.

What is unsecured debt?

An unsecured debt is when you agree to pay a creditor for a loan that was taken out by you, but you have not pledged any property as collateral for the debt.

How can I tell if a loan is secured by an asset?

Florida Secured Transaction Registry  https://www.floridaucc.com/uccweb/

What is an administrative debt?

An administrative debt is a priority debt. Generally, it’s for goods or services to your bankruptcy estate after you file your petition. An example of an administrative debt is the fee charged by an attorney or other authorized professional for services rendered after the bankruptcy case was filed.