An unsecured debt, generally, is a debt that is not backed by collateral. For instance a car loan is secured by the security interest the lender has in the car. A credit card which is not backed by collateral is not secured by collateral therefore it is an unsecured debt. Generally, yes a creditor can sue for unsecured debt, the creditor just doesn't have any interest in the good that formed the basis of the loan.
Creditors make individual decisions concerning legal remedy (sometimes referred to as "remand and cure"). The amount owed though a contributing factor, is usually not the only one taken into...
First off...unsecured debt is clearly what the process is for as a secured debt creditor generally doesn't need to use garnishment for collection as they simply take the asset they have the debt...
Yes. A debt repayment program other than a chapter 13 bankruptcy, does not confer legally binding terms on creditors to prevent them from seeking litigation. AN exception obviously would be if the...
It's not simple but it is possible, assuming that there is substantiating evidence. Some of the reasons a creditor can be sued are, fraud, breach of contract, antitrust violations, bait and switch,...