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What is unsecured debt?
Any debt that does not have collateral property attached to it, (credit cards, personal loans, pay day loans, etc.).
Secured debts are real property (homes, business, vehicles, goods purchased on...
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Can unsecured debt be contested by an estate?
The executor of the estate can contest the debt. One of the things they must do is validate that all debts are accounted for and valid. Only then can they determine how to distribute what is left.
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Can a creditor sue for unsecured debt?
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...
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For how long can an unsecured debt be pursued?
until the company writes the debt off or the person owiing the debt dies
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What happens if you get sued for a debt and lose?
You get a judgment filed against you by the court, and it is recorded in public records. It can affect your credit, your ability to purchase real estate, and in some instances keep you from getting a...