Bankruptcy

Scheduled Debts/Secured and Unsecured Creditors: Underwriting Guidelines

All property of the debtor should be considered unmarketable unless sold under court order or abandoned as part of the bankruptcy proceedings. In addition, some debts be they scheduled or unscheduled are secured debts (i.e., mortgages, car loans, etc.) while other debts are unsecured (i.e., signature loans or unsecured lines of credit). Whether a debt is secured or unsecured determines whether the entities who extended the credit or made the loans to the debtor are secured creditors or unsecured creditors.