Picking debts and filing bankruptcy

March 11th, 2010 by Questions

is it possible to file bankruptcy on secured debt but still have unsecured debt?

Posted from: Alberta


One Response to “Picking debts and filing bankruptcy”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

When filing for bankruptcy you are not allowed to be selective in terms of the debts included. As well, the filing of a bankruptcy is designed to to deal with unsecured debts. The only way it can be used for secured debts is if you return the secured property to the lender prior to the filing of the bankruptcy.

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