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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2900
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I am filing bankruptcy, I need clarification on the law. I

Resolved Question:

I am filing bankruptcy, I need clarification on the law. I have a home, six months behind. I have two loans. I was told that if i file bankruptcy , I can wipeout the second loan as an unsecured loan, but I am not sure if I need to file Chapter 7 or Chapter 13.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 8 years ago.
If there is no equity for the loan to attach to, you can strip it off as wholly unsecured in a chapter 13. They will be allowed an unsecured claim.
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