All debt is not created equal. There are two major types of debt: secured and unsecured debt. Secured debts are backed by a tangible asset, like a house or car, while unsecured loans rely on the borrower’s credit score and ability to repay it back without consequence. If you are considering filing for bankruptcy, it is also important to understand the different types of debts that can be discharged.

A Chapter 7 Bankruptcy case allows you to discharge your debts while also keeping your personal and real property. Chapter 7 Bankruptcy has different requirements than a Chapter 13 bankruptcy. It's important to talk with an Alabama bankruptcy attorney before making a decision about which type suits you best. In this post, we'll discuss what Chapter 7 means in Alabama and how the bankruptcy lawyers at C. Taylor Crockett P.C. can help.