What happens to my secured debt?
Once you filed for bankruptcy, an automatic stay (stop) is placed on further collection activity by your creditors. However, creditors can petition to court to lift a stay for special circumstances, such as if the creditor has a secured lien on the debtor's property, e.g., a vehicle or house. Creditors may be given the right to enforce valid liens, such as mortgages and security interests in automobiles, which means that the creditor can take back the secured property if you do not reaffirm and redeem the debt, or if the lien is not avoided.
