Secured debts - In bankruptcy, a debt is secured if the debtor gave the creditor a right to repossess the property or goods used as collateral.
Securities an Exchange Commission (SEC) - A federal agency which monitors the securities industry.
Unsecured debts - In bankruptcy, debts such as open accounts at department stores for which the debtor has not pledged collateral to guarantee payment.
Accordingly, Congress created a Chapter 13 filing that permits such a debtor with unsecured debts of less than $269,250 and secured debts of less than $807,750 to voluntarily file a plan that provides for the submission of earnings to a trustee, ...
The most common petition is, in which a trustee is appointed by the court, the current assets are counted up by the trustee (with many of them exempt from bankruptcy), who pays debts to the extent possible with priority for taxes, then secured debts ...
Losing the Automatic Stay: Missing Deadlines for Handling Secured Debts
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Chapter 13 Bankruptcy and Business Tax Debts ...
 See also: Collateral, Trustee, Statute, Collate, Time
  
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