(finance/bankruptcy)
(BankrupTcy) There are two kinds of loans, (BankrupTcy) secured loans which are provided on the basis of security and collateral and unsecured that which has no concept of security and collateral.(BankrupTcy) People who have taken unsecured debt has not been able to pay their credit bills because of negative economic conditions and some of them have not even paid because they think that they can get rid of the loan amount without paying a penny. When this happened creditor started worrying about the money they have lent. They tried to contact debtors and ask for the money but debtors started hiding from them and ignoring them.
