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Main difference being the debt you walked away from was for property that the lender presumably got back.
by tehwebguy 10y ago
Main difference being the debt you walked away from was for property that the lender presumably got back.
- toomuchtodo 10y agoMy experience says otherwise (without going into detail). Consumer protections against creditors/debt collectors in the US are stronger than in the UK.
- nkohari 10y agoI think what they're saying is that the bank exercised their lien and claimed the mortgaged property, whereas card debt is unsecured and there's no collateral to claim.
- toomuchtodo 10y agoYes. I understand that.