> With regular bankruptcy the loaner can take possession of the item you bought. If it's worth anything, which it may not be. I'd bet the average amount colle

> With regular bankruptcy the loaner can take possession of the item you bought. If it's worth anything, which it may not be. I'd bet the average amount collected on, say, SBA loans for small businesses is pennies on the dollar, at best. It will be interesting to see what happens with FHA/VA loans when those go massively underwater oh...about a year from now.