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Last Updated on : October 17,2023

Consumers wishing to lend through financial institutions are evaluated on creditworthiness, regardless of a loan amount. History with creditors, ability to pay back within set time limits and amount of debt owed are not the only things a lender may be interested in. Assets as collateral and high-interest rates are what’s on the line when dealing with a crediting agency.

Secured Debt

Secured debt is the most common type of financing a consumer can obtain. Typically, banks assume less risk as terms and conditions require an asset held as collateral. The purchase of a vehicle through a loan is an example of Secured Debt. The bank will require proof of insurance coverage, so that they may recoup what’s owed on the car, or pay off the loan, in any case, it’s involved in an accident. Interest rates on secured loans are often lower, as a result. The lender will obtain property if the promise to pay the loan in full is not met.

Unsecured Debt

Unsecured Debt is no promise-to-pay with a car or house in the hands of a bank if repayment is not fulfilled. For this reason, creditors take a closer look at creditworthiness and charge higher interest rates. The risk of lending a consumer money with no lien or asset is greater and may incur legal action, money, and more time for the creditor to obtain money owed. Requesting a personal loan, with no asset attached is an example of unsecured debt.

Before delving into the specifics of unsecured debt, it’s essential to understand the broader legal landscape surrounding it. For instance, the intricacies of cross-examination can play a pivotal role in cases involving debt disputes. Additionally, in today’s digital age, the use of social media can have implications on claims related to unsecured debts. For those seeking comprehensive legal advice or curious about various case results, it’s beneficial to be informed. Moreover, understanding rights, such as those related to work injuries, can also be crucial when navigating the complexities of financial obligations.

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In 2003, after being dissatisfied with the quality of legal care for victims of car accidents, Roderick ‘Rico’ Alvendia sought to establish a new firm focused on providing high-quality legal services to aid injured victims and their families. J. Bart Kelly, sharing Rico’s passion for upholding justice, joined the firm later that year, and established a partnership.

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  • They helped me with every need possible. The back issues I had could have been much worse if they didn’t step in and help me. Bart, Megan, and all the people that work for this legal team are amazing. I would recommend them to anyone. Thank you all for helping me each step of the way. I can’t thank these people enough.

    - T. Gibson-Warren

  • I want to thank the whole team for all your help and persistence with my settlement. I truly appreciate.

    - A. Alfortish

  • Great experiences every time I need you guys. I always recommend your firm.

    - W. Young

  • Bart and his team were wonderful to work with. It was clear that their vision and determination to fight for our case, is why we were able to reach a settlement, where my previous attorney was not.

    - C. Perez

  • Bart Kelly and his legal team reevaluated my case after another attorney backed away from a legal challenge, I just want to say Thank You to mr kelly and his team for the hard work and dedication to my case to make it successful . Thank You

    - N. Gex

  • Attorney Kelly is an impeccable attorney. He has represented me extremely well. I was very, very, very pleased with the outcome of my settlement. He’s highly recommended … to give assistance to anyone. I thank him for his services and I’m super elated over the way he handled the case. He is a phenomenal lawyer.

    - S. Spears

  • I’ve learned the importance of having good coverage insurance, thanks to Mr. Kelly explaining everything to me. We do not hope or wait for accidents, but rest assured that I will call Mr. Kelly again if I need his services. Thank you.

    - Ann Zimmer

  • Being represented by Mr. Kelly and his legal team was a very awesome experience. They were very patient and they worked really hard in resolving my case. I would most definitely refer them to all my friends and associates. Thank you very much.

    - Nathaniel Bonney

  • I am very grateful for Mr. Bart’s assistance. He was very professional and fair. I never felt like a client with him. I always felt like a close friend. Also, I would like to thank everyone in the office for being friendly, kind, and for helping me.

    - Glac Mantuso

  • Just want to say thanks a lot because I received way more than I expected. You guys did a wonderful job of getting the max for myself and my family. Everyone I met or spoke to on the phone was really professional and nice. Once again, thanks a lot.

    - Jessica Quinn

  • J. Bart Kelly is the best attorney I have ever met. He is intelligent, caring, understanding, and knows how to protect his clients. I love his strong take-charge attitude to fight for what is right.

    - Teri Haas

  • My lawyer took the time to explain everything in a clear and concise manner. I’ve been treated fairly and with the utmost respect. I am very appreciative of all of the staff at AKD for their services.

    - James Barber

  • I am grateful for the way that my case was handled. Thanks.

    - Darryl Hill

  • Thanks to Bart and Meg. Fantastic group of people and team. Love you guys.

    - Claudine Hope

  • I was involved in a terrible accident and had a lot of serious injuries. I was so happy that Bart (and his team, including his nurse paralegal) was my attorney. The results were much more than expected as far as the settlement. Thanks.

    - Karen Bourgeois

  • I received exceptional service from the law office of Bart Kelly. He is a great attorney who cares about what you are going through, and I am very pleased with the outcome.

    - Melissa Sanchez

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