I obtained a loan from a local loan company…
I obtained a loan from a local loan company and they had me list my furniture and/or other
household items I already owned. Is this a secured debt and will I have to return these items?
When you list household items you already owned as collateral for a loan this is what we call a nonpurchase money security interest and I can usually void their lien and you can keep these items without having to pay for them.