Editing Debt (section)

===Default provisions===
{{main|Debt collection}}
Debtors of every type [[default (finance)|default]] on their debt from time to time, with various consequences depending on the terms of the debt and the law governing default in the relevant jurisdiction.  
If the debt was secured by specific [[collateral (finance)|collateral]], such as a car or house, the creditor may seek to repossess the collateral.  In more serious circumstances, individuals and companies may go into [[bankruptcy]].