is a co signed loan considered secured 
although having a co signer may help you get approved for a loan it doesn t make the loan secured in the case of a default the lender would require the co signer to repay the loan can bankruptcy eliminate all unsecured loans declaring bankruptcy is a serious undertaking but in most cases it will clear your unsecured loans there is one exception though student loans to have student loans forgiven the debtor must prove that the loans present an undue hardship during an adversary proceeding private student loans used to pay for living expenses are more likely to be forgiven though a new streamlined adversary proceeding paperwork is making it easier for even federal student loans to be discharged the bottom lineunsecured loans are common but can bear significant risk for both the lender and the borrower before taking out any unsecured loan assess your financial health and your ability to repay the loan borrowing money that you can t repay can result in garnishment of wages and tax returns and put the borrower on a difficult path back to solvency 