Both secured and unsecured debt can be discharged in Chapter 13 bankruptcies, but non-dischargeable unsecured debts cannot be discharged in California. The law protects you from abusive, unfair, or deceptive debt collection practices.Here is information about some common debt collection issues. Secured debts are those for which the borrower puts up some asset to serve as collateral for the loan. A secured party with a perfected security interest in the accounts of the debtor, a general contractor, encumbered the debtor's right to the amounts withheld. California's one action rule and antideficiency protections, together with the related fair value limitations, are procedural rules with substantive effects. Securing a debt means you agree to surrender ownership of an asset if you cannot or do not make the monthly payments. Use form FTB 2424, Water's-Edge Foreign Investment Interest Offset, to compute the foreign investment interest offset.