Open your secured personal loan with CUTX. Strengthen your standing, repair or build your credit, and get the money you need to build your future now.In Texas, if you file for bankruptcy and have secured debt, you generally have two options: reaffirm the debt or surrender the collateral. We offer hard money loans to use on residential projects like fix-and-flips, and commercial real estate ventures, like office parks and warehouses. Creditors in Texas must file a debt collection suit within four years to collect a debt from a person. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Collateral pledged to Federal Reserve Banks (Reserve Banks) can be used to secure discount window advances and extensions of daylight credit. If the debtor defaults, the creditor can obtain a lien against the collateral. A Texas Deed of Trust creates a lien on property to secure a Promissory Note. These are two documents needed for real estate loans and seller financing.