Unsecured Debt is debt that is not tied to any item of property. The creditor does not have the right to take away goods or property in case you default on the loan.Types of Unsecured Debt are:
Credit card debt
Medical/Hospital Bills
Department Store Credit Cards
Oil/Gas Credit Cards
Personal Loans (with no collateral)
Overdue Rent
Autos (Repos)
Local Merchants
Past Due Utility Bills
What is Secured Debt?
Secured Debt are those tied to goods or property. The creditor has a lien on the goods or property and if the loan is in default, the creditor can foreclose or repossess the property or goods.
Types of Secured Debt are:
Student Loans
Mortgage Payments
Car Payments
Secured Personal Loans
Income Tax Payments
If you are unsure of what kind of debt you have please call us 866-998-DEBT (3328), we can provide you free advice on your debt matters.
