Types Of Debt

If you are in debt or about to borrow money or get finance, you need to understand the difference between secured and unsecured debt

Generally there are two types of debt – secured debt and unsecured.

Secured debt means the creditor (company or person) you owe money to has the legal right to repossess the goods or property that the loan is secured against. Examples of secured debts are mortgages, secured loans on property or Hire Purchase (HP) normally found on vehicles.

Unsecured debts are not secured to anything and therefore the creditor does not have the automatic right to repossess any goods, even if you are struggling to repay the money that you owe. Examples of unsecured debts are credit cards, loans, storecards, catalogues, overdrafts, income tax bills, and so on.

Essential Info
Essential Info: Debt
Essential Info: Types
Essential Info: Debt Causes and Circumstances
Essential Info: Debt FAQ
Essential Info: Money
Essential Info: Debt Dos and Don'ts
Essential Info: Blacklisted
Essential Info: Debt Instructing
Essential Info: Debt Negotiating
Essential Info: Debt Negotiating Tips
Essential Info: Budgeting
Essential Info: Credit
Essential Info: Loans

Explain your situation and find out the right solution for you. Talk to our panel of recommended experts over the phone, via email or even ask them to visit you. click here to find out more
Simply enter your debt details Wizard will tell you which solution is best for you Click here to try it