Unsecured Debt

Unsecured Debt that clients have is a debt that does not have any collateral attached to it. Collateral is any asset or property someone would have signed over to ensure if a client missed payments, the lender has collateral to collect on the debt. Provided below is a few examples of what unsecured debts are:

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• Credit Cards (Assuming not a secured credit card)

• Unsecured Personal Loans

• Lines of Credit

• Medical Debt

• Collection Debt (Assuming no collateral was provided)

• Repossessions (The car has been taken back)

• Specific Student Loans