Debt
FAQ's
Debt Settlement Calculator
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Debt Settlement Frequently Asked Questions
- How do I qualify
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What is the difference between secured debt and unsecured debt?
An unsecured debt relies only upon your promise to repay (and the promise of co-borrowers and/or co-signers as well) the debt.
The most common types of unsecured debts are credit cards, department-store cards, medical bills, and personal (signature) loans.
A secured debt relies upon collateral or security for a secondary source of repayment if you fail to repay. The most common forms
of secured loans are home loans (mortgage and equity line-of-credit), car loans and RV loans. Once default takes place, the creditor's
recourse is usually to foreclose on a home or repossess a vehicle. A quasi kind of "secured" loan is a student loan. It's really a
"guaranteed" loan, but the guarantor is usually the State or Federal Government. Because the lender can get guaranteed repayment,
we cannot negotiate student loans.
- How long will it take to settle
- Service investment
- Creditor Interaction
- How is my credit affected
- Settlement vs. Consolidation or Counceling
- What about bankruptcy
- USDR Helpful Debt & Information Links
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