The Differences Between Secured Debt and Unsecured Debt
October 11, 2023
Consumer debt can generally be categorized into two main types: secured debt and unsecured debt. Each type of debt has its own characteristics and implications for borrowers. Secured debt typically comes with lower interest rates because there’s less risk for the lender, but the borrower risks losing the collateral if they can’t repay. Unsecured debt,…
How To Avoid Debt: 6 Tips
September 21, 2023
There are situations where debt is best to be avoided. Credit card debt for example, can lead to sky-high interest charges and lower credit scores when you can only afford to pay the minimum monthly payment. A car loan with a monthly payment that is unaffordable in your budget can put you at risk of…