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…
Why Are Americans Drowning In Credit Card Debt?
September 6, 2023
Credit card companies are extremely good at marketing and because of this the use of credit cards have become a norm and a way of life for everyone. Many Americans can say that they use their credit cards on a daily basis. According to experts, the large amount of Americans buried in credit card debt…
Different Types Of Loans and Debts
August 6, 2018
Have you finally decided to tackle your debt, once and for all? Good for you! One of your first steps should be to assess everything that you owe. Once you have everything tallied up, it’s important to figure out whether your loans are secured or not. What is the difference between a secured and an…