unsecured debt

Hi Marc

Welcome to the forums. Unsecured debts are those debts which are not attached to any type of collateral. They generally tend to be more of a verbal commitment where the borrower is not at the risk of attaching any property from his side.

debt consolidation program offers the services of easy repayments on the unsecured debts. All the multiple debts are consolidated into one amount and hence, they are paid to the creditors at a very lower rate of interest.

Consolidation of the unsecured debts is much safer because it has no security attached to it. In case of secured debts which have a property attached to it, if the consumer defaults in any of his payments, he is at the risk of losing his property.

Various types of unsecured debts include personal loans, credit card bills, medical bills are some typical examples of unsecured debts.

Regards
Roxette