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Can unsecured debts be turned to secured debts ever?

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Can unsecured debts be turned to secured debts ever if I have any asset?

Yes, you can consolidate your multiple unsecured debts by taking out a home equity loan, which is a secured loan, as your home is the collateral. This type of loan you can take out if your house is paid off or if you've built substantial equity in your home. This is a kind of secured loan against your property.
However, before opting for such an option, make sure you can repay it within time as otherwise you mat face a foreclosure on your home.

Sub: #1 posted on Thu, 10/25/2018 - 00:31

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