National Student Loan and Credit Report Debt Attorney

Are you stuck in the hamster wheel of debt?

Debt isn’t just that credit card bill with 24% interest you can’t seem to pay off. Real debt makes you feel financially trapped with no way out. Real debt means you’re struggling to pay almost everything, including:

Let us help you out of the hamster wheel and into the driver’s seat again.

Types Of Debt

Debt comes in all shapes and sizes and like it or not, its part of everyone’s DNA. Sometimes people refer to them just as monthly bills, or monthly expenses, and some are just that. However, the typical larger purchases or credit cards and medical bills are what most people consider their debt that, in more general terms, can be classified in one of two different types- secured or unsecured debt.

What is Secured Debt?

Secured debt is an obligation or debt that requires collateral in order to obtain a loan. Examples of a secured debt would include your:
1) home mortgage
2) a home equity line of credit
3) Car loan
4) RV loan
5) boat loan
6) title loan

A secured debt lender sees a secure loan as lower risk because there is collateral behind what is being loaned (ie. the house, car or boat). However, if you fail to make timely payments, the lender can reposes or put a lien on the collateral.

What is Unsecured Debt?

Unsecured debt is incurred by receiving a loan or line of credit with no collateral required. Examples of unsecured debt include:
1) Credit cards
2) Department store cards
3) Telephone bills
4) payday loans
5) medical bills
6) business credit cards.

Unsecured loans are usually smaller loans than secured loans and typically come at a higher APR.

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