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What is Unsecured Debt?

Last updated 1 year ago

Before making the decision to pursue debt negotiation or bankruptcy, it is important to educate yourself on the different types of debts.

In this video we take a closer look at what constitutes unsecured debt. Unsecured debt refers to money that you have borrowed for which there is no collateral in the event you fail to make your payments. For example, a credit card balance is an unsecured debt, as your creditors have nothing to seize when you fail to make your payments. Learn more about unsecured and secured debts in this video.

With several years of experience and an unblemished service record, the debt relief attorneys with the Golden State Law Group are ready to help you discharge various debts and put an end to the foreclosure process. Give our bankruptcy law firm a call at (619) 234-3333 to set up an initial consultation.

 

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