White Paper: What You Need to Know About Secured Debt & Unsecured Debt
Different types of debt carry different consequences while they are active and in the event of a default. Whether people are struggling to make payments or have a surplus of cash they’d like to use to pay off their debts faster, it’s important that they know how their debt can affect them. The best place to start is by understanding the two major forms of debt: secured debt and unsecured debt. This white paper will explain what each form of debt is, the consequences of defaulting, how each type of debt can affect your credit score, which to prioritize and under what circumstances, and finally tips to reduce and eliminate debt. If you have more questions about the different types of debt and how to handle them, contact a representative at Advantage CCS.
