Educational Resources Debt Edge Newsletter Defeat Debt Newsletter Debt Quiz Calculators Know Your Rights Referral Resources Learning Center
Credit Advisors FoundationResourcesAsk MichaelaFor CreditorsContact
Home
About Us
Help Me Now
Testimonials
Educational Resources
Press Room
Member’s Site
Creditor’s Site
Contact Us
Privacy Policy
En Español

What is secured debt?

The only difference between secured debt and unsecured debt is that you have pledged some type of real property or valuable to be surrendered in the event that you are unable to meet the terms of the agreement. Many people think that only car loans or mortgages are secured but any type of debt can have security. Purchase Money Security Interests (PMSI) are held when you use the amount of credit extended to purchase an object such as furniture, jewelry, or home improvements.

If payments are not made promptly on a secured debt, the security (pledged item) can be repossessed. This type of debt can be included in a DMP but you must make certain your Account Manager is aware of the security interest to assure that the debt receives priority treatment.


 
credit advisors | foundation
Your education and debt consolidation partners
1818 South 72nd Street
Omaha, NE 68124
800-942-9027
  
1944 Pacific Ave STE 203
Tacoma, WA 98402

Home   About Us   Debt Management Services   Quote   Testimonials   Educational Resources   Budgeting Services   Site Map   Press Room   Members   Creditors   Contact Us   Privacy Policy   FAQ