what exactly is unsecured debt consolidation?
Unsecured debts are debts that you have that are not backed by anything. In other words, your debts have no collateral. For example, a mortgage would be a secured debt because it is backed by your house. An auto loan uses your car as collateral. An example of an unsecured debt, when your debts are not backed by collateral, is a credit card. Credit card debt is not backed by collateral, you simply pay off your debts in a timely matter but if you do not there is nothing the credit card company can take away from you. They can ruin your credit score and maybe even take you to court for your money, but they can’t actually take away any of your physical belongings.
