What’s the difference between unsecured and secured debt?
Unsecured debt isn’t tied to any collateral, and includes things like credit cards, medical bills, and personal lines of credit. These are the types of debt Think Debt Relief can help you negotiate, settle, and get rid of. Secured debt is tied to some form of collateral; it includes accounts like a home mortgage or an auto loan. If you fail to make your payments on a secured debt, the collateral may be repossessed by your creditor — in the case of a home or auto loan, for example, you could end up losing you home or your car. Unfortunately, Think Debt Relief won’t be able to help you with these types of debt.
