What is difference between a secured debt & unsecured debt?
Secured Debt – A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lender, called collateral, to satisfy the debt if you default. Unsecured Debt – A debt that is NOT tied to any item of property. A creditor doesn’t have the right to grab property to satisfy the debt if you default. • Am I a good candidate for this program? Answer: This program is for individuals experiencing a financial hardship. Your hardship could be the result of job loss, reduction in overtime hours at work, medical issues, divorce, death of a loved one, etc. This hardship should be the direct cause of why you are late or having difficulty paying your bills. If you are already receiving collection bills and harassing phone calls this is the ideal program for you. If you are considering bankruptcy but want to avoid it at all costs this program would also be an alternative to filing bankruptcy. If you have $5,000 in unsecured debt or m
