Can a student loan be considered a unsecured debt?

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A student loan is an unsecured debt. To be secured, there needs to be something, generally phyisical (but not always), that can be taken (repossessed), and sold to satisfy the debt if it isn't paid. Kinda' hard to take back an education!
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Can a vehicle be repossessed if the loan is not in default but other unsecured debts are.?

Seperate loans, have no right to car The two loans are separate as you said it was "unsecured," so it doesn't seem they are able to. The Credit Card company will list as defaulted if over 6mo past due and they will then sell it, giving 7years for the next company to collect on it before it is eithe ( Full Answer )

Does emigration effectively discharge student loan debt?

Yes, but you should also do the following: 1) First, obtain dual citizenship in the country you are emigrating to. 2) Liquidate and remove all assets from your native country to avoid possible forfeiture by the Government, who will try to seize anything of value when you default on your st ( Full Answer )

What is unsecured debt?

Answer \nAny debt that does not have collateral property attached to it, (credit cards, personal loans, pay day loans, etc.).\n\nSecured debts are real property (homes, business, vehicles, goods purchased on merchant accounts, perfected liens, etc.).

Debt consolidation on secured and unsecured loans with bad credit?

Debt consolidation is when you consolidate multiple lines into one new loan or debt consolidation program - it typically involves a debt consolidation loan. It is important that you know what your options are and what your goals are before choosing a debt consolidation program or company. I took hel ( Full Answer )

Who is responsible for student loan debt after your death?

The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.

Are student loans bad debt?

Any loan that has to do with furthering education is never a bad debt. The only bad thing is if you do not pay back your debt. It does count against your credit score negatively however a loan officer may find that its a good debt when you have paid on time over a long period of time. The opposite ( Full Answer )

How can I obtain an unsecured loan for debt consolidation of value R70 000?

\n. \nUnsecured debt consolidation loans are indeed a great help for debtors. It implies that you shoot a number of unsecured loans by another unsecured loan. But more often than not, it involves no security against your money provision and serves your purpose without collateral. It tries to cut ( Full Answer )

How do to pay student loan debt after college?

Okay, I'm a Freshman in college and when I am done with my full year in may I'll already be in 19K debt. I'm really nervous about it and it stresses me out, but I will refuse to drop out just because of the hefty price. I'm actually transferring schools to a public to make it less expensive. But I'v ( Full Answer )

Can you apply for Debt Consolidation on Student Loans?

Yes. Those who are already finished or out of school can apply for a student loan consolidation. If you're still in school but you want to start with your repayment, then you may apply for consolidation as well.. Answer: . Yes. Even if you consolidate your student loans, you can still defer your p ( Full Answer )

Can you eliminate student loan debt interest?

In the US, the government will not remove the interest on student loans. They have too many ways of collecting. This collecting process will extend all the way to your social security.

A student loan is considered default after?

In the US, a Federally Guaranteed student loan is considered default after 270 days on non-payment. If you need help with your delinquent or defaulted student loans, click on the link below.

How can you get unsecured loan?

You can get an unsecured loan from many companies that offer loans from the very small amounts, to very large sums. Unsecured means no collateral, so you need not put up an "asset" for the lender to hold to before you are given the loan. Having this type of loan would have to require that you have g ( Full Answer )

Is a student loan considered federal?

In the U.S., student loans can be Federal or Private. Stafford, PLUS, and Perkins loans are Federal. Most others are private.

How can single mom pay off student loan debt?

There is a free budgeting web app with a feature called Credit Card Debt Terminator which can be used as a Student Loan Terminator. This feature is built right into the budget and it makes it very easy to maximize the loan payment as part of an overall budgeting strategy to help pay off the loan as ( Full Answer )

If you get married will your wife be liable for your present student loan debt?

This depends on the structure of the loan, who it is received from, where you are lving, where you are marrying, and several minor factors. In some case, your partner will not be liable for the loan, as it your own personal contract and they cannot enter it. In others, your debts are pooled.

Where do you get an unsecured loan?

An easy way to find an unsecured loan service is by searching online. Online lending services provide an easy and fast way for people to get the money they need, right when they need it.

What is the difference between a student loan calculator and a debt calculator?

A student loan calculator helps a student calculate their loan payments based on how much they are expected to earn in their new profession. A debt calculator helps a person know how long it will take to pay off all of their debts and become debt free. The amount entered into the calculator will dep ( Full Answer )

What should you consider before taking out an unsecured loan?

A few things to consider before taking our an unsecured loan are: 1. Can you afford the extra payment? 2. What is the loan for, is it something I really need. And 3. How long would it take me to save for the item I will be buying with the money from the loan?

What type of bankruptcy do you file for unsecured debt and a car loan?

There are different types of Bankruptcy. Chapter 7 is for the debtor which has debts like medical bills,carloans etc. But if you want to pay back your debts then you can fileChapter 11 and 13 which has a payment plan. You can pay your debtsthrough payment planning. Try to search more information abo ( Full Answer )

What are unsecured loans?

An unsecured loan is a loan in which the borrower does not need topledge their valuable asset as collateral to the bank. It can beavailed through any financing firm in India at the cheapestinterest rates. Personal Loan can be used for any purpose such ashome renovation, debt consolidation, wedding p ( Full Answer )

How can student loan debt be consolidated?

Student loans can be consolidated after graduation or dropping out of school by filing with the government to consolidate all federal student loans. Remember that non-federal loans cannot be consolidated.

When is it worth considering loan consolidation debt companies?

Consolidation loans can be beneficial in some circumstances. If one has a large amount of student debt along with credit card debt they can be rolled into one, meaning just one payment per month. But the interest rates can be large, and not all companies are equal in terms of customer service. We ( Full Answer )

What is an unsecured bad debt loan?

An unsecured loan would be one where the lender is relying on the borrower's promise that the loan will be paid back. There is no collateral involved and that is risky. Bad debt would be considered consumer debt or one that cannot be recovered.

How can one achieve debt consolidation on their student loans?

Student Loan repayments can often blindside a graduate. Consolidating these loans is often not a viable option due to restrictions on these debts. Those looking to consolidate student loan debt should contact firms such as Chase, NextStudent, Wells Fargo or Student Loan Network.

Where can a student get debt relief for a loan?

There are two different answers, depending on whether a student is looking for relief from a loan or a person is looking for relief from student loans, which are not generally due and payable while they are still students. Student loan relief is available directly from the lender in the form of cons ( Full Answer )

Where can one find an unsecured debt loan?

Loans come in many forms, but unsecured loans are generally only allowed for small amounts and are charged at higher interest rates. Tesco bank offer these but a good credit rating is required.

Where can one get an unsecured debt consolidation loan?

It's a good idea to check with several different resources to find the most advantageous deal for yourself. Any bank or credit union you do business with is a good place to start. Also check online sources such as Lending Tree and Quicken Loans.