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It can be, but normally isn't.
If its secured to anything (Home equity line, etc) then yes.
If its a normal credit card, then no.
Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
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What is credit card debt considered?
revolving debt
Is payroll considered a secured debt in Florida?
No...what could it possibly be secured to or by?
Are Credit cards are considered secured debt?
yes
If you did not put up any collateral on a debt or have a signed agreement to a debt can the debt for any reason be considered secured?
The debt cannot be considered secured. However if you fail to pay, you may have a bankruptcy petition to face which could result in your goods and property being sold to pay the debt.
Is a house mortgage a secured debt?
Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. If the borrower defaults on repayment, the bank seizes the house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which is why unsecured debt is considered a riskier investment find more about PMI services in Florida United Financial Counselors contact with us.
What is the difference between a credit card and a secured credit card?
A consumer credit card is issued to you on good faith that you will build debt and pay it off. A secured credit card is issued to you for the amount that you deposit into a secured savings account. The debt you charge to your card cannot exceed the amount that you have in your account. Once you show good faith that you are responsible enough to maintain your credit to debt ratio and pay your bills on time, the company may offer you a consumer card in place of the secured card. A secured credit card is a great way to establish credit.
What is the Difference Between a consumer credit card and a secured credit card?
A consumer credit card is issued to you on good faith that you will build debt and pay it off. A secured credit card is issued to you for the amount that you deposit into a secured savings account. The debt you charge to your card cannot exceed the amount that you have in your account. Once you show good faith that you are responsible enough to maintain your credit to debt ratio and pay your bills on time, the company may offer you a consumer card in place of the secured card. A secured credit card is a great way to establish credit.
What is an account receivable that will never be paid considered?
bad debt
What is an A R account that will never be paid considered to be?
bad debt
What does the concept of secured debt mean in finance?
Secured debt is a debt that is guaranteed by the use of collateral. If the debt is not repaid, the creditor has the right to take the collateral from the borrower.
Does a senior debt have priority over a secured debt?
Secured debt has priority over other debdtors to the secured property. If that does not saisfy the claim, then te remainder may be filed as a general claim, taking position below senior debt.
What is an accounts receivable account that will never be paid considered?
bad debt
