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When deciding whether to pay off secured or unsecured debts first, prioritize secured debts, such as mortgages or car loans, as these are tied to assets that could be repossessed if unpaid. Unsecured debts, like credit cards or personal loans, typically have higher interest rates, but they don’t involve collateral. However, if your unsecured debt is significantly affecting your credit score or finances, addressing it sooner may be beneficial. Ultimately, consider your overall financial situation and interest rates to make the best decision.
What else can I help you with?
What is the difference between unsecured and secured subordinated notes?
The first one is unsecured, the second one secured.
Is there a list of secured and unsecured credit cards?
a good secured card is first premier or orchard bank. unsecured is capital one, etc.
In the event of firm dissolution the first claims on its assets belongs to?
In the event of firm dissolution, the first claims on its assets belong to secured creditors. These are lenders or creditors who hold collateral against their loans, ensuring they are paid first. Following secured creditors, the order of claims typically proceeds to unsecured creditors, and finally, any remaining assets are distributed to the owners or shareholders of the firm.
True or false In a bankruptcy the priority debt the debts that the court feels should be paid first are paid then the unsecured debts are added up?
true
Where can one get a secured homeowner loan?
A secured homeowner loan basically lets you borrow against the equity you already have in your home. If you are in need of this type of product you should check with your mortgage company first.
What is the difference between unsecured and secured subordinated notes?
The first one is unsecured, the second one secured.
Is there a list of secured and unsecured credit cards?
a good secured card is first premier or orchard bank. unsecured is capital one, etc.
Where can I find out how to get a loan for the first time?
You might be able to get a bank loan with the bank that you use for every day banking. They will be able to help you pick the loan that works best for you, either secured or unsecured.
Does a secured credit card build credit the same was a normal card?
No, you have to deposit money in the account first, after that they give you a credit based on the amount you deposited. But the deposited amount stays in there until they change it to an unsecured card.
In the event of firm dissolution the first claims on its assets belongs to?
In the event of firm dissolution, the first claims on its assets belong to secured creditors. These are lenders or creditors who hold collateral against their loans, ensuring they are paid first. Following secured creditors, the order of claims typically proceeds to unsecured creditors, and finally, any remaining assets are distributed to the owners or shareholders of the firm.
What is Secured and unsecured debt?
Secured means that there is some specific item pledged as collateral for that debt...frequently this is represented by some type of recoding of the pledge on official records. A car loan, with the car as collateral and the lender named as a lienholder on the title a good example. A mortgage on a property is another. Unsecured just means there isn't a specific thing it has claim to first and before others...that it is general to all of your assets. Note that if a secured creditor must sell the asset to recover, and the asset doesn't generate enough $ to pay the debt (which includes all interest, penalties and costs of having to take that action), the deficiency is an unsecured debt, which will be able to be paid by process..having your other assets sold.
In a bankruptcy the priority debts -- the debts that the court feels should be paid first -- are paid then the unsecured debts are added up.?
true
True or false In a bankruptcy the priority debt the debts that the court feels should be paid first are paid then the unsecured debts are added up?
true
If you owe 203000 and the house sells in foreclosure for 175000 what happens to the difference do they come after you should you file bankruptcy on just your house or what should you do?
You NEVER get to file bankruptcy on a thing...YOU file bankruptcy, and everything you owe and everything you own is included. Without BK, the amount you did not pay on the loan you must pay. The deficiency the bank will still want to collect. If you can't pay off the loan on a property, you can't provide title to someone else, so you essentially can't sell it. In BK that excess is then classed an unsecured debt, (originally the loan was a secured debt, secured by the property which it gets first right to the proceeds from) and depending on how many assets you have to pay all your unsecured debts, may end up being relieved by the court.
Where can one get a secured homeowner loan?
A secured homeowner loan basically lets you borrow against the equity you already have in your home. If you are in need of this type of product you should check with your mortgage company first.
What is insecure claim?
An insecure claim is when you claim someone did something because of your present insecurities. The only reason why you think this way is because you're insecure. Secure people don't have these kinds of thoughts.
Are there credit cards for people with bad credit?
Credit cards for people with bad credit are secured cards issued by banks. It is also possible to get unsecured cards with low interest rate or zero APR for the first six months. Negotiations can be done with the bank that issued your credit card.
