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What else can I help you with?
Is credit card debt unsecured, meaning it is not backed by collateral?
Yes, credit card debt is unsecured, which means it is not backed by collateral.
Is a credit card considered an unsecured loan?
Yes, a credit card is considered an unsecured loan because it allows you to borrow money without providing collateral, such as a house or car, to secure the debt.
What is credit cards are considered?
unsecured debt
If your wages are garnished for a credit card debt do you list it as a secured debt when filing bankruptcy?
No, credit card debt is always considered "unsecured" regardless of what legal action may have been implemented in the collection of monies owed,
Can you provide an example of unsecured debt?
An example of unsecured debt is a credit card balance that is not backed by collateral like a house or car.
Can you lose your house if you cant pay unsecured loans or credit card debt?
no
Is credit card debt a crime?
No, credit card debt is a unsecured debt. Unsecured debt refers to any type of debt or general obligation that is not collateralized.Hope this helps,My Plastic Walletwww.myplasticwallet.com
How do you settle debt with credit card?
Debt CAN be settled with credit card debt and other unsecured debts. Negotiating a settlement is between you and your creditor and settlements have happened for millions of people and helped them get out of debt.
Is your husband responsible for your credit card debt in ill if it is at a collection agency?
If his name is not on the card,(He did not sign for the card) Then NO! And credit cards are unsecured loans.
Can you loose home to credit card debt?
No. Credit card debt is unsecured and they can take nothing from you ever. They can only harrass and threaten and trick you into settling for a percntage of what you owe.
Is chapter 7 good for a judgments and old bills credit cards?
yes! because in Chapter 7 bankruptcy is considered a straight liquidation of unsecured debt. In simpler terms, this means that all unsecured debt is discharged. in short its a judgement for your term in credit card bills.
What happens when a credit card debt goes to litigation?
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
