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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.
What else can I help you with?
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.
Under what circumstances will a debt be considered secured by property?
A debt is considered secured by property when the borrower pledges an asset, such as a house or car, as collateral for the loan. If the borrower fails to repay the debt, the lender can take possession of the property to recover the amount owed.
Are car loans considered unsecured debt?
No, car loans are considered secured debt because the car itself serves as collateral for the loan.
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.
Can you provide assistance with secured loan debt?
Yes, I can help with secured loan debt.
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 are some examples of secured debt?
Secured debt is a type of debt that is backed by collateral, such as a house or a car. Examples of secured debt include mortgages, auto loans, and home equity lines of credit.
What are the implications of credit cards being considered secured debt?
When credit cards are considered secured debt, it means that the credit card company can seize and sell the collateral (such as a house or car) if the cardholder fails to repay the debt. This can have serious consequences for the cardholder, as they risk losing their valuable assets if they are unable to make payments on their credit card.
