Does a secured car loan become an unsecured debt?

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Can a student loan be considered a unsecured debt?

Answer . \nA student loan is an unsecured debt.\n. \nTo be secured, there needs to be something, generally phyisical (but not always), that can be taken (repossessed), an

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 th

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.

When filing chapter 7 is a car loan a secured or unsecured claim?

Lien on title...they get the property before anyone else...you can't sell without their release: Secured.. If you had to ask this maybe the most basic of loan questions and e

Is bank OD a secured or unsecured loan?

A bank overdraft is an unsecured line of credit. The size of the line is negotiated with the bank and the rate is generally tied to the Prime rate (or LIBOR).

What does a secured loan and unsecured loan mean?

A secured loan is a loan in which there is physical collateral, meaning there is a physical item of worth that can be taken by the bank if the loan is not paid. Examples of th

How do you unsecure your debt once it is secure?

The first step to move secure debt to unsecure is to get a credit report to see how much unsecure credit you can obtain. Apply for different loans and use the unsecure credit

How is an unsecured loan different from a secured loan?

SecuredLoan: A Secured Loan is a loan, in which a person has toprovide an asset such as gold/property as collateral to the lender.This type of loan is favorable for those bor

How does a secured loan differ from an unsecured loan?

A secured loan is a loan that some monetary interest (money or property of value) attached to the loan to insure its repayment. If the loan is not repaid, the monetary interes

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