 If i have £12,000 debt to credit cards. a £20,000 mortgage. And live in Scotland. Is going bankrubt an option? |
i don't want to lose my house. but don't want to spend next 3-4 years clearing C.card debt.(i'd like to reduce my mortgage instead.) thanks for any advice.
Additional Details<... |
|
 Washington Mutual Credit card? |
| hello, I got a mail with a credit card offer from Washington Mutual Bank, got online and got approved for a Visa Platinum with a $500.00 credit line. From what I've read it's a good card ... |
|
 Can i have credit card of ICICI bank without opening account in the bank..? |
If yes, Does i need to have some security deposit..
If yes,, how much..... |
|
 Are credit cards even necessary? |
| Do I need one? Why should I get one? Do I need one to buy a car? Can't I just save up? I have a savings account right now. Soon I will be getting a student checking account. I think I would ... |
|
 Is it possible with somone with really bad credit to fincance/buy a new home? |
| Past bad credit due to divorce and other negative situations..now situation is better, good, stable job.... |
|
 Is it true using more than 30% of your credit limit is bad? |
I heard this will affect something called your utilization rate and result in bad credit.
I have a $500 dollar limit on my capitalone card... How am I supposed to use only $150 a month? T... |
|
 Do credit card companies ever give up on collecting money you owe them? |
| My son kept getting offers from different companies and he signed up and was given a liberal credit limit. He had a good job at the time, but has been laid off now and can't pay even the minimum.... |
|
 I have over $ 10,000 in credit card debt. Should I consolidate,bankruptcy or cash in my Ira and pay it off? |
| I do not own a home so would have to use a debit consolidation company. I have just enough in my IRA to pay it all off. I can only afford to payy about $250 a month toward the debt. . What are the ... |
|
 Im trying to find a credit card I can get approved for? |
| I have NO credit, and want to get approved for a non secured credit card. Is there anyone that has been in a simular situation and found a card that they can get approved for?... |
|
 How can you tell if something is a con? |
| I got an email saying that they were looking for people to play parts in movies. When I got to the website, they wanted my credit card information for an activation fee.... |
|
 HOW do i Endorse my check? |
| I got a 4k check. I deposited it, and they said I have to endorse it? Do I just sign in that box, do I have to leave my account number? Why didn't they care before when i deposited 1k in my ... |
|
 Why cant my debit card be processed on paypal to make purchases on ebay? |
| last week i bought a few items using my visa debit card on ebay. it worked fine..i even got the items today..i know there is money left on the card so i tried to make a purchase today but it said my ... |
|
 Should we save for down payment or pay off debt? |
| My husband just married me and my two kids last year and we are trying to make some decisions. Because of student loans and cars, and some credit cards, we have nearly 40,000 in debt! Some of it (... |
|
 Credit card complaints authority? |
| Can anybody tell me who i would need to register a complaint with about my capital 1 credit card (apart from capital1 customer services) as they are harrassing me with 3-8 phone calls a day and have ... |
|
 Why was my visa not covered when i was made unemployed i paid for extra cover? |
| i had a visa card paid extra for cover in case of redundency ect..unfortunately i was paid off and the insurance refused to pay my visa...why take money off me all that time then let me down when i ... |
|
 What options do I have? |
| I am currently financing a 2005 yamaha raptor quad. The monthly payments started at $69 and recently jumped up too $169. Do I have any options that will not effect my credit score? I am only 19 will ... |
|
 I want to buy a new home in January do I have enough time to apply for a new credit card? |
| I want to boost my credit score up to 750+ I keep hovering around 744, 745, and I can't pay off much of my debt. I thought by expanding my debt to credit ratio I could boost my score. I have two ... |
|
|  |
mageta8 | What is the difference between secure and unsecured credit? |
I hear about it all the time but really don't know the difference between the two. Could you also give some examples of both? Thanks for the help! |
 |
 
kja63
 |
Secured credit is credit against something of value. Examples are a mortgage (your house as collateral) and a car loan (your car as collateral). If you don't repay the loan, the lender repossess the collateral.
Unsecured credit is credit extended to you with no collateral. Examples are credit cards. |
|
JDINFLA
|
Secured credit- you have a credit card with a set amount of money already added to it. (daddy put 2K on the card) for you to spend.
Unsecured- traditional CC you can charge at will up to your limit but you will get a bill at the end of the month. |
|
Gatorz22
|
A secured credit card means you have to deposit money in order to be able to charge on the card. It's for people with bad credit but that need a card. |
|
Malakai the Dark One
 |
Secure Credit means there is some property or cash guaranting the loan. Unsecured means there is nothing behind it if you default, other than credit hassles.. |
|
coolew01
|
Unsecured would be credit cards loans with no collateral against them.
Secured loans are backed by something, (mortgage - underlying house) Auto loan - actual car. |
|
KH
 |
Those with the chips are more secure than the barcode ones. An even more secure credit card are those u keep in the vault all the time. |
|
answermonkey
|
Secured credit usually involves some collateral, such as money or liquid assets (stocks, bonds, real estate). For example a secure credit card would involve depositing $5,000 to a savings account where you cannot withdraw the money, and then getting $5k credit card to use (helps to build credit).
Unsecured credit is provided based on the previous reputation, FICO scores and other parameters. A regular credit card would be an example of unsecured credit - the bank didn't ask for anything from you when issuing the card. |
|
Mike10613
 |
Secured credit means you put up your home as security - don't pay the money back and you lose your home. Unsecured credit means you don't put up your home as security - but they can still make you bankrupt and you still have to sell your home to pay them - it just takes a little longer to get the money out of you. But banks nearly always get their money back eventually, with interest of course. In the rare caes they don't - it doesn't matter. they pay savers 4.5% and charge 20% on credit cards and make massive profits - if a few fish get away - doesn't matter. |
|
Speedy
 |
Unsecured means you just sign your name. Secured means you must provide collateral, such as a car or a house, which they can take from you if you don't pay them back. |
|
John H
 |
Secured Credit is backed by either a savings, CD, or other investment insturment this could include a auto or home.
Unsecured is just backed by your signature. Like a personal loan. |
|
Oblivia
|
Secured credit means that you have put up something as collateral...like a car or a house...something that they can take away from you if you do not pay. Unsecured credit is like a credit card or a hospital bill. If you don't make your payments then all they can do is take away your card and ruin your credit...but they cannot take away your property. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 20 minutes(s) ago
| | | |
11 | 29 minutes(s) ago
| | | |
11 | 1 hour(s) ago
| | | |
11 | 5 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
11 | 3 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 2 month(s) ago
| | | |
11 | 4 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
