what is the unsecured debt?
Firstly we explain that;
An unsecured debt doesn’t need any private property or vehicle for the payment of your debt.
If you fail to make payment with unsecured debt, unsecured card issuer can’t take your private property or vehicle.
So, a secured cradit card or secured debt has a guarantee. If you can’t pay it, the payee can take your property.
If you don’t pay an Unsecured Debt or unsecured credit card what will happen?
If you can’t make payment on an unsecured credit card debt, the creditor may contact you to try to obtain payment.
Generally, Creditor can’t seize any of your property or vehicle witout a court judgment.