Whether managing personal finances or business finances, it is important to remember that your debt structure should be an accurate reflection of your ability to repay what debt you do incur. There are essentially two types of debt: secured and unsecured. Secured debt is debt tied to real property, such as a house, a car, etc. Unsecured debt comes into play with things purchased by credit card where there is no real property or items tied to the debt. Should you find yourself in a situation where your unsecured debt is overwhelming, consulting and researching debt reduction companies and assistance may be a good idea as an alternative to bankruptcy.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Ask a Question

Not finding the advice and tips you need on this Legal Forms Tip Site? Request a Tip Now!

Guru Spotlight

Tammi Reynolds

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!