Unsecured debts are not tied to any particular asset, and include most credit card debt, bills for medical care, and signature loans.
Most automobile financing agreements allow a creditor to repossess your car any time you’re in default. If your car is repossessed, you may have to pay the balance due on the loan, as well as towing and storage costs, to get it back.
Call the local office of the Department of Housing and Urban Development or the housing authority in your state, city, or county for help in finding a legitimate housing counseling agency near you.
If you’re struggling with significant credit card debt, and can’t work out a repayment plan with your creditors on your own, consider contacting a debt relief service like credit counseling or debt settlement.
You can find information about budgeting and money management techniques online, at your public library, and in bookstores.
Computer software programs can be useful tools for developing and maintaining a budget, balancing your checkbook, and creating plans to save money and pay down your debt.
Are you worried about losing your home or your car? Many people face a financial crisis at some point in their lives.
Are your accounts being turned over to debt collectors?
Collectors may not harass you, lie, or use unfair practices when they try to collect a debt.
Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops.
Their counselors are certified and trained in consumer credit, money and debt management, and budgeting.
Contact your creditors immediately if you’re having trouble making ends meet.
Tell them why it’s difficult for you, and try to work out a modified payment plan that reduces your payments to a more manageable level.