Do you feel frustrated by consistently making minimum payments with little to
show for it?

Secured vs. Unsecured Debt

GFM will help you learn the role secured and unsecured debt will play in creating a solid debt management strategy.

Get back to feeling good about your finances!
When creating a comprehensive debt management strategy, you will need to separate your debts into one of two main types; secured and unsecured. While GFM can help you address both, lenders look at secured and unsecured debt differently. Therefore, the solution will need to be customized to the type of debt.

Determining secured vs. unsecured debt.
So, how do you know if a debt is secured or unsecured? It's simple:

Secured credit accounts are loans that are tied to collateral. Collateral is a tangible object (such as a home, car, etc.) that the borrower agrees to surrender if he or she does not pay as agreed on the credit account.
Unsecured credit accounts are loans that are not backed by any type of collateral. Default in payment on these debts will likely lead to collection actions by the credit grantor, but there is no collateral to be lost. The lender is relying solely on the borrower's promise to pay. Credit cards, signature loans, and medical bills are all types of unsecured debt.

GFM is ready to help you with the right debt management plan.
Remember, no matter what your situation is, GFM can help with a customized debt management plan. Call us today at 1.866.467.1259 and one of our friendly, experienced representatives will guide you through the process step-by-step. Our well-planned debt management programs are designed to be effective in the real world and have you back to feeling good about your finances faster than you ever imagined!