Personal Loan Debt

Why is Unsecured Debt Bad?

Unsecured debt, like a personal loan, is a very straightforward way to borrow money. You received an amount of money from the lender and you agree to pay that money back in instalments along with any interest.   Some of the negatives that are associated with unsecured loans are that, since they are not secured against any assets, the …

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Hire Purchase

What Happens if I Don’t Pay Hire Purchase?

Hire Purchase is most commonly used to buy cars; however, some businesses will use it to purchase expensive equipment. As long as you consistently make your repayments, once your payment term has ended, you will own the item outright.   But, if you continually miss payments, then the consequences can be severe. Here are the steps your lender is likely to take:    Payment Reminder- …

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