Types of Debt
What Are The Different Types of Debt?
Debt can come in all sorts of shapes, sizes and types! Having a bit of knowhow and knowledge about your debt can really help when planning how to deal with it.
Takes a look through our debt solution articles to find out more.
Types of Debt FAQs
If you owe money to a utility company, are there any circumstances that could lead them to write it off? It is highly unlikely that a utility company would write a debt off. The only circumstances that could lead to this is if the debt is more than 12 months old and you can prove
The costs associated with going into higher education are constantly increasing. Whether that’s tuition fees, rental fees or simply the cost of living, going to university is beginning to become prohibitively expensive for many young people. For most, the only way it is possible to study at univesity is to take on student loans and
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
A secured debt can fall into two main categories: The first involves the borrower putting forward an asset of theirs, usually their house or property, as collateral for the loan. This means that should the borrower no longer be able to pay the loan, the lender can ‘possess’ the property and use its sale as a