What is Unsecured Debt?

Unsecured debt refers to any borrowing where the consumer hasn’t been required to add any assets as collateral. This means that should the borrower not be able to continue paying the loan, the lender would need to pursue the debt.

 

Takes a look through our unsecured debt articles to find out more.

Unsecured Debt Examples?

Council Tax Debt

Council Tax Debt

Council Tax is a yearly fee paid to your local authority, used to pay for all the public services that are in your local area.

Credit Card Debt Help

Credit Card Debt

A credit card is a convenient way to borrow money from a bank or lender via the use of a plastic card.

Gambling Debt

Gambling Debt

In simple terms, gambling debt is when a person owes money to a bookmaker or casino.

HMRC Debt

HMRC Debt

HMRC arrears is any debt that relates to Income Tax, National Insurance, VAT or Tax Credit Overpayments. 

Overdraft Debt

Overdraft Debt

An overdraft is an agreed amount of credit attached to a bank account. It allows your account to fall into a negative balance.

Bankruptcy Sequestration

Payday Loan Debt

A Payday Loan allows you to borrow a small amount of money and pay it back once you have received your next wage.

Personal Loan Debt

Personal Loan

A personal loan is when you borrow from a bank, building society or other creditor, agreeing to pay it back over a set repayment term.

Student Loan Debt

Student Loan Debt

With ever increasing tuition fees, rental prices and living costs, going to university is more expensive than ever.

Catalogue Debt

Catalogue Debt

Catalogues remain an extremely popular way of purchasing goods for many people. They often give you an option to ‘buy now, pay later’ and to spread the cost of your purchases over a period of weeks.

Store Card Debt

Store Card Debt

A store card works in a very similar way to a credit card, however it only authorises you to purchase goods from the store that issued the card.

Utility Bill Debt

Utility Bills Debt

Few things in life are more essential than your utilities and it’s not an overstatement to say that water, electricity and gas are three things few people can live without.

Unsecured Debt FAQs

Utility Bill Debt
Utility Bills Debt FAQs

Do Utility Companies Write Off Debt?

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

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Student Loan Debt
Student Loan Debt FAQs

What Is The Average Student Loan Debt?

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

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Personal Loan Debt
Unsecured Debt FAQs

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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Utility Bill Debt
Utility Bills Debt FAQs

What Happens If You Don’t Pay Utility Bills?

Utilities are essential to our way of live and we often take them for granted. But, if you’re faced with bills you can’t pay, then you may be faced with severe consequences inlcuding the frightening prospect of having one or more of your main utilities disconnected. As with most debts and arrears, swift action can

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