a friend has car,bike and boat finance but is thinking about going through a debt consolidation company because he is having trouble paying but it says they help with unsecured loans
In the US the non-profit counseling services help with credit card debt
Credit card debt is unsecured
So if they say they help with unsecured loans, it means they help with credit card debt
Now, in the US these non-profits are not called debt consolidation companies
They are called credit counseling services
Debt consolidation is when you go for a for-profit company and they make a loan to consolidate all your debt
Debt consolidation companies are fraud unsecured loan they just tell you not to pay.secured loan you do not pay they take your stuff and sue you for shortage.
Tags: answers, Credit, questions
Source: http://www.newcinemaweekly.com/is-finance-classed-as-an-unsecure-loan/
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