Other forms of debt include: 1) Secured and Unsecured 2) Private and Public 3) Syndicated and Bilateral. The only set of these that you have to worry about mainly is secured and unsecured because they’re the most common. Secured debts are those that if unpaid can cause you to lose that which you purchased, like your car. Unsecured debts, however, such as credit cards, don’t have this type of consequence. No company is going to take away a pair of jeans you bought with their credit card if you don’t pay off the bill. So secured debts should always be at the top of any gURL’s priority list.
Fast Facts: Debt
Friday, August 12, 2011