Debts are classified as unsecured debts when they do not have any collateral associated with them. The most common forms of unsecured debt include credit cards, credit card cash advances, department store cards, student loans, personal loans, medical bills and utility bills. Because there isn’t any asset attached to this type of loan, the lending institution has nothing to claim in the event that you default on your payments. Unsecured debts are the opposite of secured debts, such as mortgages or car loans. With secured debts the bank has the right to repossess your house or car and sell it as a means of settling your debt if you are unable to make payments.

The only option for the credit card company, or other lending institution, if you fail to make payments on an unsecured debt is to take legal action. These companies are then forced to sue you for the money, using the law as a mode to force you to pay what you owe, because they have no product or asset to collect. But what happens if your financial situation has changed, and you just don’t have the money to pay even just the minimum payments? Many consumers are faced with the question of how to get rid of unsecured debts, because obviously they cannot give back what they bought, such as the case with secured loans.

There are three main ways to debt reduction. The first is obvious; to make the monthly payments and pay the sum in full over a period of time. But this option is nullified if you are struggling and are no longer able to make the payments. If your debt is significant, you can completely eliminate it by filing for bankruptcy. Although this may seem like an easy, “get out of jail free” card, it is imperative that you realize the consequences that filing for bankruptcy has. This will stay on your records for up to ten years, making it difficult to obtain employment in certain fields or secure housing and a vehicle.

If you don’t have enough money to make the payments, but you don’t want to file for bankruptcy just yet, you should consider the third possible way to eliminate unsecured debt: debt settlement. During the process of debt negotiation, one of our industry experts will negotiate with your creditors, agreeing on a lower balance. You will pay this balance, which is no upfront fees until your debt settled, and it will count as a payment in full for all of your debt. Our credit card debt settlement programs usually last from 12 to 36 months.

Debt help is the best way to eliminate unsecured debt because it is the only way to get debt relief without harsh consequences. Lending institutions are willing to negotiate with our debt settlement representatives because cooperating with us guarantees that they will be paid something. The cost of taking you to court is often not worthwhile, especially if you were to eventually file bankruptcy, thus leaving the creditor with nothing.

If you have unsecured debts that you are struggling with, please take a moment to fill out our no obligation debt settlement form, so we can help you eliminate your debt. Debt settlement is not only the best choice for resolving unsecured debt, but it is the fastest as well.

List of States where we offer debt settlement

• Alaska AK

  Arkansas AR

  Alabama AL

  Arizona AZ

  California CA

  Connecticut CT

  Delaware DE

  District of Columbia DC

  Florida FL

  Idaho ID

  Illinois IL

  Indiana IN

  Iowa IA

  Kansas KS

  Kentucky KY

• Maine ME

  Maryland MD

  Massachusetts MA

  Michigan MI

  Minnesota MN

  Mississippi MS

  Missouri MO

  Montana MT

  Nebraska NE

  New Hampshire NH

  New Jersey NJ

  New Mexico NM

  Nevada NV

  New York NY

  North Dakota ND

• Ohio OH

  Oklahoma OK

  Oregon OR

  Pennsylvania PA

  Rhode Island RI

  South Dakota SD

  Tennessee TN

  Texas TX

  Utah UT

  Vermont VT

  Virginia VA

  Washington WA

  West Virginia WV

  Wisconsin WI

  Wyoming WY