Debt Advice Northern Ireland
Debt Solutions Northern Ireland
Fill in this form and we will call you.
Name
Telephone
Email
Debt Amount?
Time to Call?
Apply for Debt Help
Chat to an Advisor Online
Calculate your Debt Repayments
Contact Debt Advice NI

Types of Debt - Unsecured Debt and Secured Debt


What is Secured Debt?

There are 2 types of Debt, Unsecured Debt and Secured Debt. Secured Debt also known as a secured loan is a loan that is secured against an asset of yours like your car or your house. By secured this means that if you fail to keep up with the repayments on the loan the creditor would have the power to repossess the assets secured to the loan like you car, house etc.

What is Unsecured Debt?

Unsecured debt is the opposite of this where the bank or money lender loans you the money without securing it against an asset, therefore the debt carries more risk for the money lender which results in higher interest rates making the loan more expensive for you to borrow.
An unsecured loan means that the creditor cannot claim any assets or goods of you i.e. whatever you bought with the loan money. However they can pursue legal action against you and force you to make the loan repayments. Unsecured debts are more common that secured debt and come in the form of Credit Cards, Store Cards, Bank Loans, Overdrafts, Phone Bills, and Catalogues etc.

Need help with Unsecured Debt or Secured Debt?

If you are having problems with either unsecured debt or secured debt then call Debt Advice Northern Ireland today and our debt advisors will assist you with your debt problems. Alternatively visit our contact page to view the various means of getting in contact with us. Our advice is free and you are under no obligation by contacting us so call today you have nothing to loose.

 
In the UK, consumer credit activities are covered by the Institute of Chartered Accountants in Scotland, Group Licence number G/900011
Complaints Procedure | Insolvency Service Debt Guide | Fees | Privacy Policy

debtadvicenorthernireland.co.uk is owned by McCambridge Duffy, who provide free debt advice on a variety of debt solutions. A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any debt repayment plan. Repaying debt over a longer period may increase the total amount to be repaid.

Phonecalls: Calls from a landline are normally free. Please consult your provider if you are unsure. Calls from a mobile may be subject to charges. If you get charged just ask us to call you back for free.