Newsletter - The Main Types Of Debt And How To Handle Each

This is your Newsletter. [LPB]( [LPL]( [LetmePayday Newsletter]( You Might Like     [Learn more about Jeeng](  [The Main Types Of Debt And How To Handle Each]( [The Main Types Of Debt And How To Handle Each]( All debts are not created equal. Generally, there are two main types of debt: secured and unsecured. Within those types, you’ll see revolving and installment debt. Aside from the fact that you owe money, these types of debt are different. For instance, your mortgage is an example of secured debt, while an example of unsecured debt is your credit card. How best to handle each kind of debt varies. What Is Secured Debt? When you put up collateral for a loan, you’re dealing with secured debt. For instance, a mortgage is typically secured by your home and an auto loan is usually secured by your car. If you get too far behind on paying a secured debt, the lender can seize the debt—foreclose on your home or repossess your car, for example. If the seized collateral does not cover the debt you owe, the creditor may go after you in court to collect the rest of the money. For instance, if you owe $10,000 on your car, but it’s valued at just $6,000, the creditor may seek a court judgment against you to get the difference ($4,000). Other types of secured debt include a home equity loan and a home equity line of credit (HELOC). In both cases, the debt is secured by your home. [[icon] Read MoreÂ](  [Online Personal Loans up to $50,000](   [Americans Burned Payday Loans and Credit Cards to Speculate on Digital Currency: Survey](  [Americans Burned Payday Loans and Credit Cards to Speculate on Digital Currency: Survey]( Almost 22 percent of Americans who have taken to gambling on the promise of meteoric returns in the digital currencies market have done so through borrowing money, and often at extremely high interest rates. The results of a survey conducted among 1,500+ Americans “to study their investing habits,” finding that although the majority of speculators have stayed away from the most dangerous kinds of leverage, a frightening proportion are playing with fire. The survey was conducted from June 9 to 16, was composed of 18+ year-olds who responded via SurveyMonkey and the firm’s subscriber list, and all respondents reported an annual income of under $250,000. Fifty-nine percent of all respondents were female, while the largest age demographic was 45 to 60-year-olds who comprised 37 percent of takers. Asking respondents if they have ever “taken out a loan or used extra loan proceeds” to gamble on crypto, 78.63 percent responded in the negative. However, 15.3 percent said they’ve used a personal loan with an additional 4 to 6 percent of respondents admitting they’ve utilized any of a payday loan, title loan, home equity loan, their student loans, or refinancing their mortgages. [[icon] Read MoreÂ](  You Might Like     [Learn more about Jeeng]( Connect with LetmePayday on Social Media Pages [Facebook]( [Linkedin](    [Unsubscribe](