Where would you turn for help if credit card and
other unsecured debt became unmanageable?
Not exact matches
So, I think the answer
becomes really obvious when we look at the
other types of
unsecured debts like credit cards.
At the very least, as student loan
debt becomes a greater and greater burden on consumers in America we will see it erode the money people spent on
other items and see a continued decrease in
unsecured consumer
debt levels.
If the issuer
becomes insolvent (that is, can't pay its
debts), you may get some of your money back after secured creditors (like the issuer's bank) are paid but before
other unsecured creditors are paid.