Sentences with phrase «other unsecured debts carry»
But you can still benefit from lower monthly payments if your credit cards or other unsecured debts carry higher interest rates than the loan and you've fallen into the trap of paying late and accruing late payment fees.
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A second mortgage in Peterborough typically carries lower interest rates than other unsecured debts and for a lot of people is the cheapest way of getting the money they need.
They already carry a high amount of credit card debt, bank loans, and other unsecured debt and they need to keep up with the minimum monthly payments on this debt.
Unsecured debt represents a higher risk, which is why it carries higher interest rates and other finance charges.
Today it's quite common for families — and individuals — to carry $ 20,000, $ 30,000, even $ 50,000 or more of credit card or other unsecured debt.
Consider that the average indebted household carries over $ 15,000 in credit card debt alone, not to mention medical debt, personal loans, second mortgages on underwater homes, and other types of unsecured debt.
If you owe on your car, have credit card debt, or other loans it's best to pay those debts off first because these are usually «unsecured» loans which carry a much higher interest rate than your home mortgage.