Welcome to Tip’d, a social media site for finance, investing, and business topics. Want to participate? » Join Tip’d now! or read our FAQ.
Imagine losing your home over a $1500 credit card debt. Crazy, right?
After all, credit card debt is typically unsecured debt, meaning that it’s not collateralized by a lien on your assets (or in English: the bank has no right to take any of your stuff if you can’t pay your credit card bill).
Well, it appears that ‘unsecured’ doesn’t mean what it used to.
Save & Share
Spam? Topple this!
After all, credit card debt is typically unsecured debt, meaning that it’s not collateralized by a lien on your assets (or in English: the bank has no right to take any of your stuff if you can’t pay your credit card bill).
Well, it appears that ‘unsecured’ doesn’t mean what it used to.
Save & Share
Spam? Topple this!

Comments
Want to leave a comment on this story? Login or join Tip'd to comment.