Re: debt consolidation, bankruptcy or loans

Posted by Filer on October 17, 2001 at 13:22:17:

In Reply to: debt consolidation, bankruptcy or loans posted by bill on August 30, 2001 at 16:47:34:

NEVER!! EVER!! trade unsecured debt for secured debt. Unsecured debt is dischargeable under bankruptcy law. If you take out a loan against your home to pay off your credit cards/medical bills or other unsecured debt you run the risk of losing your home if you can't make that loan payment. NEVER!! EVER!! trade unsecured debt for secured debt!! NEVER!!!!!!!!!!!!

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