• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Apply Now
    • Qualifications
    • Is This Right For Me?
  • Proven Results
    • Debt Relief Benefits
    • Credit Card Debt Relief
  • Debt Relief
  • Credit Card Debt Relief
  • Debt Consolidation
  • Login
Video Transcript

Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

Types Of Debt

loans, calculator and penKnowing the different types of debt is important if you want to be able to strategically pay them off. They have varying needs and qualities that you need to understand so you can deal with them specifically.

Debts are defined under two different classifications. One classification involved being either a secured or unsecured debt. The other classification involves a debt being revolving or non-revolving.

Secured vs Unsecured

In a separate page on this website, we discussed the difference between a secured and unsecured type of debt. To know more about them, visit the Personal Loans page. For this article, we will be concentrating on the other type of classification.

To give you a brief summary, a secured loan is characterized by the need for collateral. This provides the lender the security that the borrower will pay them – lest they risk losing the collateral placed on the line. On the other hand, an unsecured loan is characterized by the absence of collateral. The security of the lender is placed upon the high interest rate that the borrower has to pay for on top of the principal loan amount.

This type of debt classification is done through the analysis of loan requirements.

Revolving vs Non-Revolving

Another way of classifying debts is by the looking at the payment methods. You can tell if a loan is a revolving or a non-revolving debt by how it is paid every month.

A revolving debt does not have a fixed amount of payment every month. The changes are based on the actual balance of the loan. A perfect example is a credit card debt. You could be paying more for this month than the previous one especially if you used your card for a purchase. The same is true for the computation of the interest rate. It is dependent on the total outstanding balance of the bill. This debt can also be used repeatedly without the need for a new application every time you decide to use it.

On the other hand, a non-revolving debt is a type of loan that has a fixed payment. Regardless of how high the interest rate index goes, your payment will remain the same. A perfect example is a mortgage loan. Unless you have taken a loan that involves balloon payment or something similar, your monthly amortization and the interest rate associated with it remains the same. Also, this type of debt can only be used once. If you need more financial aid, you need to apply for a new one and wait for approval.

A revolving debt is actually more dangerous than a non-revolving one because it has the more potential to grow. For instance, if a credit card user pays only for the minimum payment requirement while continually using the card could find themselves deep in debt. If you have a revolving debt, you need to pay for it in higher increments to get rid of the debt immediately.
apply now for debt relief help
A lot of people who find themselves deep in debt are those who have a lot of revolving debts. If this sounds like something that you are experiencing, NationalDebtRelief.com is here to help you. Give us a call through our toll free numbers or chat with us. We can help you find a solution to get out of your debt and achieve financial freedom. You can also fill up the short form on this page and we will have someone get in touch with you. Don’t worry about the initial consultation – it’s free!

Do you qualify for debt consolidation?

Primary Sidebar

Consolidate Your Debt!

Find out how NDR could help.
  • Get one low monthly payment
  • Avoid bankruptcy
  • Get out of debt in 24-48 months
Get Your Free evaluation

Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
 Trusted By Our Clients

"..."

Easy National Debt Relief Caller: Austin Transcribed WE 1/17/2021 Austin: Our call may be recorded. What led you to National Debt Relief and why did you choose National Debt Relief over a different company? CARA: Honestly, it was just kind of on a whim. I just saw a commercial, I think, and then looked it up. And we were just tired of living paycheck to paycheck and not feeling like we were getting anywhere with our debt. Austin: What were your thoughts and was wondering as far as like the enrollment process, what process or where are you at this point in the process? CARA: We are almost done. Well, they've paid off almost everything or we've paid off almost everything. We're working on our last credit card. So I think our last payment will be in December, so nearing the end. Austin: Do you remember the name of the negotiator? I'm sure you've probably worked with a couple of people, but what's the name of the negotiator that you worked with? CARA: Well, I didn't really, I guess really work one on one with like one negotiator. I don't think. We just got email saying, "This is where we're at with this. Do you agree?" you know, type situation. Austin: Do you feel that there's anything that maybe the negotiator did well or anything that they could have improved? CARA: No, I don't think so. Nope, I don't think so. We've been happy with everything so far. Austin: Have you seen any positive impacts from working with National Debt Relief, just to kind of notice any changes to your life? CARA: I mean, definitely less stress, and then we've just been able to be better about our spending and our budget and everything. It helped get us on track. Austin: How would you rate your experience with National Debt Relief on a scale of one to five, where five means you would recommend to friends and one means very dissatisfied? CARA: I'd say 5. Austin: Would it be okay if we shared your comments as a review on our public site with a first name and city only, they're for National Debt Relief and to help other consumers make good choices? CARA: Probably not. I live in a smaller area. If anybody were to hop on and say Cara from Beddington, they would probably know. Austin: We can definitely remove that 'cause we very much respect your privacy. So we can either remove the name and just do a ‘C’ or completely remove the city and just do like ‘Cara from the USA’ whatever -- mainly comments than identifying you, I guess would be important. CARA: Yeah, I don't care if you use like my name and just put USA. I just don't -- where I live, it's not a very big area. Austin: I can totally respect that. Not a problem at all. CARA: Yes, we are a little bit of ashamed of having to go this route, but it was what was best for our family at the time. Austin: Would you like us to email you a link to that review whenever it's published? CARA: Yeah, that'd be great. Austin: Our call may have been recorded.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Cara Waterman
ConsumerAffairs Reviews
National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Consumers Advocate Trust Pilot
Company
  • About Us
  • Contact Us
  • Blog
  • Careers
  • Corporate
  • Privacy Policies
  • Terms Of Site
  • Disclaimer
  • Sitemap
Products
  • Debt Relief
  • Credit Card Debt Relief
  • Debt Consolidation
  • Debt Settlement
  • Calculators
  • FAQs
Debt Resources
  • Credit Card Debt
  • Medical Debt
  • Personal Loan Debt
  • Unemployment
  • Divorce Debt
  • Retiree Debt
  • Veteran Debt
  • Business Debt
  • Personal Finance
Follow Us
  • Facebook
  • Twitter
  • Linkedin
  • Instagram
  • Pinterest

© 2021, National Debt Relief, All Rights Reserved.

Disclaimer
Disclaimer
Disclaimer