Debt relief typically covers various types of unsecured debt. Unsecured debts are those not tied to collateral or assets that creditors can seize if you fail to make payments.
Credit Card Debts. Debt relief programs often assist individuals struggling with credit card balances, including high-interest credit card debt.
Personal Loans. Unsecured personal loans, such as those used for medical expenses, travel, or debt consolidation, can be eligible for debt relief.
Medical Bills. Medical debt is a significant source of financial burden, and debt relief programs may help individuals manage and reduce these obligations.
Payday Loans. High-interest payday loans can be particularly challenging to repay, and debt relief can provide assistance in resolving these debts.
Retail Store Credit Cards. Debt relief can cover retail store credit card debt, which may carry high interest rates.
Utility Bills. In some cases, debt relief programs can assist individuals facing utility bill arrears.
Unsecured Business Debts. Small business owners with unsecured debts related to their business operations may also seek debt relief.
It's important to note that secured debts, such as mortgages and auto loans, are typically not covered by traditional debt relief programs. Additionally, student loans are a unique category of debt. While some student loans are considered unsecured, they often have specific repayment and forgiveness options separate from traditional debt relief programs.