have anyone out there ever used collateral to eliminate debt! is this a good move? what goes on the credit ?

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repo, bad debt, need some answers.

I guess I'm not really understanding your question. Are you wanting collateral for a loan to pay off debt? If that's the case, then, YES, I've done this.
The payments or non-payment of the loan would go on the credit report. Other than that, I haven't any idea how to answer you.

2 Comments

  1. catzrme says:

    I guess I'm not really understanding your question. Are you wanting collateral for a loan to pay off debt? If that's the case, then, YES, I've done this.
    The payments or non-payment of the loan would go on the credit report. Other than that, I haven't any idea how to answer you.
    References :

  2. Ask M says:

    you need to be a little more specific, I used my car as collateral and then was laid off, I lost my car.

    Luckily I'm debt free after 5 years and don't have to use
    collateral anymore.

    http://www.creditinfocenter.com
    References :

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