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

1. 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. 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 :