UGotiate can help you organize, track and resolve your debts. UGotiate can only be used to manage your Unsecured Debt. Unsecured debt is not tied to an asset and is backed only by the reputation or credit record of the consumer. This means, you can list debts like: your credit cards, store charge cards, unsecured loans and even your medical bills with UGotiate.
Secured Debt can not be managed through UGotiate. Secured debt is one which the debtor has pledged some asset (usually a car or property) as collateral for the loan. The debt is secured against the collateral. If the borrower ever stops paying on the debt, the creditor will typically take the collateral and may sell it and apply the proceeds of the sale to amount owed on the debt. If you are struggling with your secured loans, it is best to contact the lender as soon as possible to discuss your case and to see what options are available to you. Remember - secured debt should almost always be paid before and unsecured debt. (i.e. – you should always pay your mortgage first, then your credit cards!)
Government backed student loans and IRS debts are government debts and cannot be managed through UGotiate. It is recommended to work out a payment plan directly with your student loan company or the IRS to resolve these accounts