---
title: "2 Secured Debt Quotes By Jean Chatzky"
description: "2 Secured Debt quotes by Jean Chatzky. Plus more from Jean Chatzky and more Secured Debt sayings from other authors."
image: "https://sms4smile.com/quotes/i/e87/jean-chatzky-15313_assets_when-you-default-on-a-secured-debt-the-c_1125193.png"
---

> [When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.](https://sms4smile.com/quotes/jean-chatzky/when-you-default-on-a-secured-debt-the-creditor-takes-the-asset-that/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

[Image](https://sms4smile.com/quotes/i/e87/jean-chatzky-15313_assets_when-you-default-on-a-secured-debt-the-c_1125193.png)

> [ You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC \[ home equity line of credit \] - you're taking an unsecured debt and turning it… ](https://sms4smile.com/quotes/jean-chatzky/you-also-need-to-understand-that-when-you-consolidate-credit-card/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

[Image](https://sms4smile.com/quotes/i/e84/jean-chatzky-15313_cards_you-also-need-to-understand-that-when-yo_1363945.jpg)

## More by Jean Chatzky

> [It's not about having it all. It's about having what you value most.](https://sms4smile.com/quotes/jean-chatzky/it-s-not-about-having-it-all-it-s-about-having-what-you-value-most/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [Get your friends involved. Let your shopping buddies know that you're on a tight budget, and they can help you out when your willpower…](https://sms4smile.com/quotes/jean-chatzky/get-your-friends-involved-let-your-shopping-buddies-know-that-you-re/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [You must be sure - and I mean absolutely positive - that you have the willpower to pay off those credit cards and not…](https://sms4smile.com/quotes/jean-chatzky/you-must-be-sure-and-i-mean-absolutely-positive-that-you-have-the/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [A little personality goes a long way.](https://sms4smile.com/quotes/jean-chatzky/a-little-personality-goes-a-long-way/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [The Bankruptcy Reform Act of 2005 made it harder for individuals to file bankruptcy, which is always the last resort. Unfortunately, simultaneously consumers racked…](https://sms4smile.com/quotes/jean-chatzky/the-bankruptcy-reform-act-of-2005-made-it-harder-for-individuals-to/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [Save for your goals. Take note of what's coming your way - vacations, the holidays, what ever is going to cost you money -…](https://sms4smile.com/quotes/jean-chatzky/save-for-your-goals-take-note-of-what-s-coming-your-way-vacations-the/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [Turn down offers for new cards or credit line increases on your current cards. Credit's tight, and chances are, you're not getting many offers…](https://sms4smile.com/quotes/jean-chatzky/turn-down-offers-for-new-cards-or-credit-line-increases-on-your/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to…](https://sms4smile.com/quotes/jean-chatzky/when-you-default-on-a-secured-debt-the-creditor-takes-the-asset-that/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan…](https://sms4smile.com/quotes/jean-chatzky/a-consolidation-makes-sense-only-if-you-can-lower-your-overall/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [Sometimes a creditor is willingto do this as a bargaining point - you give the creditor cash in hand, it gives you a positive…](https://sms4smile.com/quotes/jean-chatzky/sometimes-a-creditor-is-willingto-do-this-as-a-bargaining-point-you/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [Debt settlement companies work as a middleman between you and your creditor. If all goes well (and that's a big if), you should be…](https://sms4smile.com/quotes/jean-chatzky/debt-settlement-companies-work-as-a-middleman-between-you-and-your/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC…](https://sms4smile.com/quotes/jean-chatzky/you-also-need-to-understand-that-when-you-consolidate-credit-card/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [If you'd asked me a few years ago about debt settlement companies, I probably would have told you to avoid them.](https://sms4smile.com/quotes/jean-chatzky/if-you-d-asked-me-a-few-years-ago-about-debt-settlement-companies-i/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [If you are, consolidating at a lower interest rate can help you pay off your debt faster. But if there's even a small chance…](https://sms4smile.com/quotes/jean-chatzky/if-you-are-consolidating-at-a-lower-interest-rate-can-help-you-pay/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

> [You won't be caught off guard and you won't feel guilty, because you'll be spending money that you've allocated for the occasion.](https://sms4smile.com/quotes/jean-chatzky/you-won-t-be-caught-off-guard-and-you-won-t-feel-guilty-because-you/)

[Jean Chatzky](https://sms4smile.com/quotes/author/jean-chatzky/)

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