SECURED
Secured debt is usually when you borrow money to buy an asset. If you don't pay your monthly repayment, then you risk losing your asset.
Examples of secured debt are:-
·         Bond/Mortgage payments
·         Monthly Vehicle payments
·         Income tax and VAT
·         Fuel payments e.g. electricity account
·         Traffic and motoring fines
·         Maintenance payments e.g. municipal rates, child support