A Clear Path to Financial Recovery.

Secured debt is backed by collateral (like a house or car), which the lender can seize if you default. Unsecured debt (like credit cards or medical bills) has no collateral, typically resulting in higher interest rates to offset the lender's risk.

Generally, prioritize high-interest debt (credit cards, personal loans) before aggressive long-term saving. For low-interest debt (like some mortgages or student loans), you may want to simultaneously save for long-term goals while making regular debt payments.

Scholarships and grants used for qualified education expenses (tuition, fees, books, supplies) are not taxable. Amounts used for room, board, and other non-qualified expenses may be taxable.

A deductible is the amount you must pay out-of-pocket for covered medical services before your insurance plan begins to pay. For example, with a $1,500 deductible, you pay the first $1,500 of covered services.