What is it like to work with SRMC? Let us explain! Once your debt agreement is lodged, your creditors will vote on acceptance of your debt agreement. Once accepted, you will be assigned to a client manager, who will be your point of contact to handle all of your payments, questions, and requests, and they also deal with unsecured creditors on your behalf. Note that you may still be contacted directly by secured creditors.
o What is the difference between a secured creditor and an unsecured creditor? Well, it’s similar to the difference between a secured debt and an unsecured debt. A secured debt is a debt that is backed by collateral, a physical asset that can be repossessed in the event of a default and sold to repay the balance of the debt. Conversely, unsecured debt is not tied to collateral. Common types of unsecured debt include credit cards, payday loans and personal loans.