That is there is no collateral behind the debt unlike a car loan or a mortgage. Remember that when a collection agency calls and gets' tough' on you.
[header] How to beat a collection agency at their own game [title] Know that you do not have to talk to them. [step] Think of those nasty collection agencies as little barking dogs: noisy and nothing to be afraid of. The reason they are calling is to get money out of you the debtor because it is unsecured.