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Secured Debt Defined Secured debts are typically debts which have collateral attached to them in the form of a lien. A lien is a monetary claim against a property to be satisfied before full ownership can take place. An example would be a Loan on your house. The mortgage company owns the house until you have satisfied the lien (mortgage) by paying off the amount you owe to them. Examples of Secured Debts are: • Mortgages (1st, 2nd & HELOC) • Car Loans • Bank Personal Loans tied to a house, car, or other valuables. • IRS Tax Liens (usually tied to a house or established as a garnishment of wages) Typically secured debts are not negotiable in any way, shape or form. Really the only way to satisfy a secured debt is to pay it off or get another loan with a lower rate to pay it off.