Chosen by Asker

Unsecured doesn't require collateral. For instance a secured credit card means you have to have money sitting in an account.so if you don't pay, they will take it.

by JamesW

1 month ago

Asker's Rating: 

getting ur land document & giving loan is secured loan giving loans to you with only signs on papers is unsecured loan

by yp- 1 month ago

car loan and mortgages are secured loans - they are secured by teh physical asset credit cards are unsecured

by Doctor Deth- 1 month ago

A secured debt is a debt in which the creditor maintains a security interest in an item or piece of personal property such as a house or an automobile. With secured debts, if you fall behind on payments, the lender can repossess the property that originally secured the debt. Unsecured debt is debt in which you borrow from a creditor to obtain goods or services on credit in exchange for your promise to repay the debt. The primary difference between secured and unsecured debt is that unsecured debt is not collateralized by personal property.

by Additi- 1 month ago