SECURED VS. COLLATERAL-FREE LOANS: UNDERSTANDING THE DIFFERENCE

When seeking a loan, one of the most crucial determinants is whether it's protected or unguaranteed. A secured loan necessitates collateral, which is an asset the lender can take possession of if you fail to repay on the financing. This collateral acts as security for the lender, transforming secured loans less hazardous. Conversely, an collateral-