Secured debt uses an asset as collateral to secure the loan, while unsecured debt doesn’t require any collateral. If a ...

While unsecured debt isn’t backed by collateral, secured debt is backed by an asset, such as a house (for a mortgage) or a car (for an auto loan). Unsecured debt tends to carry higher interest ...

A method of financing in which a company receives a loan and gives its promise to repay the loan Debt financing includes both secured and unsecured loans. Security involves a form of collateral as ...

Secured debt uses an asset as collateral to secure the loan, while unsecured debt doesn’t require any collateral. If a borrower fails to repay the loan as agreed, the lender can seize the ...

If you're trying to dig yourself out of debt or you're about to take a loan, you'll want to know the difference between secured and unsecured debts to create a well-laid-out repayment plan.