Protected vs. Collateral-free Loans: Understanding the Difference
When requiring a loan, one of the most crucial factors is whether it's collateralised or unguaranteed. A secured loan requires collateral, which is an asset the lender can take possession of if you fail to repay on the loan. This collateral acts as security for the lender, transforming secured loans less hazardous. Conversely, an unsecured loan lac