Identify and discuss various types of secured and unsecured credit.© BrainMass Inc. brainmass.com June 3, 2020, 7:33 pm ad1c9bdddf
Secured credit is a loan or extension of credit that is secured with collateral of some type (car loans and mortgages for example, or even secured credit cards). Collateral can be cash or the item you have a loan for itself. In other words, if you don't meet your payment obligations, the item securing the loan or extension of credit can be foreclosed on or ...
The expert identifies and discuss various types of secured and unsecured credit.