COLLATERALISED VS. UNGUARANTEED LOANS: GRASPING THE DIFFERENCE

When seeking a loan, one of the most crucial determinants is whether it's secured or collateral-free. A collateralised loan demands collateral, which is an asset the lender can take possession of if you default on the debt. This collateral acts as assurance for the lender, making secured loans less risky. Conversely, an unsecured loan doesn't this