PROTECTED VS. UNGUARANTEED LOANS: GRASPING THE DIFFERENCE

When applying for a loan, one of the most crucial factors is whether it's protected or unsecured. A protected loan requires collateral, which is an asset the lender can take possession of if you fail to repay on the financing. This collateral acts as assurance for the lender, making secured loans less hazardous. Conversely, an collateral-free loan