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Can Anyone Explain The Difference Between Secured Loans And Unsecured Loans

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leojack | 08:32 Wed 23rd Oct 2019 | Business & Finance
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Which one is best to choose, Secured or unsecured loans?
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Secured means you have something that the loan company can take off you if you don’t make the repayments, usually a house or a business. Unsecured means they trust you to repay. Secured are usually cheaper as less risky for the lender. There are also guarantor loans where the loan is secured by someone else who will be required to make the payments if you can’t
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Depends on whether you're planning to default or not.
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