Whats the difference between an unsecured, and secured personal loan?

Answers:0   |   LastUpdateAt:2012-11-04 16:56:02  

Question
Amara.P
Asked at 2012-09-26 03:03:05
On the other hand , say for example a loan of $ 20,000 over three years to an interest rate of 12.5 % , but pay off the loan in two years , will I be charged the interest of three years or two years ? MedlinePlus MedlinePlus Thanks in advance to anyone who answers !
Answer1CarterAnswered at 2012-11-04 16:55:29
A secured loan is back by an asset so the lender has more protection.

Unsecured is a flat out loan with no collateral incase you default.

Typically people with bad credit need to get secured loans...
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