Business, 11.10.2019 01:00, jaden120

Which describes the difference between secured and unsecured credit?
- secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.
- unsecured credit is backed by an asset equal to the value of a loan, while secured credit is not guaranteed by a material object.
- secured credit is risky because banks cannot seize assets, while unsecured

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Answers

The correct answer is: Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.

Explanation:

Unsecured loans

When you take an unsecured loan, you are receiving a money loan based on qualifying with the financial institution and they believe that you will be able to repay them properly. They look at your history of repayment of fast loans and other forms of debt through your credit report and current income statements, and make the decision there. They will expect you to continue your payments as promised, and make sure that you understand the consequences if you cannot pay your loan as promised.

Fast loans guaranteed

If you are considering taking fast secured loans, this means that you are putting a lien against something you own directly as a way to show your promise to pay the money as promised. This type of loan is similar to a title loan in a owned car or a credit card where you put the money in the card before passing it.

While this is not ideal for most people with a less than stellar credit history, it helps rebuild the credit and helps build trust with the fast lending institution that gave the secured loan, such as the difference between loans Fast and microcredits online. You will still have to qualify under the specific requirements for the institution, but the qualifiers are often different for fast secured loans.

answered: Merlinemicheli4727

A. Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.

Explanation:

ED2020

answered: Guest

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answered: Guest

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Which describes the difference between secured and unsecured credit?
- secured credit is bac...