Secured Debt FAQs

Debt Solution

What Is The Difference Between Secured and Unsecured Debt?

When taking out a finance agreement, there is often a choice as to whether you would like the debt to be secured or unsecured. Read on to find out what the difference is. Secured Debt   A secured debt can fall into two main categories:   The first involves the borrower  putting forward an asset …

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Hire Purchase 3

Is a Car Secured Debt?

Car loans can be secured or unsecured depending on the nature of the loan you take out. A Hire Purchase agreement is a common method for buying a car. This agreement is secured against the car, since you will not legally own the vehicle until all payments are made. So, if you fail to make …

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