2007-03-02 11:00:02 · 3 answers · asked by Carlos R 1 in Business & Finance ➔ Other - Business & Finance
It means that you have collateral for the loan IE: auto, home are the most common, unsecured debt would be a signature loan or a credit card..
2007-03-02 11:09:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It means you are putting something up of value to support the loan, for instance when you buy a home the house is the security for the home. in a car loan, the car is the security for the loan, an unsecured loan means a credit card
2007-03-02 19:06:12 · answer #2 · answered by katie d 6 · 2⤊ 1⤋
it means that you own something worth the amount you are borrowing and if you don't make your payments on your debt, they will come and take the thing you own that you put up as collateral (secured) to get the loan
2007-03-02 19:08:45 · answer #3 · answered by CC Babydoll 6 · 0⤊ 0⤋