Have you heard of a secured loan before? It is a loan that uses an asset as collateral. This means the lender can take the asset you nominate if you can’t repay the loan. If you face a lot of credit card debt after the holidays, a secured loan can be a good way to consolidate the debt into one easy repayment. Secured loans may allow borrowers to enjoy lower interest rates, presenting a lower risk to lenders.
Read More