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In personal finance, a guarantor loan is a type of unsecured loan that requires a guarantor to co-sign the credit agreement. A guarantor is a person who agrees to repay the borrower’s debt should the borrower default on agreed repayments.
Unsecured debts are sometimes called signature debt or personal loans. [2] These differ from secured debt such as a mortgage , which is backed by a piece of real estate. In the event of the bankruptcy of the borrower, the unsecured creditors have a general claim on the assets of the borrower after the specific pledged assets have been assigned ...
Non-Standard Finance plc (NSF) is a UK-based consumer finance company that provides home credit under the brands Loans at Home and Everyday Loans. Loans at Home is the UK's third-largest provider of home credit (home-collected personal loans), and of Everyday Loans, a branch-based provider of unsecured consumer loans. [3] [4]
Secured personal loans are often available at credit unions or community banks and may be easier to qualify for than an unsecured loan, because your lender can take the asset if you default on the ...
Unsecured loans are debt products that do not require collateral but may come with higher interest rates and stricter credit requirements. There are various unsecured loans, including personal ...
In fact, many personal loans are unsecured. This means that lenders base approval on your credit score — not an asset. Secured loans, such as car loans or mortgages, are backed by collateral.
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