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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 ...
Secured vs. unsecured loans. The vast majority of personal loans are unsecured — which means they don’t require any collateral. You apply for the loan, and the lender reviews your application ...
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 ...
Later that year, the bank sold its consumer lending business Everyday Loans, reducing its position in UK's unsecured personal loan market. [7] In January 2021, Secure Trust Bank announced that CEO Paul Lynam would be stepping down with immediate effect, to be replaced by David McCreadie, a former Managing Director at Tesco Bank. [8]
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]
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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