Secured & Unsecured debt

............ a debt that is backed by any collateral

• Secured

• Unsecured

• All Loans

• Credit unions

............ a debt that is not guaranteed or baked by any collateral

• Secured

• Unsecured

• Mortgage

• Commercial Banks

............. is an example of secured loan

• Personal loan

• Master cared

• Visa card

• Mortgage

................ is an example of unsecured loan debt

• Mortgage

• Car loan

• Personal loan

• Land Installments

In case of default of secured debt, the bank will

• Keep the property or collateral

• Will take the property or collateral

• Will wait for payment

• Sue the borrower directly