An unsecured loan is financing that is not backed with collateral. Credit cards and personal loans are common examples of unsecured loans. Because the lender does not require the borrower to put up property as collateral... More »

An unsecured installment loan is financing not secured by a borrower's property that the borrower repays in monthly installments. Often referred to as personal loans, borrowers use installment loans for an array of purpo... More »

If a credit user defaults on an unsecured loans, he opens himself up to collectors who have a financial stake in collecting the debt according to Collection agencies are skilled at pressuring people to repay th... More »

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A home equity line of credit, or HELOC, is a loan taken out that uses a person's home equity as collateral. Contrary to a traditional loan where funds are disbursed all at once, a HELOC has a draw period during which fun... More »

A title loan is a loan where collateral in the form of assets is required as a guarantee. As of 2014, a title loan request in the United States does not consider the credit rating of an applicant. Title loans are typical... More »

In California, when a borrower finishes paying off a home loan, the trustee files the deed of reconveyance to record full repayment of the loan, clearing the title to the property, which was held as collateral, and turni... More »

The UCC Financial Statement is used to guarantee any collateral the borrower is offering up in exchange for a loan or other business arrangement goes to the lender if the loan defaults, according to the Legal Information... More »