Secured debt uses an asset as collateral to secure the loan, while unsecured debt doesn’t require any collateral. If a borrower fails to repay the loan as agreed, the lender can seize the collateral.

Unsecured debt doesn’t require you to offer collateral, such as a vehicle or a home, to secure the loan. Because unsecured debt is riskier for lenders, interest rates are typically higher, and ...

Learn how unsecured personal loans can provide funding for you.

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Unsecured debt is a form of borrowing that is not secured by a specific material asset. Since this type of debt doesn’t require an asset as collateral, there’s nothing specific the lender will take ...

At some point in your life, you will likely need to borrow money. When you do, it will be in one of two forms: secured or unsecured. Unsecured debt is a common form of borrowing that includes ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Find my match Could your debt be reduced or forgiven? Take our financial relief quiz. When used wisely, debt can be a stepping ...