In this video, we explore what unsecured debt is, its approval process, as well as some real life examples. Listen and watch to learn more!
What is Unsecured Debt?
Unsecured debt is a loan or form of credit that does not utilize collateral as an additional form of payment. As a result of not including the aforementioned collateral, unsecured debt is usually regarded as a higher-risk loan for lenders, therefore including higher interest rates.
