When talking about a credit report from Equifax, what is a secured loan?

A secure loan is also when you have collateral such as borrowing against a car or using personal property to secure the loan.

When talking about a credit report from Equifax, what is a secured loan?

I believe a secure loan is a loan you gave some security in order to secure. Example a down payment on a car loan.

When talking about a credit report from Equifax, what is a secured loan?

A secured loan is when you put something up as security that the lender can sell if you don%26#039;t pay when you%26#039;re supposed to. Two common examples are a mortgage and pawning something, but it can be a lot of things. Often it%26#039;s the thing you bought. If you don%26#039;t make your payments on your cement mixer, they repossess it, sell it for whatever they can get, and you%26#039;re still likely to owe them money. It%26#039;s possible, but not likely that they will sell the cement mixer for more than you owed, in which case they have to refund you the difference, minus the expenses they incurred repossessing and selling it.

When talking about a credit report from Equifax, what is a secured loan?

A secured loan is a loan where there is collateral pledged. A signature or personal loan is one where there is no collateral, just the good credit of the borrower securing repayment.

When talking about a credit report from Equifax, what is a secured loan?

A Secured loan is a simple loan that you get in credit terms, when you credit is not strong enought them you has to give something to secured the loan in exchange of the money, in order to get the loan, for example you asking you bank for $3000.00 a loan the bank run your credit, Equifax, Experian and Transunion look at the average of the three scores, or some bank just run one credit report like Equifax, they think your score is poor or you credit history is not satisfactory or simple you don%26#039;t have history them they denied the unsecured loan and they offer a secured loan where any values you own will serve the purpose like a car tittle or jewelry or cumputer ownership, them if you accepted the loan will be reported to all the credit agencies as a secured loan which mean you credit was not strong enought to give you a unsecured loan and this credit companies will not give you excellentes reviews or persaid points, until you prove you can paid them they will score you credit higher in the next loan. Good luck.