What are the different types of loans?

  • Thread starter Thread starter Akintunde A
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Akintunde A

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I am recently lost my job (not laid off) and I am in need of a loan until I am able to find future employment. I have good credit and need a loan in the amount of $1500. What is an unsecured loan? What is collateral? Any advice or resources?
 
Unsecured loan is like your credit card and your mortgage or auto loan has collateral ( home or car) Other types of collateral loans would be at a pawn shop but not very good rates. Keep working to curtail expenses till you get a new job and watch how much you get take out in a loan.
 
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