What are the opposite words for unsecured debt?
Secured debt is the antonym for unsecured debt. A secured debt is a loan that is backed by collateral, such as a house or a car. In contrast, an unsecured debt is not backed by any collateral, and the lender relies solely on the borrower's creditworthiness to repay the loan. Unlike unsecured debt, secured debt typically has lower interest rates, longer repayment periods, and higher borrowing limits. Common examples of secured debt include home mortgages, car loans, and business loans. While secured debt provides borrowers with more favorable terms, it also puts their assets at risk if they fail to repay the loan.
What are the antonyms for Unsecured debt?
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