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EspañolUNSECURED LOAN
'Unsecured loans', are monetary loans that are not secured against the borrowers assets.
In 2002, the average American households with only one credit card had $9,000 in debt. [1] Credit card bills are meant to be repaid within a month; when they are not the balance to be paid is considered debt and the consumer is charged interest by the company issuing the card.
When a customer withdraws more money than is in their bank account, the money owed to the bank is called a bank overdraft.
Many financial institutions offer personal unsecured loans to individuals needing quick cash for major purchases, emergency health bills, etc. [2]
1. "The truth about credit card debt", MSN Money Central
2. "Guaranty Bank", Personal (Unsecured) Loans
★ Asset
| Contents |
| Credit card debt |
| Bank overdrafts |
| Personal Loans |
| References |
| See also |
Credit card debt
In 2002, the average American households with only one credit card had $9,000 in debt. [1] Credit card bills are meant to be repaid within a month; when they are not the balance to be paid is considered debt and the consumer is charged interest by the company issuing the card.
Bank overdrafts
When a customer withdraws more money than is in their bank account, the money owed to the bank is called a bank overdraft.
Personal Loans
Many financial institutions offer personal unsecured loans to individuals needing quick cash for major purchases, emergency health bills, etc. [2]
References
1. "The truth about credit card debt", MSN Money Central
2. "Guaranty Bank", Personal (Unsecured) Loans
See also
★ Asset
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