A collateral loan is a secured loan that requires the borrower to provide an asset as security for repayment. With these loans, a lender can take possession of your property—the loan collateral—if you ...

What’s the Difference?

Kennedy Edgerton is a personal finance editor, leveraging his passion for writing and personal finance to produce stimulating content that empowers readers to enhance their lives through advised ...

Discover how unsecured loans work, why they're riskier than secured loans, and common examples like credit cards. Learn about potential costs and repayment challenges.

Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending ...

2023 has been challenging for the banking sector as the economy moves past COVID-related issues and financial stimulus unwinds. Ally Financial has high exposure to the auto market, making it ...