Secured Loan

A secured loan is a loan which the borrower undertakes some asset (eg a car or property) as collateral for the loan, then a secured claim of the creditor who gives the loan. The debt is thus secured against the collateral - in the event that the borrower, the creditor's possession of the assets is used as collateral and sell it can to some or all of the awarded initially for the borrower to recover, for example, by excluding a home . From the creditors' perspective, this is a category of debt that allowed a creditor to whom a portion of the bundle of rights to specific property has.When the sale of the securities rises not enough money to pay off the debt, the creditor can often obtain a deficiency Judgement against the debtor for the balance. The opposite of secured debt / loan is unsecured debt that is not a specific plot of land connected to, and instead the creditor may satisfy only the claim against the borrower as collateral the borrower and the borrower.