Secured Debt

Secured debt is a form of debt that is secured against an asset or collateral. This means that if the borrower fails to repay the loan, the lender has the right to take possession of the asset used as collateral in order to recoup their losses. Examples of assets used as collateral for secured loans include real estate, vehicles, or large personal items such as jewelry or artwork. The value of the collateral must exceed the amount of money borrowed in order for it to be considered a secured loan.

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