Legal Question in Credit and Debt Law in Texas

differences between secure loan and an unsecured loan


Asked on 3/03/11, 4:56 pm

1 Answer from Attorneys
Greg Wiley Law Office of Greg Wiley PLLC

Secured loans attach to property. Typically, it is mortgages on homes or car notes. The lender can then repossess the car or foreclose the property. An unsecured note has no underlying collateral for a lender to repossess.

Best of Luck

Greg

www.dallas-fortworth-bankruptcy.com

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Answered on 8/11/11, 2:28 pm


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