Bad credit loans glossary


Glossary Bad credit loan ・is a type of loan given to borrowers who has bad credit.
Collateral ・a property or valuable object that is given as a security to a loan or other credit. Collateral may be subject to seizure upon default.
Credit Score ・a method used in assessing an applicant's or borrower's credit worthiness.
Interest rate ・It is a percentage charged the use of a sum of money over a period of time.
Non-secured bad credit loan - type of bad credit loan wherein no collateral is pledged.
Secured bad credit loan ・a type of bad credit loan where collateral is offered.

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