Secured Loan

Written By Melissa Cook
Jan 5, 2023
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A secured loan is a type of loan that is backed by collateral, which is an asset that the borrower pledges as security for the loan. This collateral serves as a guarantee for the lender that they will be able to recover their funds if the borrower defaults on the loan.

There are many different types of assets that can be used as collateral for a secured loan, including real estate, vehicles, savings accounts, and even stocks and bonds. The value of the collateral is typically equal to or greater than the amount of the loan, so the lender has a cushion in case the borrower is unable to pay back the loan.

Secured loans are generally considered to be less risky for the lender, since they have the collateral to fall back on if the borrower defaults. As a result, secured loans often have lower interest rates and more flexible repayment terms than unsecured loans.

However, it is important for borrowers to understand that if they default on a secured loan, the lender has the right to seize the collateral in order to recover their funds. This means that if the borrower pledges their home as collateral for a secured loan, they could lose their home if they fail to make their loan payments.

There are many different types of secured loans, including mortgages, auto loans, and home equity loans. Each type of secured loan has its own specific terms and requirements, so it is important for borrowers to carefully consider their options and choose the loan that is right for them.

Overall, a secured loan is a financial product that allows borrowers to access funds by pledging an asset as collateral. While it can be a useful tool for borrowers who need to borrow money but may not have a strong credit history or collateral, it is important to understand the risks and responsibilities associated with this type of loan.

For more information on loans or help with paying off a loan, speak with an Americor professional today.


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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

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