Secured and unsecured credit | Loans and debt | Financial Literacy | Khan Academy

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https://www.khanacademy.org/college-careers-more/financial-literacy/xa6995ea67a8e9fdd:loans-and-debt/xa6995ea67a8e9fdd:types-of-loans/v/secured-and-unsecured-credit

When you borrow money, it can either be secured or unsecured. Secured debt is like a pawn shop exchange--you give something valuable as a promise to repay, while unsecured is like a handshake deal--it's based on trust and your history of paying back loans.

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