Payton Myers

When we look for our finances, we often consider the FICO credit score system and how our score will influence our financial lives. We think about what happens when things fall off credit report and how we are viewed due to our credit reports. FICO created the FICO...

A secured loan is another kind of loan entirely. With a secured loan, you pledge some assets as collateral for the loan. This way, if you do not pay off the loan, the lender can sell the asset you offered as collateral to pay off the loan.