What’s a title loan?
A name loan is the term useful for a secured loan in that your debtor or borrowers pledge the name of a valuable asset as collateral. In layman’s terms: you (the borrower) obtain a sum of income (loan) from the loan provider which you consent to repay over an agreed upon duration. As a swap, you promise a secured asset (your house, car, bike or ship, for instance) into the loan provider in the event that you don’t back pay the loan based on the terms. Read more “Does paying down a name loan create your credit?”