Unsecured loan

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Unsecured loans, are monetary loans that are not secured against the borrowers assets.

Contents 1 Credit card debt 2 Bank overdrafts 3 See also 4 References

[edit] Credit card debt

This article or section deals primarily with the United States and does not represent a worldwide view of the subject. Please improve this article or discuss the issue on the talk page.

In 2002, the average American households with only one credit card had $9,000 in debt. ^[1] Credit card bills are meant to be repaid within a month; when they are not the balance to be paid is considered debt and the consumer is charged interest by the company issuing the card.

[edit] Bank overdrafts

When a customer withdraws more money than is in their bank account, the money owed to the bank is called a bank overdraft.

[edit] See also

• Asset
• Secured loan

[edit] References