Credit Corp

MARCH 7, 2021

When talking about the concept of online personal loans, it’s important to touch on the differences between secured and unsecured loans: Secured loans are those where collateral is put up to secure the loan. For instance, a home would act as collateral in a mortgage or home equity line of credit (HELOC).

Personal loans 98

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Collection Industry News

APRIL 24, 2025

The bureau reports that, even though it leads to thousands of denied loan applications annually, medical debt is a poor predictor of a borrowers creditworthiness. According to the CFPB, the rule change: Removes exceptions that let lenders use information about medical debt to make determinations about someones creditworthiness.

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Sawin & Shea

JUNE 7, 2023

When a borrower applies for a loan or credit card, the lender will assess their creditworthiness by looking at their income, credit score, and debt-to-income ratio. The guarantor may be required to provide collateral or security to the lender to reduce the risk of the loan.

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Collection Industry News

JUNE 10, 2024

It finalized, it would: Remove exceptions that let lenders use information about medical debt to make determinations about someone’s creditworthiness. Bar lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone can’t repay the loan.

Debt Consolidation 40

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