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Unsecured loans are generally less risky to lenders than secured loans- Therefore secured loans typically charge a higher APR than unsecured loans.

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What Is Consumer Debt?

Consumer debt consists of personal debts that are owed as a result of purchasing goods that are used for individual or household consumption. Credit card debt, student loans, auto loans, mortgages, and payday loans are all examples of consumer debt.
 


Unsecured loans are generally less risky to lenders than secured loans- Therefore secured loans typically charge a higher APR than unsecured loans.






 
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