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GLOSSARY TERMS
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Secured Debt

Secured Debt is debt that is backed by an asset (e.g. car, home, or other types of tangible or intangible property with value).  The borrower pledges the asset to the borrowee as security against the money borrowed.  In the event that the borrower defaults on the loan payments, the borrowee can reposses the assets or assests that have been pledged as collateral on the debt.


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