What is a signature loan on the honor system?

Answer There are many types of loans, but most require some sort of backing, called "security," "backing" or "collateral." A secured loan identifies collateral or backing that can be taken, should the bor... Read More »

Top Q&A For: What is a signature loan on the honor system

Which loan is better: an auto loan or a signature loan?

On One Hand: Auto LoansWhen you are purchasing a car, you can use the car as collateral so that the loan becomes less risky for the lender, which means you get a lower interest rate. A lower intere... Read More »

What is a signature loan?

A signature loan is a type of unsecured loan, meaning no collateral is required in order to borrow money. Instead of collateral, the borrower places his or her "signature" as a promise to repay the... Read More »

What Do I Need for a Signature Loan?

Signature loans take less time for a bank to process than other types of loans because the lack of collateral means that the loan underwriter bases the decision to approve or decline the loan purel... Read More »

What Is a Closed-End Signature Loan?

Closed-end signature loans are loans wherein you borrow money from a lender, then eventually repay that loan in a predetermined period covering several payments. Payments for closed-end loans are f... Read More »