The key difference between secured and unsecured credit is that unsecured credit transactions are permissible only in a commercial context.

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The key difference between unsecured credit and secured credit is that with unsecured credit,services are rendered or money is loaned and the creditor gives up all rights to the goods or services in exchange for a promise to pay.With unsecured credit,the creditor can go against the security to collect the obligation.

The Key Difference Between Secured and Unsecured Credit Is That