To secure or not to secure...

... That is the question ! So,

Some people may not have any option other than to go for a secured loan, such as those with a bad credit rating. If you have bad credit then the chances are that you will not be offered any unsecured finance because the risk is too high to the lender. However, if you have equity in your home then there is a good chance that you can get a secured loan, because the collateral that you provide (i.e. your home) acts as security to the lender.
Other people may have no other option than to opt for an unsecured loan, such as those who do not own their own property, or those with no equity in their home. However, in order to get an unsecured loan you will have to have pretty good credit, as otherwise most lenders may reject your application.

Reno Charlton