<span>Barry is 45 year old and is not a loner as he spends time with his mother. He spends his evenings and weekends with his mother playing scrabble and pass time browsing on the internet and chatting online. He sometime goes on dates and he got a date that was setup by his friend.</span>
Answer:
(1). Secured loans
Collateral is generally required for secured loans. Secured loan are those for which the borrower, along with a promise to repay, puts up some asset (collateral) as surety for the loan. A secured loan instrument simply means that in the event of default, the lender can use the asset to repay the funds it has advanced the borrower. The risk of default on a secured loans tends to be relatively low since the borrower has so much more to lose by neglecting his financial obligation. Secured loans financing is typically easier for most consumers to obtain. As this type of loan carries less risk for the lender, interest rates are usually lower for a secured loan.
(2). Higher interests rates.
People who get loans but are considered a risk to fully repay them, often get higher interest rate. Because the risk to the lender is increased relative to that of secured debt, interest rates on unsecured debt tend to be correspondingly higher. However, the rate of interest on various debt instruments is largely dependent on the reliability of the issuing entity. An unsecured loan to an individual may carry astronomical interest rates because of the high risk of default.
(3). Higher total payment.
An unsecured loan to an individual may carry astronomical interest rates because of the high risk of default. Lenders issue funds in an unsecured loan based solely on the borrower's creditworthiness and promise to repay. Unsecured loan has no collateral backing, It involves no security, Hence, If the borrower defaults on this type of debt, the lender must initiate a lawsuit to collect what is owed.
Friends*.....And what you mean
Answer:
Social Medias ables you to connect friends all over the world. But when you get addicted to social media, you get isolated. With your family. Second of all, crimes happens throughout social networks. You get close with a "online friend". If you do not know your online friends in real life, there could be some chances that your online friend is a criminal. I know this is rare, but cases of SNS crime is ACTUALLY happening! SNS can be fun, but in the other hand, they could be critical. So my suggestion to you: Use social media wisely!
Explanation:
