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Case study assignment
Types of credit available to Sam and Judy
Credit varies from one form to another making them unequal. Since there are many forms
of credit available to consumers getting conversant with credit types can help someone become a
better credit consumer. There are four types of credits, i.e., secured, unsecured, revolving and
installment (Hibbeln & Martin 2012).
Secured credit is the kind of credit where the borrower is required to put a lien on the
asset he/she owns. The creditor is entitled to take the asset if the borrower fails to live up to the
terms of credit agreement put in place. The common types of secured credit are mortgages, car
loans, and home equity loans (Hibbeln & Martin 2012).
The unsecured credit is forms of c...
