Unsecured loans do not involve collateral, but if you fail to repay the debt, creditors can pass the debt on to collections agencies and negatively impact your credit score. You’ll also want to consider whether you want to use a secured or an unsecured loan. Secured loans require collateral, such as a car or property, and lenders can repossess these assets if you fail to repay the debt. https://easzfin.com/the-department-of-education-pauses-processing-of-tpd-discharges-from-dec-20-2024-to-early-mar-2025-what-you-should-know/