Glossary: U
UNSECURED LOAN
An unsecured loan is the name for a loan that does not use anything you own as security. Therefore you cannot lose your home directly if you don't make the payments - but you can be taken to court and end up having to pay back the money. Your 'credit rating' may also be affected if this happens - this means that most financial companies will refuse to lend you money.
UTILITY BILLS
The bills for electricity, water, gas and telephone.
Adapted from Money matters to me. Used with permission. Back to top
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