Personal Loans from a Bank (car/mortgage)
Informal Loans
Charge Account
Payday Loans/Cash Advances
Student Loans (college)
Credit Card
Borrowing money from family members, friends, or acquaintances.
A lender provides a specific line of credit to be used for purchases anywhere the credit card is accepted (such as Visa). You agree to pay a minimum monthly amount of money owed, annual fee and interest fee for using the credit.
An amount of money borrowed each semester to cover education and living expenses.
Purchasing products using a credit line at one particular store only.
Money borrowed from a lender either unsecured or secured (with only a signature or an item that can be taken by the bank in the event the loan isn’t paid, such as a car or home).
An amount of money lent based on the amount of money one receives each paycheck.
