Personal loans provide borrowers with the opportunity to access funds for those areas in their life that need some assistance or where additional funding would work to their benefit. A secured personal loan is a type of personal loan that involves the borrower having to provide some type of collateral to the lender as assurance that they will repay the loan. This is due to the borrower falling into a high-risk category. There are pros and cons to accepting a secured personal loan that we will explore further. High risk in regard to loan repayment can mean a variety of things. It can mean you have an unsteady income, including self-employment where the amount of income you have coming in varies each month. While the lender can see you have an income source, it is not considered to be a reliable as getting a regular paycheck. The decision will depend on the regulations of the lender, length of time you have been self-employed, and the loan amount you are requesting. High risk in ter...