well yea.. These loans are very important for the survival of the people in today's environment because the prices of the products whether they are durable products or whether they are perishable products are very high, the middle and the poor class people are not able to purchase the products very easily, even if they want to buy any small property for it also they have to go for loans. Loans are some how very essential factor in the lives of the people, because they are getting loan to meet the demands of the day to day. The loans make the life of the people wonderful, now they can easily get the loans at anytime but the fact remains very hard that the people have to pay the interest rate too. The interest rates make it hard for the people to repay the amount of money. The secured loans are always less risky and by giving these types of loans the lender should not be worried about having the payment back because the borrower has given him the valuable asset as well as a security. The secured loans are the best loans because by giving these types of loans the lender is not going to have large number of risks

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Tax Enquiry

Borrowing money to pay for things you cannot afford is lunacy! That is the biggest internal problem we have in this country right now. Years ago the phrase was, "keeping up with the Jones'". You never hear that today because everyone seems to be in the race to "have it now", "pay for it later". That philosophy is killing our country with homes we cannot afford, cars we cannot afford, bankruptcy and foreclosures at record levels, and no sense of fiscal responsibility. We think the big corporations should just suck it up, and the government should bail us all out. But who is going to pay for all these bailouts and losses? That's right, the consumer with higher taxes and higher prices. There is no free lunch!

I am agree with Gary,

these loans are given against property or fixed assets. You take loan to pay another that is not called you're out of debt.