There are various kinds of loans and personal lines of credit: mortgages, bank cards, HELOCs, figuratively speaking, and more. Each of them belong to 1 of 2 groups: secured and credit card debt.
Secured personal loans and personal lines of credit
Secured personal loans and credit lines are “secured” since they are backed by some underlying asset like a house or a motor vehicle. The lender gets to keep the asset if you can’t pay back the loan or default.