Description and Coding Systemâ (âHarmonized Systemâ or simply the âHSâ).2 It went. into effect internationally on January 1, 1988, with the entry into force of the. International Convention on the Harmonized Commodity Description and Coding. System (âHarmonized System Conventionâ) to which the Harmonized System is.
A secured debt or secured claim is one where the lender has some sort of collateral. A car loan or home mortgage would be the most common examples, but other debts may be secured as well, especially in business settings.
A car title loan â also known as a pink-slip loan, title pledge or title pawn â is a small, short-term, high-rate loan that uses the clear title on your vehicle as collateral. It is a very expensive form of credit. Some lenders offer car title loans if you have equity in the vehicle, even without clear title. These loans typically are for 15 or 30 days and have a triple-digit annual percentage rate (APR) â a much higher interest rate than most forms of credit. Car title loans often are for an amount that is 25 percent to 50 percent of the value of the car. On average, these loans are for $100 to $5,500. But they can be for $10,000 or more from some lenders. Applying for a Loan. Car title lenders operate out of store fronts and online.