Unsecured Finance Company and Bank Loans are cash loans where the creditor does not retain an interest in property owned by the debtor leaving the lender no recourse to collect the debt.

Secured Finance Company and Bank Loans are loans where the creditor retains an interest in property owned by the debtor such as in the case of automobile and home loans. In such cases, in order to keep the secured property, the debtor must reaffirm the debt and remain liable for the debt. However, the debtor can surrender the property to the creditor and discharge the debt, leaving the creditor no recourse to collect the debt from the debtor. 

Government secured student loans are generally not dischargeable except for in extreme cases where paying the loan would place an undue hardship on the debtor.