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In some cases, yes. But mostly - not. Something should be given as a collateral security - whether it is a written agreement or an item to be surrendered.
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∙ 11y ago
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If I default on my personal loan agreement, can they repossess my collateral?
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
Define collateral security?
Collateral security is extra security provided by a borrower to back up his/her intention to repay a loan.
What is something given to guarantee repayment of a loan?
collateral
What does collateral refer to?
security for a loan or outside of what was intended (collateral damage)
Are assets used to guarantee a loan collateral?
your mamas face haha
What is collateral security?
PLACING SOMETHING OF VALUE DOWN AS A GUARANTEE OF PAYMENT ,WHICH YOU WILL LOSE IF YOU DEFAULT .
If I default on my personal loan agreement, can they repossess my collateral?
Your property can be subject to repossession if you default on a loan. This can be the case if you put up part of your collateral as a guarantee for your loan.
Define collateral security?
Collateral security is extra security provided by a borrower to back up his/her intention to repay a loan.
How can you get a loan with no job and no collateral?
Creditworthiness or government guarantee.
What is something given to guarantee repayment of a loan?
collateral
What does collateral refer to?
security for a loan or outside of what was intended (collateral damage)
Are assets used to guarantee a loan collateral?
your mamas face haha
What is the difference between security and collateral security?
Security is broader, including guarantees etc. Collateral is something specific that can be seized upon default, like a house, car, or shares.
What is the different between security and collateral security?
Security is broader, including guarantees etc. Collateral is something specific that can be seized upon default, like a house, car, or shares.
Do I Need To Provide Security To Get The Business Cash Advance?
No. The cash advance lenders examine your cash advance application based totally on your previous card receipts and do not take collateral, i.e. a charge on property or over every other assets of your business enterprise. However, if you are a limited company, a personal guarantee will be required.
What are some things that can guarantee security on a construction site?
There are many things that can guarantee security on a construction site. Some things that can guarantee security on a construction site includes locked gates and security guards.
Accounting-what is a collateral security?
Lying alongside a debt
