What is collateral?
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Collateral is property or other assets that a borrower pledges as security for repayment of a loan. In the event of default, the collateral is forfeited to the lender.
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Collateral is property or other assets that a borrower pledges as security for repayment of a loan. In the event of default, the collateral is forfeited to the lender.
Did You Find This Article Helpful?