Sociology, asked by tejukarne123, 5 months ago

what is a term colletral ?why it is needed . do you think is it good ​

Answers

Answered by ALLWIN801
5

Before a lender issues you a loan, it wants to know that you have the ability to repay it. That's why many of them require some form of security. This security is called collateral which minimizes the risk for lenders. It helps to ensure that the borrower keeps up with their financial obligation.

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Answered by itzlovehunter90
6

Answer:

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