Question

why do lenders ask for collateral while lending?give answer in short more thsn 30 word ok help u fast okhiii

Answer 1

hey mate||

here is u r answer!!!!

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lenders ask for collateral while lending because if payment of interest and repayment of the principal are not made on time ,the lender can sell the collateral assets and recover their money .

ok help u..

Answer 2

hii. ...friend

the answer is here,

Lenders ask for collateral while lending money. Because if any person can't pay the interest & as well as principle. Then the lender can sell the collateral assets and get their money.


:-)Hope it helps u.