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LSDefine

Simple English definitions for legal terms

collateral loan

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A quick definition of collateral loan:

A collateral loan is when you borrow money and give something valuable as a guarantee that you will pay it back. This could be your car, house, or other valuable item. If you don't pay back the loan, the lender can take your collateral as payment. It's important to make sure you can afford to pay back the loan before taking out a collateral loan.

A more thorough explanation:

A collateral loan is a type of secured loan where the borrower pledges an asset as collateral to the lender. This means that if the borrower fails to repay the loan, the lender can seize the asset to recover their losses. Collateral loans are often used to obtain larger loan amounts or lower interest rates.

For example, if a person wants to buy a car but doesn't have enough money, they can take out a collateral loan using the car as collateral. If they fail to repay the loan, the lender can repossess the car to recover their losses.

collateral line | collateral matter

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Dkk
19:42
SEO is big money
KnowledgeableRitzyWasp
19:42
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
llama
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
llama
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
JapaneseMacaque
20:55
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
JapaneseMacaque
20:57
TY
jackfrost11770
20:59
got a random stanford email and almost had a heart attack
jackfrost11770
20:59
ALSO CONGRATS!
texaslawhopefully
21:03
Congrats1!
Ratratta
21:15
Miami A, yall I'm so excited I could cry.
Ratratta
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
JazzyGazelle
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
JazzyGazelle
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
JazzyGazelle
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
180SupremeWarrior
23:53
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
JazzyGazelle
0:59
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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