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If the customer does not pay back the loan plus interest after 60 days, or pay additional fees, the collateral item is put up for sale.
The safest way to do this is to specify how long after default (default means failure to pay as promised) you will wait before selling the collateral item to satisfy the debt.
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Dvorkin suggested that it's easier to get a loan using as collateral an item like real estate or stock as opposed to portable items such as a diamond ring, a vehicle or other items that can easily be transported.
As collateral, among other items, she used town houses she owns in Greenwich Village, a country house, and something else: the rights to all of her photographs.
Similarly, VistaPrint, the e-commerce leader selling business cards, stationery and marketing collateral, among other items, has for many years maintained a dual presence on digital and traditional media.
However, there were some more diffuse or "collateral" effects on items belonging to different sub-scales.
You don't want to be left to determine what you need in terms of equipment, tools, marketing collateral and retail items when you need to be focusing on building your business.
Whether a debtor or a particular item of collateral was included in our analysis at the borrower or the collateral level is illustrated in Fig. 1.
Collateral should be an item of something of equal or greater value than what you lent out.
Springleaf said that the problems were isolated and that it had curtailed the use of household items as collateral.
The banks argue that offsetting items like collateral and hedges should not be ignored because they provide dependable protection.
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