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Personal loan
When the collateral is forfeited due to non-payment of loan
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[QUOTE="Augusta, post: 116412, member: 25283"] Well, you were lucky to have been able to pay off the balance to be able to get the property. If not you would have been in a huge trouble because you might just have to forfeit that property. Collateral for a loan can be auction when there’s a renege in full payment. I’m sure that was the initial agrrement [/QUOTE]
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When the collateral is forfeited due to non-payment of loan
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