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okay this is collateral or security dfi thirty explainer video collateral or security are assets you pledged to secure payment of a loan these types of loans are called secured loans if you as the borrower default and dont repay the loan as required while your secured creditor has a right to take possession of and sell the secured asset to recover any money theyre still owed collateral can take many forms a mortgage is generally secured by the deed to real property like your home a car loan is secured by your car or rent-to-own loan is secured by the furniture you purchased business loans can be secured by business assets like inventory or customer accounts receivable if you go bankrupt or file a consumer proposal you can either keep making your secured loan payments and keep the asset or give the asset back and include any shortfall in the loan in your filing [Music]