Can a Bank or Credit Union Change an Unsecured Loan to a loan that is secured?
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For those who have an unsecured loan, such as for example your own loan, a student-based loan, credit cards if not an unsecured company loan, your lender generally cannot suddenly demand security. Nevertheless, for nonpayment and gets a judgment, the judgment might become a lien on real estate if you default on the loan, your lender might use your default as leverage to get collateral from you, and if your lender sues you. Read More