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Tatar_Nobility@lemmy.ml 10 months ago
If he’s wealthy then he has a lot of assets which can serve as a guarantee for the creditor.
Comment on [deleted]
Tatar_Nobility@lemmy.ml 10 months ago
If he’s wealthy then he has a lot of assets which can serve as a guarantee for the creditor.
TranquilTurbulence@lemmy.zip 10 months ago
Millionaires own land, commercial buildings, palaces, stocks, bonds, Lamborghinis and yachts that can pledged as collateral. Banks love to mitigate risks with assets that are easy to liquidate.