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Tatar_Nobility@lemmy.ml 1 year 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 1 year ago
If he’s wealthy then he has a lot of assets which can serve as a guarantee for the creditor.
TranquilTurbulence@lemmy.zip 1 year 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.