Ever lost a collateral for loan defaulting?

[Henrywrites]

Collecting some loans to start up a small business can be a deadly move especially when the business starts having challenges and you are unable to repay. Have you had to lose a collateral because you didn't fulfil your loan obligations?

 

[deucher]

Thankfully, haven't lost collateral due to loan default. Prioritize financial planning, communication with lenders to avoid such situations.