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Foreclosure – This is the authorized procedure where collateral which has been pledged for a loan could be bought so that you can repay the loan If your borrower defaults.
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Debit card – It is a card issued by a financial institution or Several other economical establishment and infrequently useful for buys. The acquisition is deducted straight from a checking account.
Repossess – The voluntary or forced surrender of items in the situation of the shopper’s failure to pay for back again a loan.
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