👉 Collateralize is a phrase or expression that refers to borrowing money from someone else. It's often used in the context of financial transactions, particularly when one party has the ability to meet their obligations on time and without default. The borrower uses this as leverage to secure their debts. For example, if you are a student who wants to borrow money for school supplies, you might say "I need $500 to buy textbooks and other materials," and your friend would be able to lend you
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What is the definition of Collateralized? 🙋
👉 Collateralized is a legal term that refers to a financial arrangement where one party (the lender) guarantees repayment of money or assets pledged by another party (the borrower). This means that if the borrower defaults on their loan, the lender will be responsible for repaying the amount they borrowed. Collateralization is typically used in situations where the borrower has insufficient funds to repay the loan and requires additional financial support from a third party.
