Author: annyjolly01
The financial market has made provisions for loans in two categories: secured and unsecured. When the borrower wants to secure loans in secured form, the lenders ask him to offer any of his tangible properties to be used as security. The lenders have the right to grab the property used as collateral if the borrower does not pay the loan amount in time. Of course, the lenders remind him and warn him before they capture the property by the strength of law.