Can a Bank or Credit Union Change an Unsecured Loan up to a loan that is secured?

Can a Bank or Credit Union Change an Unsecured Loan up to a loan that is secured?

Can a Bank or Credit Union Change an Unsecured Loan to A secured loan?

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A student loan, a credit card or even an unsecured business loan, your lender generally cannot suddenly demand collateral if you have an unsecured loan, such as a personal loan. Nevertheless, for nonpayment and gets a judgment, the judgment might become a lien on real estate if you default on the loan, your lender might use your default as leverage to get collateral from you, and if your lender sues you. (more…)

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