The concept of collateral has been there for ages. Did you know? The Ancient Greeks and even the Ancient Romans were way ahead of their time. They used to borrow money against property. Even our beloved Shakespeare wrote about this practice in his famous book The Merchant of Venice.
For those who don't know, collateral is something you own, which is of a 'high-value' that you can pledge to give to the lender if you are unable to repay the loan.
The practice of 'loan collateral' is still very popular and people generally use property, auto, or expensive jewelry for the same. However, not everyone takes the usual route. There are some who have come up with rather, um, creative ways to help secure loan. Keep reading to know more!
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