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5 December, 16:53

3) Upon debtor's default what rights does the creditor have to the collateral?

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  1. 5 December, 17:01
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    Answer:To use the the collateral to redeem the debts.

    Explanation:

    On giving out loans creditors normally demands for collateral to cover their exposure to the loan in case of defaults by the debtors.

    On confirmation of loan defaults the creditor takes ownership of the the collateral for use or sales to compensate for the loan defaults.
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