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When a financial institution uses a home or car as __________, they have the right to take ownership of that item in lieu of payment. asse payment collateral debt
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5 votes
When a financial institution uses a home or car as __________, they have the right to take ownership of that item in lieu of payment.

asse
payment
collateral
debt

User Ashawley
by
3.6k points

2 Answers

5 votes

Answer:

collateral

Step-by-step explanation:

I know because i took the test

User Lorixx
by
4.0k points
4 votes
they can use it as payment
User ZJorge
by
3.7k points
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