Question

Write a word/term/phrase which can substituted each of the following statements:
Expenses which are paid before due.

Answer 1

Collateral is a property or other asset that a borrower offers as a way for a lender to secure the loan. If the borrower stops making the promised loan payments, the lender can seize the collateral to recoup its losses.A lender's claim to a borrower's collateral is called a lien.