If i take out a loan, can i use the money in a trust fund as collateral?

Answer 1

Not really. Be careful if you do. You could land yourself in trouble

Answer 2

Generally not. A well written trust document would have creditor protection clauses that would prohibit your using the assets as collateral. You would need to check with the trustee.
You might also discuss with the trustee what you need the loan for. The trust may have provisions that would enable him to make a distribution of principle that would eliminate your need for the loan.

Answer 3

If you get regular payments from it, yes.
If you don't and someone else has control, then not.