I am just curious about collateral in bank loans. I have heard of cars, houses. What about valueable collections?
2007-07-09 08:36:06 · 6 answers · asked by Kandice F 4 in Business & Finance ➔ Credit
You might want to check out the following website if you need a personal loan. Look for a group under the community tab that supports stamp collectors.
2007-07-09 09:12:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1
2016-09-28 02:28:27 · answer #2 · answered by ? 3 · 0⤊ 0⤋
It's not likely. The bank isn't interested in the value of what you say your stamp collection is. They want something that's more tangibly liquid than that.
If you could demonstrate that the stamp collection could be liquidated (sold) easily for a guaranteed amount of money ($1000 or more), they might consider it, but they prefer something that has more liquidity (stocks, bonds, real estate, title to your car, etc).
2007-07-09 08:40:05 · answer #3 · answered by Scotty Doesnt Know 7 · 0⤊ 0⤋
If your loan comes down to the value of your stamp collection then you probably shouldn't be taking out a loan.
2007-07-09 08:42:48 · answer #4 · answered by czwtrpolo2 2 · 1⤊ 0⤋
Collateral needs to have a listed value, like a car (bluebook value, for instance), or a house (appraisal). A collectible needs to be appraised/insured in order to have 'legit' value.
2007-07-09 08:40:55 · answer #5 · answered by bethanne 6 · 0⤊ 0⤋
You can use anything if they'll take it...
2007-07-09 08:42:29 · answer #6 · answered by groverty 2 · 0⤊ 0⤋