Can you go into a certificate of deposit for money if its being used for collateral on a loan?

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Can you go into a certificate of deposit for money if its being used for collateral on a loan?

30 thousand dollar loan.15 thousand dollar cd that i need money from really bad,can the bank tell me i cant get my money,this is my money

2007-09-20 23:55:57 · 1 answers · asked by Anonymous in Business & Finance ➔ Personal Finance

1 answers

No, it's not your money because you've given it as collateral to the loan holder. It would be much collateral ifyou could just go withdraw the money, would it? Perhaps you need to google collateral and find out what that means. . .

2007-09-21 00:38:35 · answer #1 · answered by towanda 7 · 1⤊ 0⤋