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 Post subject: Collateral
PostPosted: Wed Jul 21, 2004 12:20 am 
PPT God
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Can someone explain to me what collateral exactly is?


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 Post subject:
PostPosted: Wed Jul 21, 2004 12:22 am 
PPT Student
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Collateral is what you pay someone to be lent an item.For example, you may pay someone 100K to borrow an Icy Snowflake, that's called collateral.


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 Post subject:
PostPosted: Wed Jul 21, 2004 12:23 am 
PPT Toddler
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Ok, if you want to borrow an item, the owner may say they require collateral. This is basically the amount of NP that the item is worth. Collateral is asked for, as it stops you from stealing the item (you want your NP back)

Hope that made it clearer


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 Post subject:
PostPosted: Wed Jul 21, 2004 12:27 am 
Beyond Godly
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When you buy a house and take out a loan to pay for it, you put the actual house up as collateral until the loan is paid in full. That way, if you don't pay the loan, the lendor has the ownership to your house. Same with a car loan. So, in Neopets terms, if you put down something as collateral in order to borrow an item, the other person has the right to keep the stuff you put down as collateral if you don't return the item.

Which is why, if you are lending out items for collateral, you should always get collateral that has the same value in nps as the item that you are lending.


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Tested made this fabulous set for me!!! Isn't it great?


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 Post subject:
PostPosted: Wed Jul 21, 2004 1:42 am 
Beyond Godly
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collateral, is what has to be given up if you fail.
(lose the house for example in a loan arrangement, or the loss of life in a war for example)


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 Post subject:
PostPosted: Wed Jul 21, 2004 3:20 am 
PPT Trainee
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You usually get it back in part or in whole.


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 Post subject:
PostPosted: Wed Jul 21, 2004 4:30 am 
PPT Trainee
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On neopets you always get the collacteral back though.


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 Post subject:
PostPosted: Wed Jul 21, 2004 7:07 am 
PPT Warrior
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you temprorily buy it, btu then receive your money/items back


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 Post subject:
PostPosted: Wed Jul 21, 2004 10:44 pm 
PPT God
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Okay, thank you very much everyone, moderators can lock this.


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