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Can a concept ever be completely concrete?
Collateral
Collateral offered to secure a loan, subject to seizure upon default.
Collection Agency
An organization employed by creditors to collect funds that are owed by individuals or businesses, usually when those debts are past due.
Principal
The original amount of money borrowed or invested, excluding any interest or dividends.
Defaults
In financial contexts, refers to the failure to meet the legal obligations or conditions of a loan, such as not making the required payments.
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