Creditors Cannot Legally Request Collateral on a Previously Unsecured Loan

question 3

True/False

Creditors cannot legally request collateral on a previously unsecured loan.

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Definitions:

Denial

A refusal to believe or accept; disowning.

Refusal To Admit

The act of not accepting someone into a facility or institution, often based on specific criteria or standards.

Standard Communication Model

A theoretical framework describing how messages are transmitted from a sender to a receiver through a medium, incorporating feedback.

Sender

The party that initiates the transmission of a message or data in communication processes.