Tag Archives: borrow against deposit

Jerry Wants to Know How to Repay Debts He Can’t Afford

“Dear Steve, I have a time deposit at the bank and borrowed 80% of it using the deposit as collateral. I already skipped 3 payments even for the interest alone. My car is also mortgaged at another lending firm and I already skipped 2 monthly payment for my amortization. I have a small business but [...]