§ 14957 Loan Security Requirements

• •If a loan seems risky to the lender, they can ask for more security (like extra money or property).
• •If you don’t give the extra security, the lender can demand the full loan amount back right away.
• •This applies to loans from banks or credit unions.

You take out a loan to buy a car, but later you lose your job and can't make payments.

The bank might say the loan is now risky and ask you to give them something else of value, like another car or money in a savings account. If you don’t give them what they ask for, they can say you have to pay back the whole loan immediately.