Collateral security problems in consumer credits

Consumer is the person who signs good and service contracts with non-commercial purposes. Consumer credit could be defined as the form of a loan to meet the financing of goods and services purchased. Collateral is prominent in consumer credit. Collateral secures that the credit returns to the creditor. Collateral security is the most preferred and the safest type of collaterals. Collateral security offers assurance regarding assets. There have been some legal issues related to consumer safety in collateral securities that banks search for credit receivables. Consumer safety was examined in the first part of the study. The relationship between consumer credits and collateral security was analyzed in the second part. Finally, legal issues related to collateral security which is demanded in consumer credits was surveyed in the third part.