somebody told me that if the account is ten years old and in use, you can use it as collateral for two reasons:
1. The owner wants his account back
2. The contacs are useful for new bussines or some database (some people sales the info of others for publicity)
You should maybe go to that person who told you that and ask
him for the loan instead of convincing us. After all, that person certainly does know the value of the Facebook account while we don't, right?
That was the reason that makes feel that maybe some one could take it as collateral.
but you nicely explain me the error...
; P
Okay, I'll try my best.
Collateral is something to be used to ensure that the borrower will pay back the loan,
and is something that the lender values (or knows the value) enough to be able to happily use it as compensation in the event of a defaulted loan. Typically, it's based on the price of the collateral and if the lender can sell it easily enough to get his money (or, preferably, 120% of his money) back.
Your reasons are really just about that first requirement of collateral, which is that it's valuable to you. Don't think of it as why
you would return the loan, think of it through the lender's POV. It's completely and utterly useless to us, and I bet someone could buy a 10 year old Facebook account off the Internet for pretty cheap if they valued one that highly.
Here is something you should read up on. It's relatively short, don't worry.
