Yeah, i know it's a bit frustrating. But I don't see the point of using alt-coins as collateral. If i had these than I could sell them and don't need a loan.
That is a discussion for another day, collateral is something that
1) Does have a value, 120% + of the loan
2) Is not reversible/transferable back before the loan is paid.
3) Can be easily sold in 2-3 days if the lon is defaulted.
Yours is none of those