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Personal loans can be used for any purpose.
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∙ 13y ago
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If you take out a loan and then you die who pays for it?
Either insurance or the estate. Some lending institutions provide "credit life insurance" which pays off the loan. If that is not part of the loan, the estate will be required to sell assets to cover the loan.
If cosigner pays off a defaulted loan is there a way to have a repossession removed from cosigners credit?
The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.
What do you call it when someone pays back a loan quickly?
A sudden debt pay off is when someone pays back a loan quickly.
How does it affect your credit if you pay a personal loan off early?
It doesn't hurt your credit to pay off a loan early.
What profession pays off their student loan the quickest?
engineering
Can someone explain what credit consolidation services are?
A credit consolidation service takes the different accounts such as credit cards where you have outstanding balances, pays them off, and provides you with a lower interest rate on a single loan. It is helpful if you have gotten over your head in debt.
How is a primary borrower's credit affected if he or she defaults on a loan but the cosigner pays the loan?
The defaulted debt will become a negative entry on the primary borrower's credit history and will remain for the required 7 years.
Will a credit score be better or worse if you take out an unsecured personal loan to pay off credit card debt?
If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.
How can I take my name off a straw purchase on a car loan?
If you co-signed a car loan you can't take your name off the loan. If you co-sign for someone with no credit or poor credit you are promising to pay off the loan if they don't. The only way to get your name off the loan is to pay it off or have the borrower refinance the loan in their own name.
How credit union collect bankruptcy loan that discharged?
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
Are there penalties for prepaying a bad credit auto loan?
There are no penalties for prepaying a bad credit auto loan. It is beneficial to pay off the loan sooner or on time.
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
