What would you like to do?

What is the balance on a loan?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

The balance means the amount of money that you still owe on the loan.
4 people found this useful
Thanks for the feedback!

Are you responsible for the loan balance if you foreclose on your home?

Yes, of course. The lender forecloses on the dishonored promise to pay, takes possession of the home, auctions it to the public, and you still owe whatever amount they were no

Are you responsible for loan balances after repossession?

In MOST cases, you are responsible for the BALANCE DUE. Read the contract you signed to find out more on it. It is NOT something you want to forget about. lenders do get judgm

How do you treat the loan repayment in the balance sheet?

Loan repayment will reduce the amount of loan liability from  liability side of balance sheet as well as reduce the cash or bank  account as the payment is made through bank

What is the meaning of proportion of loan balances to loan amounts is too high?

  Simply put, this means someone uses too much of their available credit. Here is an example:   Person A has $1000 in credit card debt (4 open cards) spread out like th

Where does interest paid on loan go in the balance sheet?

INTEREST ON LOAN NEVER GOES TO THE BALANCE SHEET AS IT IS A REVENUE EXPENDITURE. IT WILL SHOWN AS AN EXPENSE FOR THE FINANCIAL YEAR AND DEBITED IN PROFIT AND LOSS ACCOUNT BEFO

What is a disbursed loan balance?

  Disbursed Loan Amount   When you get a loan, sometimes the entire amount of the loan is not given out (disbursed) immediately. For instance, suppose the loan is a

Do you have to pay the balance of your car loan after it is repossessed?

\n. \n Answer \n. \n. \nyes you do so the bank or dealer wont report it to creditors.\n. \n. \n More Opinions \n. \nWhen a vehicle is repossessed it must be leg

Proportion of loan balances to loan amounts is too high?

This specific reason does not necessarily means something negative on your credit report. For instance, you can have an active but not fully paid loan on your account. Even if

How do you calculate a 12 month average balance on a loan?

  The answer depends on when interest is calculated, how frequently payments are made, the interest rate being charged and the life time of the loan. There are a number of

I returned my car to dealer do I owe the balance of my loan?

I would think that if the loan matches the value of the car, then you might be close to even. However, if you owe more than the car would sell for, then you may have a problem