They can refuse if the loan outstanding is much more than the collateral provided. Ex: If you have a loan outstanding of 100,000$ and you have provided a collateral of 50,000$ you cannot expect the bank to release any collateral. Lets say your outstanding is only $30,000 then you can expect the bank to release a certain portion of the collateral atleast $20,000
Absolutely. There are other reasons other than a late payment for a bank to repossess your car. Cancelled insurance or a big drop in your FICO score. If you seem like a credit risk to your bank all they have to do is wait for you to become delinquent once and they have the legal right to default the loan and get the asset back. At that point they can refuse payment and keep the vehicle in most states. The only way is to pay off the full amount of the loan within 10 days.
What is the difference between bank loan and bank credit?
A bank loan is an asset for the bank as bank receives interest and principle payments from borrower.
bank a/c dr to bank loan a/c
They can refuse if the loan outstanding is much more than the collateral provided. Ex: If you have a loan outstanding of 100,000$ and you have provided a collateral of 50,000$ you cannot expect the bank to release any collateral. Lets say your outstanding is only $30,000 then you can expect the bank to release a certain portion of the collateral atleast $20,000
Subordinate debt means to have a loan lower than other loans with regards on claims of assests or earnings. This simply means that one is only entitled to a specific loan.
bank loan
Absolutely. There are other reasons other than a late payment for a bank to repossess your car. Cancelled insurance or a big drop in your FICO score. If you seem like a credit risk to your bank all they have to do is wait for you to become delinquent once and they have the legal right to default the loan and get the asset back. At that point they can refuse payment and keep the vehicle in most states. The only way is to pay off the full amount of the loan within 10 days.
Yes. There does not need to be the issue of bankruptcy for a lending institution to refuse the applicant. What they may not do is discriminate for reasons of gender, race, ethnicity and so forth.
While you are a bankrupt you can not legally take out a personal loan. Further before issuing you with a loan (even after your bankruptcy has cleared) all banks will perform credit checks and they will probably refuse you credit (the loan) on the basis of your history.
when a loan is been transfered fron bank to another. . .the bank which the loan is transfered to board the loan. .
What is the difference between bank loan and bank credit?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
A bank loan is an asset for the bank as bank receives interest and principle payments from borrower.
bank a/c dr to bank loan a/c
how to get a loan to your bank if my bank now is not DIB