Can a student loan be considered a unsecured debt?
A student loan is an unsecured debt. To be secured, there needs to be something, generally phyisical (but not always), that can be taken (repossessed), and sold to satisfy the debt if it isn't paid. Kinda' hard to take back an education!
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Answer . you have not given enough information to answre this question. Public school? Private school? In the united states? graduate school? undergraduate school?\n.
Seperate loans, have no right to car The two loans are separate as you said it was "unsecured," so it doesn't seem they are able to. The Credit Card company will list as defaulted if over 6mo past due and they will then sell it, giving 7years for the next company to collect on it before it is eithe…r paid by you or sold again. Don't let it go into default ^25% and affects your credit! They could forward this to their legal team and set you up for a possible wage garnishment, or sue for non-payment of debt. Why pay ahead on one loan when behind on another? I'd pay the car first but at least make a minimum pymt on the CC. Maybe. Even though the vehicle is a secured debt and the loan is not, if more than one of the financial transactions is by the same institution it is possible a set off clause was included in the contract terms allowing the lender to take the vehicle if the personal loan is defaulted. Unsecured only means there is no specific property being held as collateral for the debt, it does not mean assets or property of the debtor's cannot be seized and sold for repayment by means of a lawsuit judgment. A garnishment is only possible if the lender wins a lawsuit and executes the judgment as a wage garnishment. ( Full Answer )
Yes, but you should also do the following: 1) First, obtain dual citizenship in the country you are emigrating to. 2) Liquidate and remove all assets from your native country to avoid possible forfeiture by the Government, who will try to seize anything of value when you default on your st…udent loans. Also, obtain certified copies of all your educational transcripts/diplomas from the original institutions you attended. The Government may prevent you from getting these records after default. 3) Renounce the citizenship of your native country, and embrace your new home. 4) You are now immune from debt collection on your unpaid student loans, however you can never return to your native country without becoming subject to collections again. Sounds extreme, but financial freedom in another country is better than being a lifelong debt slave in the Land of the Free. ( Full Answer )
Answer \nAny debt that does not have collateral property attached to it, (credit cards, personal loans, pay day loans, etc.).\n\nSecured debts are real property (homes, business, vehicles, goods purchased on merchant accounts, perfected liens, etc.).
Answer . If they own the debt, yes...However there is a legal procedure for this and if the federal backed loan is in default, they will just take any tax returns until the debt is paid. Either way, they will get the money. Its federally backed...
No, it is still valid and the holder of the judgment writ can enforce it in the manner allowed by the laws of the judgment debtor's state.
No, you cannot use a Stafford student loan to pay off personaldebt. The only debt that should be paid off with an educationalStafford loan is your college debt.
Debt consolidation is when you consolidate multiple lines into one new loan or debt consolidation program - it typically involves a debt consolidation loan. It is important that you know what your options are and what your goals are before choosing a debt consolidation program or company. I took hel…p of Freedom Debt Relief to consolidate my loans. . ( Full Answer )
The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.
Any loan that has to do with furthering education is never a bad debt. The only bad thing is if you do not pay back your debt. It does count against your credit score negatively however a loan officer may find that its a good debt when you have paid on time over a long period of time. The opposite… can be taken into consideration be the loan officer or credit score provider. If you slow pay or are late all the time and behind on student loans than it can have a negative impact. In that case you need student loan modification to get you caught up so that its not a"bad debt". ( Full Answer )
\n. \nUnsecured debt consolidation loans are indeed a great help for debtors. It implies that you shoot a number of unsecured loans by another unsecured loan. But more often than not, it involves no security against your money provision and serves your purpose without collateral. It tries to cut… your cost with existing debt to a considerable level. The rate of interest you are offered always remains much lower to that of all your existing debt. With the financial process you reduce your debt burden by 50% to 60%. ( Full Answer )
Is this a question? Are you asking the average amount? Some but not all have student loan debt after graduation.
Answer . No. Your co-signer promised to pay if you didn't pay. You must repay the loans.
Okay, I'm a Freshman in college and when I am done with my full year in may I'll already be in 19K debt. I'm really nervous about it and it stresses me out, but I will refuse to drop out just because of the hefty price. I'm actually transferring schools to a public to make it less expensive. But I'v…e figured out that I'll be in about 44K defbt when I graduate in 3 years. UGH. Oh well. ( Full Answer )
Yes. Those who are already finished or out of school can apply for a student loan consolidation. If you're still in school but you want to start with your repayment, then you may apply for consolidation as well.. Answer: . Yes. Even if you consolidate your student loans, you can still defer your p…ayments. Standard deferment and forbearance options are core attributes of your student loan and are not lost when you consolidate student loans.. ( Full Answer )
In the US, the government will not remove the interest on student loans. They have too many ways of collecting. This collecting process will extend all the way to your social security.
In the US, a Federally Guaranteed student loan is considered default after 270 days on non-payment. If you need help with your delinquent or defaulted student loans, click on the link below.
You can get an unsecured loan from many companies that offer loans from the very small amounts, to very large sums. Unsecured means no collateral, so you need not put up an "asset" for the lender to hold to before you are given the loan. Having this type of loan would have to require that you have g…ood credit because the better your credit history, the better your interest rate. ( Full Answer )
In the U.S., student loans can be Federal or Private. Stafford, PLUS, and Perkins loans are Federal. Most others are private.
Not sure of average individual student loan, but the average student with student loans has $28,000.
Let me start by sending my condolences for the loss of your father. If the student loans were taken out by your father as PLUS loans, then the loans will be forgiven by the government. If you took out the student loans under your SS#, then you still have to pay on the loans, even if your father c…osigned on them. ( Full Answer )
There is a free budgeting web app with a feature called Credit Card Debt Terminator which can be used as a Student Loan Terminator. This feature is built right into the budget and it makes it very easy to maximize the loan payment as part of an overall budgeting strategy to help pay off the loan as …fast as possible in each personal situation. Short of getting an inheritance to pay off the loan, this is a very good way to optimize a student loan payout strategy. The free web app is called Out Of The Dark (OOTD) Budgeting at: www.myootd.org ( Full Answer )
This depends on the structure of the loan, who it is received from, where you are lving, where you are marrying, and several minor factors. In some case, your partner will not be liable for the loan, as it your own personal contract and they cannot enter it. In others, your debts are pooled.
depends on the disability, if it is minor, a) sucked in, and b)why the hell would i know. if its big then your just a retard with a lamp post for an ear.
Yes I believe up to 60,000 worth but the loans I believe have to be federal and in your name as well.
No. A home equity loan, also known as a second mortgage, uses your homeas security. If the loan is not paid back, the lender may go afteryour home.
Yes. Home equity loans are generally ten-year loans. Any loan lasting longer than one year is considered a long-term debt.
An easy way to find an unsecured loan service is by searching online. Online lending services provide an easy and fast way for people to get the money they need, right when they need it.
There are many ways to pay off the debt from student loans. Unfortuneately, I am unaware of any ways for you to get help from your school in paying off these loans. There are some websites that can help you with paying off your student loans.
A student loan calculator helps a student calculate their loan payments based on how much they are expected to earn in their new profession. A debt calculator helps a person know how long it will take to pay off all of their debts and become debt free. The amount entered into the calculator will dep…end on how much the debtor thinks they will be able to pay over a period of time. ( Full Answer )
A few things to consider before taking our an unsecured loan are: 1. Can you afford the extra payment? 2. What is the loan for, is it something I really need. And 3. How long would it take me to save for the item I will be buying with the money from the loan?
to clean one of them you need your passport and your id.\ sorry i do not do drugs
There are different types of Bankruptcy. Chapter 7 is for the debtor which has debts like medical bills,carloans etc. But if you want to pay back your debts then you can fileChapter 11 and 13 which has a payment plan. You can pay your debtsthrough payment planning. Try to search more information abo…ut bankruptcy and ask a legaladvice. ( Full Answer )
An unsecured loan is a loan in which the borrower does not need topledge their valuable asset as collateral to the bank. It can beavailed through any financing firm in India at the cheapestinterest rates. Personal Loan can be used for any purpose such ashome renovation, debt consolidation, wedding p…urpose, paying oldbills, for higher studies and medical expenses. It does not involverisk of losing the valuable assets as compared to secured loan. ( Full Answer )
To get student loan relief an individual should research information on the Student Loan Forgiveness Act.
The Consumer Financial Protection Bureau will help students manage their student loan debts and expenses. Cornerstone can also help with students loans after proper paperwork and credit checks etc.
Contact your loan provider about getting your loan deferred and they will go over the options that you have.
Student loans can be consolidated after graduation or dropping out of school by filing with the government to consolidate all federal student loans. Remember that non-federal loans cannot be consolidated.
Consolidation loans can be beneficial in some circumstances. If one has a large amount of student debt along with credit card debt they can be rolled into one, meaning just one payment per month. But the interest rates can be large, and not all companies are equal in terms of customer service. We…bsites such as Money Supermarket can be helpful in comparing different consolidation debt companies. ( Full Answer )
A person can find unsecured debt consolidation loans online. Some websites that offer unsecured debt consolidation loans include LendingTree and Prosper.
An unsecured loan would be one where the lender is relying on the borrower's promise that the loan will be paid back. There is no collateral involved and that is risky. Bad debt would be considered consumer debt or one that cannot be recovered.
There are many places that one could get an unsecured loan for debt consolidation. These places include, but are not limited to, Lending Tree, Prosper, and Bank of America.
One could go to the government and they can provide help with these loans. The government does not want children burdened with thousands of dollars of debt.
Student Loan repayments can often blindside a graduate. Consolidating these loans is often not a viable option due to restrictions on these debts. Those looking to consolidate student loan debt should contact firms such as Chase, NextStudent, Wells Fargo or Student Loan Network.
There are two different answers, depending on whether a student is looking for relief from a loan or a person is looking for relief from student loans, which are not generally due and payable while they are still students. Student loan relief is available directly from the lender in the form of cons…olidation or hardship deferment, while for other types of loans a student may be eligible for refinance, deferment by paying interest only or consumer credit counseling depending on the type of loan, the lender, their credit score and their income level. ( Full Answer )
Loans come in many forms, but unsecured loans are generally only allowed for small amounts and are charged at higher interest rates. Tesco bank offer these but a good credit rating is required.
The type of loan available to those with bad credit will differ depending on if you can find an available cosigner as well as past standing with the bank you're trying to get a loan from. You can find a list of some of the better rates available online at websites like Prosper.
It's a good idea to check with several different resources to find the most advantageous deal for yourself. Any bank or credit union you do business with is a good place to start. Also check online sources such as Lending Tree and Quicken Loans.
There are almost twenty million Americans that attend college. Sixty percent of this number borrow loans to finance their studies and therefore struggle with a college student loan debt.
You might be able to obtain forgiveness for a Federal Stafford loanif you get a job in a public interest or non-profit institution.Otherwise, the cosigner is likely to end up footing the bill orsuffer the consequences to their credit.