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How do you settled loan not one time basis it should be installment basis?
Wiki User
∙ 15y ago
Few companies have any incentive to settle a loan in installments. If you are going to still want to make payments, why should they give up money?
Usually a loan is settled to gain immediate cash for the lender, not to benefit the debtor.
Wiki User
∙ 15y ago
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What is the installment loan?
An installment loan is a loan that is repaid over time with a set number of scheduled payments. The term of loan may be as little as a few months and as long as 30 years. A mortgage, for example, is a type of installment loan.
What does i8 rating on credit bureau mean?
i = installment loan. 8 = repossession. i8 = repossession of an installment loan (like an auto loan).
What is an installment loan?
An installment loan is a broad, general term that refers to the overwhelming majority of both personal and commercial loans extended to borrowers. Installment loans include any loan that is repaid with regularly scheduled payments or installments.
What describes an installment loan?
Installment loans require monthly payments to pay the loan.
What is the accounting entries for purchasing a car on installment basis?
Credit to Liabilities for the amount of the loan. Credit to liabilitites for the amount of interest on the amount of the loan.(this can be entered monthly to keep better track of) Debit to cash for the amount of the payment made. (this amount should be equal after the payments are completed to the addition of the loan amount and interest.)
What does an installment loan mean?
An installment loan is a loan paid with interest in equal periodic payments, in other words it is a loan that is repaid over time with the set number of schedule numbers.
What happens if you do not pay your check n go installment loan?
The loan will be a default loan
Is an installment loan a good idea?
An installment loan is a good idea,where you don't have to make guesses what payment one has to make every month.
Should you continue having your wages garnished or should you set up an installment plan with your education loan lender?
If you have the option of setting up an installment plan with your student loan lender (or any other lender), that is always a better bet than having your wages garnished.
Is a loan with a lower present value preferable to a loan with a lower periodic installment?
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Is installment credit a continuous loan the borrower must repay?
An installment loan is a loan that is established for a set time frame where the borrower makes consistent payments until the note (loan) is paid in full at the end of the term. A car loan is an example of an installment loan. The loan only continues for the set term (length) and you only make payments during that time frame. At the end of the term, the loan is paid in full.
How do Morris Plan loans work?
Morris Plan loans are made on a monthly repayment basis, with the first month's installment deducted from the face value of the loan and the remaining balance
