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A bank loan is a note that is repaid over years. A bank draft is only used when you don't have the funds in your account.
I think a bank loan is when money is borrowed from a bank with the expectation that it will be repaid, and notes payable is then the accumulation of all loan amounts expected to be repaid according to each note (the legal document with the stipulations).
loan is a loan on a promissory note secured byMarket where short term loans secured by a asset that pledged as security for repayment of a loan
Contact the bank or finance company that holds the note on this car. They can transfer the loan to you if you qualify.
If you didn't sign the note then you are not responsible for paying the balance. If the loan isn't paid the bank can take possession of the property by foreclosure. That's why the bank required that you sign the mortgage even if you didn't sign the note. See related question link for more discussion of note and mortgage.
no...the note goes back with the bank...your credit is ruined for five years
Bank of America currently has about 57 million customers and spans more than 40 different countries worldwide. One thing to note, some of these people just carry a Bank of America debit card, while others may have a mortgage or loan through the bank.
Amore obvious source of short-term financing is the short-term (usually 90-day) bank note. A short-term loan from a commercial bank carries an interest rate and is payable in full, principal plus interest, on the specified maturity date. Rolling over the debt consists of paying the interest and borrowing enough to repay the principal at the end of the loan period. Doing so provides, in effect, permanent financing at short-term rates (usually less than long-term rates). On the other hand, rolling over short-term debt exposes the borrower to the risk that interest rates will rise during the 90-day life of the loan. Borrowing at a new, higher rate may not seem the bargain that was anticipated at the beginning of the loan program.
Because in former times, your auto loan came with a payment booklet and in the booklet was a series of "notes", which were slips of paper that contained pertinent information about your auto loan that aided in the recording of said payment, that you sent in with your check for your loan payment. A similar term for a loan is a "promissory note" which is a signed debt or IOU.
You have to re-write the loan note with the bank... Banks are not usually very willing to remove the co-signer from a loan, as it cuts the individuals that would be liable to pay off the debt in 1/2. Good luck! You'd have an easier time refinancing the note through another bank.
You have to re-write the loan note with the bank... Banks are not usually very willing to remove the co-signer from a loan, as it cuts the individuals that would be liable to pay off the debt in 1/2. Good luck! You'd have an easier time refinancing the note through another bank.
Yes. Go to a bank where you already do business and ask for a loan using your boat as collateral. If you have the boat title in your possession, the bank will need or require the title be kept by them until the note is paid in full.