Small Business Loans
If a business loan has your house as collateral what happens if you stop paying payments to the bank?
Asked in Personal Finance, Loans, Money Management
What happens if collateral used for loan is sold before the loan is repaid?
Can a soon-to-be-16-year-old get a car loan if he does not have a job?
No! You would have to have your parents cosign for you. Having a fairly good paying job, owning a boat, condo, house, property is classified as "collateral" and the loan is put against that. The reason for this is if you choose not to make your car payments or can't make your car payments then the bank will take whatever collateral you have put against the loan. The bank is in the business of lending, but also getting their money back! Marcy
Asked in Repossession, Personal Finance, Loans, Student Loans and Financial Aid, Personal and Payday Loans, Money Management
If you pay 13000 of a 15000 loan is that taken into consideration when you stop paying?
All payments are considered when you stop paying on a loan. However, when you default on the contract, it is the contract on which you are paying. The collateral only secures the loan, and if there is collateral, it may be secured (repossessed) to be sold to be applied to the balance. If you only owe $2000 on a $15,000 loan, the collateral could be worth a substantial amount. The lender may choose to sell the property for only the owed amount and fees. If so, you are out the remaining value of the property. If the lender wishes, they may choose to sell it for its fair market value, and anything in addition to what is owed should be returned to you.
Corporations have shareholders that invest in their business and expect a portion of the business's profits in return. Dividend payments are part of the shareholders' returns for investing in a business. Corporations have a choice to either reinvest their profits in shares, or keep a portion of the profits and paying shareholders dividends.
Asked in Repossession, Credit and Debit Cards
What happens when you are paying and they say it is not enough?
Asked in Science
What are the functions of accounting explain?
A business involves many financial transactions, the main ones being paying bills, receiving payments (for whatever product or service is sold by that business), paying employees, paying taxes, and if things go well, paying dividends to investors or stockholders. There are all sorts of rules and techniques needed to correctly keep track of all these things, which constitute the practice of accounting.
Asked in Retirement Planning, Social Security
When did social security begin paying disability payments?
Asked in Custody, Child Support
What happens if the father is not paying his court ordered child support?
Asked in Child Support
What happens if the mother is not paying court ordered child support?
Asked in Child Support, Criminal Law
What happens to child support payments if the father is jailed?
If the father was paying you directly, the payments will, of course, cease. If this is the case you must contact the state for assistance. If you were receiving the support payment from the state, then nothing will change and his payments to reimburse the state will become an obligation/lien against him for which he will eventually have to pay the state back.
What is the highest paying Bachelors business job?
Asked in Salary and Pay Rates
What is a high paying job that is associated with photography and business?
How do you prevent your home from going in to foreclosure?
Asked in Cars & Vehicles
Can you be arrested for not paying your car payments?
Asked in Cars & Vehicles
If you send two payments every month do you pay interest on both payments?
Effect of persistent deficit in balance of payments?
Asked in Insurance
What happens to the payments you have already made if you need cancel your policy?
Your policy contract will state what happens to your payments if you cancel. In the worst case you may not be able to cancel in the best case you will have to pay pro- rata for the length of time you policy has run + a cancellation fee + an administration fee. Please understand in many cases the payments are to a finance company (who payed the upfront insurance premium to the insurer) and in this case the payments are NOT linked to the policy - you can't just stop paying - in effect you took out a loan.