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What else can I help you with?
If you take out a loan and then you die who pays for it?
Either insurance or the estate. Some lending institutions provide "credit life insurance" which pays off the loan. If that is not part of the loan, the estate will be required to sell assets to cover the loan.
If cosigner pays off a defaulted loan is there a way to have a repossession removed from cosigners credit?
The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.
Will trading in my car have an impact on my credit score?
Yes, trading in your car can have an impact on your credit score. When you trade in your car, the dealership will typically pay off the remaining balance on your loan. This can affect your credit score in a few ways: if the dealership pays off the loan in full and on time, it can have a positive impact on your credit score. However, if there are any issues with the loan payoff or if you end up with a new loan for the new car, it could potentially have a negative impact on your credit score.
What do you call it when someone pays back a loan quickly?
A sudden debt pay off is when someone pays back a loan quickly.
How does it affect your credit if you pay a personal loan off early?
It doesn't hurt your credit to pay off a loan early.
What profession pays off their student loan the quickest?
engineering
Can someone explain what credit consolidation services are?
A credit consolidation service takes the different accounts such as credit cards where you have outstanding balances, pays them off, and provides you with a lower interest rate on a single loan. It is helpful if you have gotten over your head in debt.
How can I use a credit card to pay off a loan?
You can use a credit card to pay off a loan by transferring the loan balance to your credit card or using your credit card to make payments towards the loan. Be aware of any fees or interest rates associated with using a credit card for this purpose.
Why does paying off a loan hurt credit?
Paying off a loan can hurt credit because it reduces the diversity of credit accounts, which is a factor in determining credit scores. Additionally, closing a loan account can shorten the length of credit history, which can also impact credit scores negatively.
How is a primary borrower's credit affected if he or she defaults on a loan but the cosigner pays the loan?
The defaulted debt will become a negative entry on the primary borrower's credit history and will remain for the required 7 years.
Will a credit score be better or worse if you take out an unsecured personal loan to pay off credit card debt?
If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.
How can I take my name off a straw purchase on a car loan?
If you co-signed a car loan you can't take your name off the loan. If you co-sign for someone with no credit or poor credit you are promising to pay off the loan if they don't. The only way to get your name off the loan is to pay it off or have the borrower refinance the loan in their own name.
