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Yes, sometimes. Depending on what it is for, you might be able to get a loan just based on past credit history (showing that you pay your debts), or if you pay a large deposit up front (usually with renting an apartment). In India, you can get a loan without any collateral but you will have to get a guarantor who puts his collateral on his risk for you, or else chances are few.
If you need a loan but can't pay it back, you should not get a loan. You should rethink your 'need' and find another way to resolve it. If you borrow money that you can't pay back, that is a form of theft.
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
An example on how a bank uses its money Example: $100/100%/deposit When a deposit is made, 10% is held in reserve. The other 90% is loaned out. A bank can loan some money to another bank or loan it to someone who promises to pay it back. Through the loan, it recirculates and gets reused in the economy.
The office who loaned you the money keeps the title until you pay the loan back in full. It's kept for security purposes. If you one day refuse to pay the loan back the office who loaned you the money can keep your car to satisfy the loan.
If you are on social security you should not be cosigning on a student loan. You would be guaranteeing that if the student doesn't pay off the loan you will. The federal government can garnish your social security benefits to recover student loan payments.
Signing the lease and paying the security deposit are two separate issues. Furthermore, if you don't pay the security deposit then you could be in violation of the lease terms and be evicted if the landlord chooses. Normally you pay the security deposit before you and your landlord sign the lease, or work out a payment plan that you and your landlord agree to. If your landlord agreed to allow you to skip the security deposit then that part of the lease is waived and the rest of the lease stands.
Yes, sometimes. Depending on what it is for, you might be able to get a loan just based on past credit history (showing that you pay your debts), or if you pay a large deposit up front (usually with renting an apartment). In India, you can get a loan without any collateral but you will have to get a guarantor who puts his collateral on his risk for you, or else chances are few.
There are some agencies that help in this manner, but you will have to prove need and, perhaps get on a waiting list. It is better for you to plan how you will earn the money and save to pay the deposit. This is a useful skill to have.
When you fail to pay for something that is security for the loan.
dont unless you reallly have a lot of money to spare and dond do it with a credit card
For down payments absolutely. Any money pre-paid on an asset that will be purchased with either lease or loan, will reduce the total debt due. This reduces the monthly obligation (cash going out) and reduces the total interest amount paid over the duration of the loan. A security deposit is completely the opposite. The money paid into a security deposit accumulates interest money for them, not you. It also doesn't reduce your debt to them so you pay more in interest. You will also pay more per month because the total due is higher. I have never paid money into a security deposit in 40 years of business and never would. I have however paid 50% or more towards a down payment.
yes
security deposits protect the landlord if the tenant fails to pay rent or causes damage to the rental premises beyond normal wear and tear. a renter can not choose to pay rent with any portion of that deposit.
yes
I don't think so, I don't believe any Landlord has the legal right to demand a Security Deposit be payed twice. I suggest you seek legal counsel.
No, a representative pay will not be able to get a loan for a child's social security disability check.