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First you send a notice informing the borrower that the loan is delinquent and demand immediate payment of the amount in arrears. If that fails you may have to take them to court. If the loan is backed by a lien on an asset you can take the asset, but depending on where you live you may be required to obtain an order from the court before you are permitted to seize the asset. Otherwise you may get an order from the court for the other party to pay and then you'll have t try to find some assets and petition the court to attach those assets and then for an order allowing you to seize or garnish them. Or you can sell the debt to a collection agency that does this work all the time for a fraction of the face value. If you're not a lawyer, you'll probably do better selling the loan to the collection agency.
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What function in excel takes rate payment and loan amount and outputs a monthly loan payment amount?
The PMT function in Excel outputs a monthly loan payment amount.
A payday loan is a type of what?
Single Payment Loan
What is the monthly mortgage payment on a 250000 loan at 4.5 percent?
For a 30-year loan, the monthly payment will be $1,266.71
Function takes rate payment and loan amount and outputs a monthly loan payment amount?
PMT
How would a balloon payment effect interest on a loan?
how would a balloon payment effect interest on a loan
Where can I find about car loan amortization?
When a loan payment is made towards a loan, a part of the payment is for the interest and part of it is applied to the principal amount. This process of making equal payments to pay off a loan over its life is loan amortization.
How much of a home loan can you get making 54K a year?
<$2K/month payment
If the buyer stop making payment will the co-buyer or the buyer be responsible for the loan?
yes
What factors come into play when making a car loan payment calculation?
Paying a car loan payment is an important thing to do each month. There are many factors to consider when calculating your monthly payment. You should consider how fast you wish to pay off your loan and the rate of interest you must pay if you extend your loan over a number of years.
Does making a longer car loan increase your monthly payment?
yes it does i think so do you think so?
How can you lower loan payment for car?
You can lower your loan payment by refinancing your car loan. You can also negotiate with your current lender and see if he can reduce your payment amount.
Whats loans insurance and how will it benefit your life?
Loan insurance protects you in event of something happening. If you die, your relatives are not responsible for making loan payment. I highly suggest loan insurance to everyone who wishes to take out a loan.
Can a lender report the car to the police for not making the monthly payment on the loan?
They won't call the police, but the vehicle will be repo'd
Function takes rate payment and loan amount and outputs a monthly loan payment amount in excel?
The PMT function in Excel outputs a monthly loan payment amount.
What function in excel takes rate payment and loan amount and outputs a monthly loan payment amount?
The PMT function in Excel outputs a monthly loan payment amount.
A payday loan is a type of what?
Single Payment Loan
What is a loan payment calculator used for?
A loan payment calculator is used for helping you to calculate a monthly payment for any type of loan. You can use it for a mortgage, car, boat, cottage, etc.
