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What benefit does the person taking a loan get from taking the loan?
Wiki User
∙ 9y ago
A person who has taken out a loan gets the benefits of financial assistance while building credit. This person is called a borrower.
Wiki User
∙ 9y ago
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Can you get sued on a personal loan if there is no contract or time given for a payback?
Most courts, that I have heard of, need a written "contract" with the person taking out the loan signature.
Can you get a loan from New York Life Insurance Company?
You can get a loan only from a whole life (CWL), Universal Life (VUL, etc) only if there is a cash value available. If you contact your agent you can ask what your available cash value is and then ask for a loan to the cash value. DO NOT surrender the policy because then you will be hit with a tax bill. Taking the money out in the form of a loan will avoid this and you are not obligated to pay back the loan. If you do not pay the loan back then the loan amount is taking out of the death benefit when you die.
Can you get a loan on child tax Benefit?
Try loan express or cashx!
What is an advantage of taking out a loan?
The loan which is taking before certait period of date
What is a Straw purchase on a car loan?
A straw purchase is when someone else signs for a car loan but the loan is being paid by someone else. For instance person "a" has bad credit and person "b"does not. Person "a"signs for a loan under the idea the car is for them, but it is actually for person "b." Person "b" then gives the car to person a to drive as their own. Person b is responcable for payments, but hopes person a will make them. This type of loan is not allowed. If a dealer knows this is taking place, they will not sell the car.
Can someone on social security benefit's cosign for a loan?
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
What might be a disadvantage of taking out a no credit check loan?
One disadvantage of taking out a "No Credit Check Loan" would be that the person taking out the loan may not be able to financially pay back the loan, and will therefore need to offer up collateral if any payments are missed.
What is a benefit of comparing personal loans?
Comparing loans is very important when shopping for a personal loan. One main benefit of loan comparison is that, by looking at several different options, a person in need of a loan can get the best interest rate instead of settling for a higher one.
Can you get sued on a personal loan if there is no contract or time given for a payback?
Most courts, that I have heard of, need a written "contract" with the person taking out the loan signature.
Can you get a loan from New York Life Insurance Company?
You can get a loan only from a whole life (CWL), Universal Life (VUL, etc) only if there is a cash value available. If you contact your agent you can ask what your available cash value is and then ask for a loan to the cash value. DO NOT surrender the policy because then you will be hit with a tax bill. Taking the money out in the form of a loan will avoid this and you are not obligated to pay back the loan. If you do not pay the loan back then the loan amount is taking out of the death benefit when you die.
Can you get a loan on child tax Benefit?
Try loan express or cashx!
What is an advantage of taking out a loan?
The loan which is taking before certait period of date
What is a Straw purchase on a car loan?
A straw purchase is when someone else signs for a car loan but the loan is being paid by someone else. For instance person "a" has bad credit and person "b"does not. Person "a"signs for a loan under the idea the car is for them, but it is actually for person "b." Person "b" then gives the car to person a to drive as their own. Person b is responcable for payments, but hopes person a will make them. This type of loan is not allowed. If a dealer knows this is taking place, they will not sell the car.
Who can benefit from attending a junior college?
Everyone can benefit from attending a junior college. The student can benefit by saving money and cutting back on needed student loan. Also, the person who is paying for the college benfits from a junior college.
Can I claim the benefit of housing loan if the property is in my wife name?
Not if the loan is not in your name.
What are the duties of a guarantor?
When a person does not have good enough credit to secure a loan or financing on their own, they need a guarantor. A guarantor is a co-signer, and that means if the person taking out the loan does not make the payments, then the guarantor has to make the payments.
What is the benefit of using an FHA loan calculator?
There are many benefits to using an FHA loan calculator. An FHA loan calculator can tell someone how much of a loan they should apply for and would be able to pay back. It also tells a person how much a monthly payment would be on any amount of a loan.
