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Secured debt is a debt that is guaranteed by the use of collateral. If the debt is not repaid, the creditor has the right to take the collateral from the borrower.
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What does it mean when a debt or a loan is personally secured?
When a debt or loan is personally secured, it means that the person who took out the loan has used something as security in case they default on the loan. A mortgage is an example of a secured loan.
What does secure loans mean?
A secured loan is a loan in which the borrower declares an asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who issues the loan. The debt is thus secured against the collateral - in the event that the borrower defaults on the loan, the creditor takes possession of the asset used as collateral and may sell it to satisfy the debt by regaining the amount originally lent to the borrower.
What does the concept of fractional ownership mean in finance?
In finance the concept of a fractional ownership means partially owning and sharing by at least two different people. Its something that is usually done when taking the full financial responsibility would be too much for a single person to bear.
What does a secured site mean?
it means its secured and you cant get into it!
What is the possessive form of the word FINANCE?
The possessive form for the noun finance is finance's. However, the term finance is a concept noun. The noun as a possessive would only be used as the study or field of finance.* It is possible to use the plural noun "finances" to mean someone's personal financial dealings. In that case, the plural possessive could be used, as in His finances' collapse led to his breakdown. However, the adjective form is probably better (His financial collapse) or the avoidance of the possessive (The collapse of his finances).
What does it mean when a debt or a loan is personally secured?
When a debt or loan is personally secured, it means that the person who took out the loan has used something as security in case they default on the loan. A mortgage is an example of a secured loan.
What does secure loans mean?
A secured loan is a loan in which the borrower declares an asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who issues the loan. The debt is thus secured against the collateral - in the event that the borrower defaults on the loan, the creditor takes possession of the asset used as collateral and may sell it to satisfy the debt by regaining the amount originally lent to the borrower.
What does the concept of fractional ownership mean in finance?
In finance the concept of a fractional ownership means partially owning and sharing by at least two different people. Its something that is usually done when taking the full financial responsibility would be too much for a single person to bear.
What does a secured site mean?
it means its secured and you cant get into it!
What does relief from stay mean in legal terms?
When a bankruptcy is filed, an automatic stay takes effect, which prohibits any creditor or debt collector from taking any further action to collect any debt owed by the debtor. Secured creditors who believe the debtor will not be able to continue making payments on their debts (mortgages, car loans, any secured debt) can ask for relief from stay to be allowed to foreclose or repossess, or otherwise claim and sell the security.
In Indiana can you go to jail for unpaid credit card debt?
A debtor cannot be criminally prosecuted for unpaid debt unless he or she incurred said debt fraudulently.It is a myth that creditors (credit card issuers) do not have recourse to collect the debt owed. Credit cards are considered unsecure debt because their is no specific collateral attached, such as a vehicle. The creditor can file a civil suit against the debtor and if awarded a judgment can execute it in the manner allowed by the judgment debtor's state.Some ways of collecting a judgment are, garnishment of wages or levy of bank accounts or seizure and sale of unexempt personal property or a lien against real property owned by the debtor.What Does Unsecured Debt Mean?A loan not secured by an underlying asset or collateral. Unsecured debt is the opposite of secured debt.The concept of unsecured debt is easily understood when its opposite is considered. A good example of secured debt would be a mortgage. The bank loans out money to a lender who uses it to buy a house; the house becomes the asset backing the loan.In the case of unsecured debt, a lender loans money without the security that an underlying asset provides. For this reason, unsecured debt carries more risk for the lender, which in turn makes the loan more expensive. The more additional risk that a lender must take on, the higher the rate of interest a borrower must pay, making unsecured loans subject to higher rates.Hope this helps
What does fixs mean?
The meaning of fixed is to fasten in a secured position.
What is the possessive form of the word FINANCE?
The possessive form for the noun finance is finance's. However, the term finance is a concept noun. The noun as a possessive would only be used as the study or field of finance.* It is possible to use the plural noun "finances" to mean someone's personal financial dealings. In that case, the plural possessive could be used, as in His finances' collapse led to his breakdown. However, the adjective form is probably better (His financial collapse) or the avoidance of the possessive (The collapse of his finances).
What does cordon mean in military terms?
secured area
What does trade credit mean in terms of finance?
In terms of finance the term trade credit refers to credit is given for a certain term that is agreed upon between the borrower and the lender. If the amount of payment due is not paid by the agreed upon term then the lender has the ability to sell the goods to pay back the debt.
What does hit the black mean?
its when you are in debt and you come out of debt when you get money.
What does debt outstanding mean?
That u payed your debt in full
