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It is called Refinance loan, but this is not a loan type this is just a term used to pay existing loan by taking a new loan. Otherwise it is only a personal loan.
If you want to pay your credit card loans, which interest rates are generally very high as compared to personal then this would be a good decision.
If you are planning to take a personal loan, Gosahi com is the best place to get it. Visit gosahi submit your details and you will be welcomed with quotes from major bank, select your best option and the loan process initiates. It's as simple as that.
GoSahi
Wiki User
∙ 13y agoA refinance loan is a loan that is used to pay off an old (existing) loan.
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What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
Can a loan company make you pay for a loan that is 11 years old?
can they make me pay a for loan thatis 11 years old
What is refinancing an existing loan?
Obtaining a new loan to pay off an old loan using the funds from the new loan. Any time you take old money owed and pay it off with new money owed you have refinanced.
What is money that you have to pay back called?
it is known as a loan.
Failure to pay back a loan called?
default
What is the interest you pay for the use of credit called?
Credit loan
What is the signed promise to pay back a loan?
It is called a note.
Who are the micro-lenders and why sometimes are called 'loan sharks'?
because they dont pay
I cosigned a loan for my granddaughter she has filed bankruptcy will her creditors come after you too?
If you are a cosigner on a loan, you are responsible for the debt of the loan if the primary signed defaults on the loan. So, yes you can be called to pay on the loan by the creditors.
You still have finance on your car but like a new car how can you do this?
The amount you owe on your old car is added to the loan on the new car,and that finance company is suppose to pay off your old loan.
How can I pay my mortgage loan on-line?
“How can I pay my mortgage loan on-line?”
Can a bank chase a loan over ten years old?
Depending on the type of loan it was, there may be no statute of limitations--by law. But, if you never did pay up, then by rights you should make arrangements to pay and follow through with it. That is because you used goods and services and need to pay as agreed. it was a personal loan
