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What else can I help you with?
Can my car be repoed because I don't have driver license?
No. Repo (or repossession) occurs only when payments are not made on a car loan, or if a collateral conversion is done by a lender with whom you have another unpaid loan, or if the courts permit a collateral conversion in the event of an unpaid judgment.
I hold the security interest on a vehicle. How can I repossess this vehicle?
YOU NEED TO DEFINE YOUR SECURITY INTEREST, MEANING THE COLLATERAL IS OR WAS A PART OF COMMUNITY PROPERTY. IS YOUR NAME LISTED ON THE TITLE ALONG WITH ANOTHER PERSON OR ARE YOU LISTED AS A SECURE LIEM HOLDER?
Does having a cosigner lower the interest rate?
The cosigner can be held responsible for the loan if the original signer does not repay. Thus, the creditor has another means of access to the money, similar to collateral, and thus the presence of a cosigner lowers the interest rate.
What is a disadvanageof dept financing?
The main disadvantage of debt financing is that it requires a small business to make regular monthly payments of principal and interest. Very young companies often experience shortages in cash flow that may make such regular payments difficult. Most lenders provide severe penalties for late or missed payments, which may include charging late fees, taking possession of collateral, or calling the loan due early. Another disadvantage associated with debt financing is that its availability is often limited to established businesses.
What does pledge or assign interest in the property mean in a land installment contract?
In a land installment contract, pledging or assigning interest in the property refers to the buyer's ability to use their equitable interest in the property as collateral for a loan or to transfer that interest to another party. This means that while the buyer is making payments and has not yet gained full ownership, they can still leverage their rights under the contract. This arrangement can help buyers secure financing or facilitate a sale of their interest before the contract is fully executed. However, it is important for buyers to ensure that any such actions comply with the terms of the contract and applicable laws.
Can you refinance a car loan after the car has been totaled and repossessed to get lower payments?
NO. You no longer have collateral to secure the loan. Unless you are willing to use real estate or another vehicle that is fully paid off and owned for security.
What happens when you do a balance transfer?
When you do a balance transfer, you move debt from one credit card to another with a lower interest rate. This can help you save money on interest payments and pay off your debt faster.
What are some strategies for avoiding paying interest on a mortgage?
One strategy to avoid paying interest on a mortgage is to make larger down payments, which reduces the amount borrowed and the overall interest paid. Another strategy is to choose a shorter loan term, such as a 15-year mortgage, which typically has lower interest rates. Additionally, making extra payments towards the principal balance can help reduce the amount of interest paid over time.
Where can someone get a flexible secured loan?
A flexible secured loan is a loan instrument that is backed-up by a collateral, usually a property. Another variation for this kind of loan is the Home Equity Line of Credit, whose interest rate is usually tied to the prime interest rate.
Can a client with written off accounts avail another loan?
It would be highly unlikely and if it were to be considered it would Very likely be a very high fees & interest rates of return or with considerable collateral requirements.
What is another word for collateral?
complementary, secondary, corresponding, parallel
Can one LLC loan money to another LLC?
Yes, one LLC can loan money to another LLC. This type of transaction is common among businesses and can be structured with a formal loan agreement outlining terms such as interest rates, repayment schedules, and collateral.
