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What else can I help you with?
Is it Usury to allow a person to pay a fine on credit without knowing if they can afford it?
Usuary is the practice of charging interest on a loan. If a person pays a fine on credit, this suggests the use of a credit card, and credit card companies charge interest (generally at a very high rate) so usury is involved. Whether the person paying the interest can afford to pay, or knows if they can afford to pay, is not relevant to the issue of whether it is usury, although it would be relevant to other issues, such as, is this a good idea?
Can you explain bad credit loans to me?
I think they do work with high interest rates. They will give you the money you need but with higher interest than someone with good credit would have. But it can also help you if you can afford it.
Carrie could only afford to pay interest charges on her 4700 credit card balance If she paid 2350 in interest every month what was her annual interest rate?
5%
What happens to the interest rate on your credit card if you've filed for Chapter 7 Bankruptcy?
If the credit card was included in the Chapter 7, nothing happens. The account will be closed by the creditor and the amount owed including any accrued interest is wiped out.
What are the benefits of making 24 month interest free credit card purchases?
Making 24-month interest-free credit card purchases can help you spread out payments over time without accruing interest, making it easier to afford big-ticket items or unexpected expenses. It can also improve your credit score if you make timely payments.
When you pay with a credit card do you pay interest?
To have interest on a credit card bill, you must have not paid a bill in full. When this happens, on your next bill, it will inform you that you must pay your current bill, the remainder of your last bill, and a certain amount of interest.
How can I take advantage of 0 interest on credit cards?
To take advantage of 0 interest on credit cards, pay off your balance before the promotional period ends to avoid accruing interest charges. Use the card for purchases you can afford to pay off in full each month to avoid accumulating debt.
What happens to the loan after the car is repossesed?
After the vehicle is repossessed then the financial organization is notified of its recovery but the amount of the loan is cancelled except for the outstanding arrears, the taxes, wear and tear on the vehicle charge, the cost of repossession, travel charges and mileage and compounding interest on the outstanding amount. They then call the credit bureaus and report the transgression and the credit ratings are adjusted accordingly.
What happens if you cannot afford to pay your credit cards?
You'll be hounded by collection agencies, you'll receive a bad credit score, and you may be taken to court if you have a sufficient enough debt.
What happens to unpaid expired credit card?
Only the card expires, not the line of credit it is attached to. So interest will still accrue on the unpaid debt.
How do you afford a loan?
Avoid maintaining bad credit history, without fail we have to pay back our loans interest every month. Always try to apply loans with secured credit cards and try to maintain credit scores in higher levels.
What are the disadvantages of buying on credit?
Purchase of items one cannot really afford and may not really need. Payment of interest, which can become excessive due to length of contract, interest rate, size of payments, etc.
