0
What else can I help you with?
Can you provide an example of secured debt?
Secured debt is a type of loan that is backed by collateral, such as a house or a car. If the borrower fails to repay the loan, the lender can take possession of the collateral to recover the debt. An example of secured debt is a mortgage, where the house serves as collateral for the loan.
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 makes a loan a secured loan?
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.
If your house is repossessed due to a secured loan and there is not enough equity to pay the loan what then happens to the secured loan?
You will be liable to pay the debt outstanding.
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.
Can you provide an example of secured debt?
Secured debt is a type of loan that is backed by collateral, such as a house or a car. If the borrower fails to repay the loan, the lender can take possession of the collateral to recover the debt. An example of secured debt is a mortgage, where the house serves as collateral for the loan.
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 makes a loan a secured loan?
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.
What does secured loan?
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.
If your house is repossessed due to a secured loan and there is not enough equity to pay the loan what then happens to the secured loan?
You will be liable to pay the debt outstanding.
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.
Can a loan company apply for an order to repossess property it is not secured on?
No they can not, it does have to be a secured ( that's the key word ) debt
Which of the following is an example of secured debt?
credit card
how do you settle creidtor claims?
The Department of Education can provide assistance when looking to settle a student loan debt. They can terminate or suspend loans. www.studentloanborrowerassistance.org
Where can you get assistance with home loan debt consolidation?
One can find assistance with home loan debt consolidation at one of the following financial institutions. Bank of America, Quicken Loans, Wells Fargo, and B B & T Debt Consolidation.
What are the different types of secured debt?
The different types of secured debt include mortgages, car loans, and secured personal loans. These debts are backed by collateral, such as a house or a car, which the lender can take possession of if the borrower fails to repay the loan.
What are the benefits of obtaining a debt consolidation secured loan?
Obtaining a debt consolidation secured loan can help you combine multiple debts into one, potentially lowering your overall interest rate and monthly payments. It can also simplify your finances by having only one payment to manage. Additionally, a secured loan may offer lower interest rates compared to unsecured loans, making it a cost-effective option for managing debt.
