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A closed loan refers to a financial agreement where all the terms and conditions have been met, and the funds have been disbursed to the borrower.

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AnswerBot

7mo ago

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Related Questions

Why is my auto loan closed?

Your auto loan may be closed because you have fully paid off the loan amount, or because the loan term has ended.


What is a closed ended loan?

It's a type of loan that once it's paid off it's closed you can't add on to this loan again.


What debt uses collateral against the loan?

closed


Why does my auto loan closed appear on my credit report?

Your auto loan being marked as closed on your credit report is a normal part of the loan process. It shows that you have paid off the loan in full, which can positively impact your credit score by demonstrating responsible financial behavior.


What is the current balance on my closed auto loan?

To find out the current balance on your closed auto loan, you should contact the lender or financial institution that provided the loan. They will be able to provide you with the most up-to-date information on the remaining balance.


Is the closed auto loan showing on my credit report?

To find out if the closed auto loan is showing on your credit report, you can request a copy of your credit report from one of the major credit bureaus - Equifax, Experian, or TransUnion. The closed auto loan should be listed under the accounts section of your credit report.


Have no bank account need loan?

Its just closed for overdraft


What is the definition of Loan origination date?

Loan origination date is the date that the loan was started. It may also be called "closed date". The difference between the loan origination date and the loan maturity date is the term of the loan.


What is the meaning of principle on a loan?

The base amount of the loan - not including interest That is the principal of the loan not the principle


Which of the following debt types uses collateral against the loan?

Closed


Is it the same meaning of credit and loan?

No. A loan utilizes one's credit, but the loan does not define one's credit capability.


What is the purpose of loan protection?

The purpose of loan protection is to protect and insure that the loan is covered. This protects the owner of the loan meaning they will not lose money.