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The advantages are
- the ability to own and use a product without buying it outright (utility and limited capital cost)
- the ability to pay for something with less-valuable currency (inflation)
- reduced exposure to capital loss (if what you buy fails, breaks, or is destroyed)
The disadvantages are the cost of credit, the risk of loss to foreclosure (houses and cars), and the need to allocate payment funds over a long period of time. If an item is destroyed, you might still have to pay for it even though you no longer have it.
What else can I help you with?
What is a payment on a loan is divided into equal payments over a set period of time called?
installment debt
What are the advantages of filing for bankruptcy?
The advantages of filing for bankruptcy are different depending on which chapter bankruptcy is filed. Chapter 13 is more for home foreclosure and auto loans, it's advantages allow the person in debt to pay their debt back over a longer period of time and keep the things they have worked very hard for. Chapter 7 advantages are that the person in debt can make payments for less than a year and be debt free and most if not all of the unsecured debt owed can be dropped.
How can I consolidate installment loans into one single payment?
To consolidate installment loans into one single payment, you can consider taking out a debt consolidation loan. This loan allows you to pay off all your existing installment loans and combine them into one monthly payment with a potentially lower interest rate. This can simplify your finances and make it easier to manage your debt.
What are the types of installment debt?
Installment debt refers to loans that are repaid over time through regular payments or installments. Common types include personal loans, auto loans, mortgages, and student loans. Each of these loans typically has a fixed repayment schedule and interest rate, allowing borrowers to plan their payments over the life of the loan. Installment debt contrasts with revolving credit, such as credit cards, where the borrowing limit can fluctuate.
What are the benefits of getting debt relief help?
debt relief optioins are designed to provide much needed relief to individuals or families who are in debt. This relief can be what saves many individuals from financial and emotional turmoil. To a family in debt, debt relief can literally be lifesaving.
What are the advantages of repaying installment debt over a long period?
no
What is a payment on a loan is divided into equal payments over a set period of time called?
installment debt
Why did Beowulf go the the aid of the danes?
He was repaying his father's debt.
What is the largest form of debt installment in America?
boob
This person abolished slavery as a way of repaying a debt in ancient Greece?
Solon
What is Debt management plan responsibilities?
The most responsibility is to manage it. Mean make a plan how will you pay the debt and what the interest will be on it. And if you have installment, then what the installment will that you can manage it and save the money for monthly investment on the <a href="http://www.refreshmoney.ie/debt-management">Debt Management Salary</a>.
What defines your payment history?
the number of late payments, amount of debt, and delay in repaying loans
What if you have only 4 months to pay off your bankruptcy and you default how much of your debt are you required to pay?
You are required to pay what the court decided ! If you're having problems repaying the debt, there's nothing stopping you going back to court and re-negotiating the repayment period !
What are the advantages of filing for bankruptcy?
The advantages of filing for bankruptcy are different depending on which chapter bankruptcy is filed. Chapter 13 is more for home foreclosure and auto loans, it's advantages allow the person in debt to pay their debt back over a longer period of time and keep the things they have worked very hard for. Chapter 7 advantages are that the person in debt can make payments for less than a year and be debt free and most if not all of the unsecured debt owed can be dropped.
Who favored repaying national debt and creating a national bank andpassing whiskey tax?
Alexander Hamilton
What does it mean when you see someone giving money to someone else?
They owe them money and are repaying a debt or are loaning them some.
How can I consolidate installment loans into one single payment?
To consolidate installment loans into one single payment, you can consider taking out a debt consolidation loan. This loan allows you to pay off all your existing installment loans and combine them into one monthly payment with a potentially lower interest rate. This can simplify your finances and make it easier to manage your debt.
