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What else can I help you with?
Are car loans considered unsecured debt?
No, car loans are considered secured debt because the car itself serves as collateral for the loan.
How do you stave off wage garnishment on loans secured by a theft of your identity?
In the US, if you have student loans in garnishment, you can rahabilitate them for 12 months or you can consolidate them.
Is 50k in student loans considered a significant amount?
Yes, 50,000 in student loans is generally considered a significant amount of debt for most individuals.
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
Is a student loan considered a secured loan?
No, a student loan is typically considered an unsecured loan because it is not backed by collateral like a house or car.
Are car loans considered unsecured debt?
No, car loans are considered secured debt because the car itself serves as collateral for the loan.
How do you stave off wage garnishment on loans secured by a theft of your identity?
In the US, if you have student loans in garnishment, you can rahabilitate them for 12 months or you can consolidate them.
Is 50k in student loans considered a significant amount?
Yes, 50,000 in student loans is generally considered a significant amount of debt for most individuals.
Why do many banks consider student loans risky investments?
Student loans are risky for banks to give out because most students do not have credit and thus cannot be trusted definitively to pay back loans. Additionally, students generally do not have personal property the bank can claim when loans aren't paid back.
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
Is a student loan considered federal?
In the U.S., student loans can be Federal or Private.Stafford, PLUS, and Perkins loans are Federal. Most others are private.
Is a student loan considered a secured loan?
No, a student loan is typically considered an unsecured loan because it is not backed by collateral like a house or car.
Where can one get a secured loan?
Most banks will offer secured loans as part of a savings or CD plan. Car/title loans and payday loans are effectively secured loans with the vehicle and the check draft serving as the security.
Where can one find rates for secured loans?
One can find rates and reviews for secured loans in bank websites. Also, one can find rates and reviews from peers who might have needed secured loans.
Where can one find secured loans in the UK?
Sources for secured loans in the UK are varied and not hard to find. Nemo Personal FInance, Prestige Finance, and Shawbrook Bank are the top three institutions for secured loans. Many other smaller personal finance companies offer secured loans as well.
Are secured loans not credit cards looked at any differently than unsecured loans when applying for a mortgage?
Because secured loans are loans that are secured on your property, they are looked at totally differently when applying for a mortgage, in most cases the mortgage lender will probably want you to repay the secured loan before approving your mortgage
How do secured home improvement loans differ from other loans?
Home secured loans have a higher maximum term than other loans. Lower interest rates, flexibility, lower payments and more lender options are benefits of a secured home improvement loan.
