Banks generally wish the client to be 18, though with a co-signer they might.

Credit card companies often give credit cards - with or without a co-signer - to anyone of any age, and at times house pets. They technically require a given age, but somehow reports of accidents keep being reported with regularity.

Pawn shops are generally more strict than banks or card companies. But while it varies by state, many will allow 16 to 18 year olds to pawn property.

Family and friends have no laws on who they can loan to.

As always, consult with an attorney in your local area for an answer more specific to your situation.

The average cost of a student loan per month can vary greatly depending on the amount borrowed, interest rate, and repayment term. On average, monthly student loan payments can range from $200 to $300 for federal loans, while private loans may have higher monthly payments. It's important to check with your loan servicer for specific details about your loan payments.

The law of charges states that like charges repel each other, while opposite charges attract each other. This fundamental principle governs the behavior of electrically charged particles.

The Fair Housing Act of 1968 outlawed redlining, a discriminatory practice of refusing mortgages or insurance based on location. This law aimed to make it illegal to deny housing opportunities to individuals based on race, color, religion, sex, or national origin.

Yes, promissory notes can be legally binding even if not notarized. Notarization is not typically required for a promissory note to be enforceable, as long as the essential elements of a contract are present and the parties consent to the terms.

Collection agencies typically decide to sue borrowers as a last resort, when other attempts to collect debt have been unsuccessful. They consider factors such as the amount of debt owed, the borrower's ability to repay, and the likelihood of successfully recovering the debt through legal action. In some cases, they may also consider the age of the debt and the potential costs associated with litigation.

Yes, Georgia is a non-recourse debt state. This means that in the case of a foreclosure, the lender cannot pursue the borrower for any deficiency balance remaining after the sale of the property.

In some cases, yes, a verbal agreement can be legally binding and enforceable in court. However, it may be difficult to prove the terms of the agreement without written documentation or witnesses. It is generally advisable to put important agreements in writing to avoid misunderstandings and legal disputes.

No, you cannot go to jail for owing payday loans in Colorado or any other state. However, the lender may pursue collections through legal means. Moving to Texas does not eliminate your debt obligation, but the lender must follow Texas laws regarding debt collection.

The highest interest rate allowed by California law is generally 10% per year. However, for certain types of loans, such as personal loans or judgments, the legal interest rate can be higher. It's important to check the specific regulations and exceptions that apply to your situation.

"Pari passu" means equal treatment for all parties involved, typically in the repayment of debts or distribution of assets. "Hypothecation" is when an asset is pledged as collateral for a loan without transferring ownership, allowing the borrower to access funds while the lender retains a security interest in the asset.

The Department of Housing and Urban Development (HUD) provides direct loans for the construction or rehabilitation of housing projects for the elderly or handicapped through its Section 202 Supportive Housing for the Elderly and Section 811 Supportive Housing for Persons with Disabilities programs. These programs aim to provide safe and affordable housing options for low-income elderly and disabled individuals.

It is possible for a person at age 77 to qualify for a personal loan from Scotia Bank, as eligibility criteria can vary. Factors such as credit history, income, and debt-to-income ratio will be taken into consideration during the loan application process. It is recommended to contact Scotia Bank directly to inquire about specific requirements for personal loans.

Financial aid is essential to support individuals and countries facing economic challenges, disasters, or conflicts. It helps in providing food, shelter, healthcare, education, and infrastructure to those in need. The reach of financial aid is global, as international organizations, governments, and non-profit entities work together to provide assistance to vulnerable populations worldwide.

AARP itself does not offer reverse mortgages but provides information and resources about them. Seniors can obtain a reverse mortgage through various lenders approved by the Federal Housing Administration (FHA). It's important to explore all options and seek independent financial advice before deciding to proceed with a reverse mortgage.

Yes, reverse mortgages are typically only available to seniors aged 62 or older. This type of loan allows older homeowners to convert part of their home equity into cash and does not require monthly payments.

Typically, when the borrower on a reverse mortgage passes away, the family or heir can choose to sell the home, purchase it for the amount owed on the reverse mortgage, or walk away from the property. If they wish to keep the home, they will need to repay the reverse mortgage loan in full. However, it's important to consult with a legal professional or financial advisor for guidance on the specific circumstances of the situation.

Yes, a guardian for a senior can take out a reverse mortgage loan on behalf of the senior if they have legal authority to act on their behalf. The decision should be made in the best interest of the senior and with consideration for their financial well-being. It's important to consult with legal and financial professionals before proceeding.

In general, student loans are not automatically forgiven at age 65. However, there are some loan forgiveness programs, such as the Public Service Loan Forgiveness program, that may forgive remaining loan balances after a certain number of qualifying payments. It's important to research and understand the specific requirements of any forgiveness program you may be eligible for.

John Adams refused to pay the bribe and loan, viewing it as an attempt at bribery by the French agents. He reported the incident to Congress, leading to the XYZ Affair and escalating tensions between the United States and France.

Yes, the person who inherited the house can choose to obtain a reverse mortgage on the property, provided they meet the age requirement of being over 62 years old. They would need to go through the normal process for obtaining a reverse mortgage, including meeting with a HUD-approved counselor and receiving the necessary financial counseling.

When a homeowner with a reverse mortgage passes away, the loan typically becomes due. The heirs or estate of the deceased have the option to repay the loan and keep the property, sell the property to pay off the loan, or walk away from the property if the loan balance is greater than the home's value. It's important to contact the loan servicer to discuss the next steps and potential options.

Yes - unfortunately when you cosign a loan - you cosigned a loan and if the owner defaults you are still responsible no matter how old you are. You could check with the lenders but wait until they contact you.

Yes, interest on a loan can be capitalized, meaning that it is added to the principal amount of the loan. This can occur during periods of deferment, when the borrower is not required to make payments on the loan, or during certain stages of a construction project.

Capitalized lease obligations refer to lease agreements where the lessee records the leased asset as a capital lease on their financial statements. This means the lessee treats the leased asset as if it were purchased with a loan, and includes the lease payments as both an asset and a liability on their balance sheet.