Loans

It will be different from final maturity, in case this is an amortising loan.

In essence, you should be looking at this particular term loan as a series of shorter term loans with different final maturities.

So to calculate the average life, you should calculate the average of these multiple maturities weighted by the debt sums (aka debt amortisation sums).

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Say if you have borrowed £100 with semi-annual amortisation over a period of 10 years, £5 is due in 6 months, another £5 in 1 year... another £5 in 9.5 years and the final £5 in 10 years.

In Excel use SUMPRODUCT function to multiply an array of maturities (0.5,1,...,9.5,10.0) by an array of debt sums (£5,£5,...,£5,£5). You'll then divide the result over the total amount (£100). The result should be 5.25 years.

This is a reflection of the fact that your liability decreases over time.

That is absolutely untrue.

Paying off any debt will help your credit score if the payments were on time.

I can't estimate how much your score would improve. I don't know your current score, and each credit bureau uses a differrent formula.

Paying off this debt WHILE IN DEFERMENT will probaly help you in the long run because it will decrease your debt/income ratio. In the short run deferment means you are not required to pay, so for the greatest impact, you will probaly have to call your lender and request your loan be placed back into a repayment status in order for your payments to impact your credit positively and monthly. Otherwise, it is not really considered true credit history you are establishing if you are not even required to pay.

True.

Never cosign a loan.

While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.

There are quite a few uses for a centigram balance. They are mostly used to measure mass in kitchens and laboratories. This includes weighing small food amounts and dry ingredients.

I cannot think of any time when borrowing money that credit is not a considerable factor. So, yes, your credit score is a factor when borrowing money for either a home equity loan or a home equity line of credit.

No. If your state allows payday loans, then a payday lender could sue you civilly for default, just like any other loan. Many states have made payday lending illegal. You would have to research your state by checking with the financial regulatory agency. Payday lenders will often make threats of arrest, etc. That is illegal to do in all 50 states, in violation of Federal law. It is a common tactic to scare you into paying.

It is now known as: CitiFinancial Auto PO BOX 9575 Coppell, TX 75019-9575 1-800-486-1750

Go to fastcashreview.net and see some providers you can use to get a payday loan.

Generally, no. You might be able to "sue your way out" of it, but that takes legal muscle. If you sign a contract, particularly if you co-sign, then you are "on the hook" for the loan or whatever was contracted for. Someone wanted/needed something and could not swing it alone. You came along to help. You both signed and now you want to withdraw from the contract. Sorry, but both parties signed to insure delivery on the terms of the contract. If you want out, something substantial must have changed so that your co-signature isn't required to assure delivery on the contract. Has something changed? Has the other party you signed with suddenly come up with more resources to convince the "other side" that he alone can deliver? If not, then you're stuck. The two of you signed a promise to the other party, and that party expects satisfaction as regards the terms of the contract. You can always try to get things changed, but consider what the other side is looking at. When you take their point of view, be honest. Really put yourself in their shoes and ask yourself the tough questions. Odds are, if you were them, you'd keep yourself on the contract. Good luck in any case.

Never, ever buy a car with an outstanding loan. In fact you cannot transfer the title with a lien on it. Walk away from this deal. It is nothing but trouble.

Yes you can borrow on 401(k) loans, the rates will be comparable to other loans, but there are no regulations on what can be charged for loans, although federal rules do require plans to charge a "reasonable" interest rate. Most companies usually make it easy to repay the loan, and will deduct the payments from your paycheck, and the money goes back into your account. The restrictions on how much you can borrow and on the length of time to repay the loan, it can't be larger than $50,000 or half the balance of your account, whichever is smaller, and it must be repaid within five years, unless used for a home purchase which will allows you to pay out in 10 to 30 years.

No. Once the first mortgage or deed of trust is foreclosed, the second mortgage and any inferior liens are voided.

The same as if they seized it. A repo is a repo, voluntary or not. Your credit is ruined for 7 years. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor

It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car

In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car

Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency

A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment. Remember this repossession will stay on your credit for 7 years.

Same thing happen to me. You have to retun the vehicle or find a loan from another company.

List all of your loans and debts. They are all covered in your bankruptcy.

Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com

Any default is going to stick around for about 7 years.

Repo Rate - also called Bank rate is the rate at which central banks lend loans to the member banks of a country. This rate actually impacts the rate at which these member banks grant loans to their customers

So, In India, The Reserve Bank decides the Repo Rate

No. You must be at least 18 to sign a legal contract. Or you can get someone of age to co-sign the loan.

Your (previous) bank's assets are transferred to another institution. Your mortgage is considered an asset. It is money owed and part of accounts collectible. Someone somewhere will now hold the note, and you'll owe them like you owed your bank.

An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.