0
Loans
Money lent to individuals or businesses in return for interest in addition to repayment of principal. Common types of loans include commercial loans, interbank loans, mortgage loans, and consumer loans.
13,117 Questions
What is the difference between a Term Loan and demand loan?
Demand Loan
Loan with no specific maturity date, but payable at any time. Only interest is paid until the principal is paid off, or until the lender demands repayment of principal. The borrower may, however, pay off the loan early, without incurring a prepayment penalty. If the funds are advanced to a broker, it is referred to as a call loan.
Term Loan
A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years.
Can co-signers name be removed from a student loan?
Many lenders have a co-signer release option! Just ask them.
ADDED: most lenders that offer this option require a history of 2-5 years of consecutive, on-time payments.
Can you lease a car while in chapter 13?
Assuming you mean can the debtor in a Chapter 13 buy a vehicle, the answer is yes - with the court's permission. You must have a completed purchase and sale agreement with all terms completed and the purchase must not adversely affect your Chapter 13 plan. You file a motion with the attached documents, copies to the trustee and any creditor affected by the transaction or who has filed a request to be copied on all documents filed with the court.
What is the average debt of a student loan?
Not sure of average individual student loan, but the average student with student loans has $28,000.
Can you get out of a student loan?
You may qualify for forgiveness for some public service, if you die, or if you become permanently and totally disabled.
Student loans may be discharged in bankruptcy under very extreme circumstances.
For most people, repayment is the ONLY way to make them go away.
Many of us would love to be eligible for free college money, especially Pell grants. These pell grants are the granddaddy of all the free money offered for school in that they do not have a payback date. If you are eligible for a pell grant, congratulations! If not, the following are some great ways to make a checklist and ensure you will be next time around.
Where can you get a loan to pay off your overseas student loan?
Hey, Why dont you go for FAFSA assistance.. they provide good guidance in regards to federal student loan and are legit as well. One of my friend studying at http://www.northclevelandhighschool.com/ applied for loan through their online process and was able to pay it off on time due to the proper guidance they provided him... https://studentaid.ed.gov/sites/default/files/international-students.pdf you can read this out as well for more help.
If you have a personal checking account at a bank in the USA your Financial Institution (FI) may have policies governing the amount of money you can take out at one peticular time. You obviously can't walk in to the bank and request that all of your one hundred thousand dollars be presented with out any prior warning. Every bank's branch suites the needs of its community; if it's members routinely ask for large amounts of money at one time it will keep alot on hand to services their needs. However, many FIs now require customers to sign Large Cash Withdrawal notices thereby eliminating liability if you were to walk away from the branch and your cash was lost or stolen. Your best bet is to call your FI and ask if they require notice of large cash withdrawals.
Can you pay student loan with credit card then file bankruptcy?
Yes you can, as it is consdiered to be unsecured debt.
A basic, rough primer:
BK is always done under FEDERAL Laws, in a Federal Bankruptcy Court. Basically State makes little difference. (Yes the BK Courts operating in certain areas have certain special exemptions and such, minor in the overall, generally intended to make things adhere to the local laws and customs better). Federal Bankruptcy Courts handle cases in their jurisdiction, which is determined without any real regard to State lines or such. There are many, many Districts, made according to what the Feds feel are their needs.
In a personal bankruptcy, YOU go bankrupt. Not a debt, not a loan...not a car...not a house or a this or that. ALL of your assets, of all types, MUST be disclosed and reported in BK, and ALL of your liabilities/debts must be too. No exceptions, no picking and choosing. They are all, always involved in some way.
BK may stall off a foreclosure for a short while, but it is entirely different than one, and will NOT prevent the ultimate loss for long. Which is to say, in simple terms, you either pay for your house AND all the liens against it, or you lose it...there is no magic or legal action that will have a different outcome.
After filing and disclosing everything, the court will then order each of them in priorities according to the laws. Some things may be exempt from use or discharge (like your personal furniture and retirement accounts are exempt and child support and most court imposed fines or penalties cannot be discharged) - and the rest may be used. With one to pay the other. AGAIN - THEY ARE ALL INCLUDED AND LISTED - how or if the BK will effect them is decided by the Court & Laws. (All possible creditors are contacted and asked to say what they are owed....you may be required to even take advertisments out to make sure everyone is notified). Not including everything is lieing to the Court and probably won't have the effect you want anyway.
And think about it...it's on your credit report, ot its on a credit application you made (and that creditor wants to know what happend to it...unless you lied on the application = criminal fraud). Any deal you've done for several years is open to scruitiny and review. The court can reverse them, take them out of the BK, or even have them prosecuted as trying to defraud your creditors. (So, no you can't sell your boat to your brother and then declare BK).
PAYDAY loans, while under the actual law may be denied discharge (as they renew every 30 days and are therefore too close to filing and are considered made in anticipation of BK), because of how abusive and unfair they are, if taken out a bit before filing, most judges will indeed allow them to be discharged - regardless of the many good arguments the lender has.
Virtually all legal penalties and fines can not be discharged as that is against the "public good'...BK is not intended to allow you to avoid paying for your misdeads and avoid the consequences of prior actions of that type. No, it won't lessen your jail term either.
Debts secured by an asset (say a car or house mortgage) have first call or right to the money received from that asset. If it isn't enough to pay the debt, the remainder of that debt becomes a general or unsecured claim against the BK., and has a chance to payment on that level too (albeit a lower priority than those who have yet to receive anything). The end/remaining amount that can't be satisfied is generally discharged by the court...meaning you no longer owe it. You get a fresh basically debt free start....many of those you owe don't get paid what they had expected and relied on, if anything.
There are many other considerations too. BK will severly hurt your ability to get credit for a very long time for example. It is on your credit report for at least 10 years...and employers refer to that too, as do landlords and more. Many do not trust people with bankruptcies in their past, especially in the last few years. Many more things.
That you have done so is actually available to all, as a matter of public court records, for much longer than the 10 years it is on your credit report.
Not disclosing all items is frequently tried and easily discovered, in which case - as you are swearing under oath to the court you included all info - your case is dismissed, and regularly, fraud charges are pursued. (Courts don't take to being lied to well).
Many seem to fall into the trap thinking that they can trick or change or especially shortcut the system, or want to believe what they wrongly understand overrides things (like I don't have to report that asset because it is exempt). It simply ain't going to happen.The courts, Judges, laws, bankers, all those zillions of attornies, etc, have been through this thousands of times for many, many years. The processes are fairly well worked through and prepared for tricks and games. It is unlikely you would discover one that hasn't been tried a zillion times before!The Cos that claim they can change your record, or make magic happen (either before or after BK), are scams, and getting caught doing something unsavory (intentional or not), other than screwing up your bankruptcy filing, is frequently considered and persued criminally. (Think your financial troubles are bad, try adding in criminal ones).
The legal process and system is demanding even for those experienced with it. Many of your creditors will have an attorney to assure they get as much as possible, even groups of lawyers, who specialize only in bankruptcy. Simply you should/better/need to have one too
Do you still have to pay for student loans when you file a bankruptcy?
You report all assets and all liabilities. However, government insured or backed student loans are NOT dischargeable.
Can you be arrested if you dont pay back a payday loan?
No. In the United States, no one can be arrested for failure to pay debts (except child support). However, if the payday loan company obtains a civil judgment against you, they may request supplemental proceedings. If you do not attend the supplemental proceedings, a warrant may be issued for your arrest.
If you are on a deed but not the mortgage are you responsible for the mortgage?
I would wonder how the lender loaned money without the signature of all the owners. However, if the other joint owner granted a mortgage to a lender and hasn't paid the debt then the lender can foreclose on the interest of the borrower. They would then become the owner with you and may be able to force the sale of the property to get their money. That would be costly for the lender. Perhaps you could arrange a deal with the lender to rewrite the loan so you could pay it back.
What do student loan companies look for in a cosigner?
Typically student loan companies look at several things.
1. Does the co-signer have a credit score of approx. 675 or higher?
2. Does the co-signer have enough documented income to take over payments if the student falls to?
3. Does the co-signer have multiple unsatisfied open accounts at this time?
4. Does the co-signer have at least 5-10 years of reported credit (varies by lender)?
Really, looking for government loans and filling out the FAFSA is your best bet. If you must get an alternative or private loan, keep in mind that most college students WILL need a co-signer and that it is your responsibility to work with your co-signer to make sure you are able to handle the obligation of owing xxx amount of dollars to a financial situation. Be sure you make your co-signer aware of all the things above (1-4) so if they aren't able to meet one of those requirements, they don't opt to be your co-signer. Being your co-signer would mean having their credit ran and if they know they won't be accepted, why put your credit at risk.
Hope this helps.
Is h and r block doing Christmas loans for 2012?
is hrblock doing christmas loans and when do they starting them
Can a trustee obtain a second mortgage under an irrevocable trust if the grantor is now deceased?
The trustee must always look to the trust to determine what powers the trustee has in managing the trust property. All the powers of the trustee are set forth in the trust. If the power to mortgage the trust property is not included then a judge would need to make that possible. You should speak with an attorney who can review your situation and determine what your options are.
If a spouse is not on a mortgage loan do they have rights to the house?
The answer depends on the laws in your particular jurisdiction and when the property was purchased.
What are the statue of limitations in Ga for a personal loan?
The statute of limitations in Georgia for personal injury is two years with the discovery rule.
How do you write a letter to bank for education loan?
You can write a letter to a bank for an education loan by first addressing the proper authority, such as the bank manager. You need to explain why exactly you are applying for an education loan.
Are child support liens superior to mortgage liens?
Generally, child support liens take priority in a foreclosure proceeding. Child support liens cannot be wiped out in a bankruptcy proceeding. However, laws vary in different jurisdictions and you didn't explain the situation that is the basis for your question. You need to check your particular jurisdiction and provide more details.
Can a student loan cosigner be retired?
Federal student loans do not need a cosigner. Your Uncle Sam is guaranteeing them. If you are not applying for a federal student loan, but trying to get an alternative educational loan, some lenders, such as Bank One, will review financial information for a retired co-signer, as long as they submit 1099's (certain tax documents) that they have received for the prior two years. Read the FAQ at this site http://www.educationone.com
When filing chapter 7 is a car loan a secured or unsecured claim?
You file BK and it effects all your debts and all your assets. You do not pick and choose what you want included.
A car loan is generally a secured loan, and the security maybe used to pay the debt under the bankruptcy.
If you fall behind mortgage payment in Chapter 13 can they foreclose?
Exactly how many chances do you think you should get? Hey that "they" your speaking about, it may well be my retirement savings....buy what you can afford, pay your bills, or get rid of it and live differently. it is not OK to mis mortgage payments. No everyone doesn't so it....a very, very small percentage of people do. And after getting Chap. 13 protection from having lied originally about how you would pay....to do it again...why not save everyone the trouble and just move out to something you can afford?
Get some financial advice...maybe someone to really sit down and handle things for you....you've asked what now....7 very basic type questions that all indicate you ever relly understood you are actually expected to pay the loans you get and that you buy a lot of stuff....cars, time shares, more and more...you can't afford....nor do you feel you should have to pay for.
What is a lien in regards to a loan?
An IRS tax lien means the IRS is placing a lien against your hours or other personal property. This is usually due to you owing the IRS an amount of money. If you cannot pay it within a certain amount of time, they could put a lien on your property, seize it, and sell it in order to make the money they are owed.
What new deal agencies are still in place today?
Some that still survive are
- Securities and Exchange Commission(SEC)
- Federal Deposit Insurance Corporation(FDIC),
- National Labor Relations Board(NLRB)
- Tennessee Valley Authority(TVA),
- Social Security Administration (much changed since its beginning)
What can be done to a cosigner if a loan is not paid?
You could try to sue the primary in civil court. It may not be possible to actually win a suit until after actions have taken place to actually cause you damages. These damages would include, but are not limited to, a negative credit score, judgment, garnishment, etc.
