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It is called Refinance loan, but this is not a loan type this is just a term used to pay existing loan by taking a new loan. Otherwise it is only a personal loan.
If you want to pay your credit card loans, which interest rates are generally very high as compared to personal then this would be a good decision.
If you are planning to take a personal loan, Gosahi com is the best place to get it. Visit gosahi submit your details and you will be welcomed with quotes from major bank, select your best option and the loan process initiates. It's as simple as that.
What else can I help you with?
What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
Can a loan company make you pay for a loan that is 11 years old?
can they make me pay a for loan thatis 11 years old
What is refinancing an existing loan?
Obtaining a new loan to pay off an old loan using the funds from the new loan. Any time you take old money owed and pay it off with new money owed you have refinanced.
Failure to pay back a loan called?
default
What is money that you have to pay back called?
it is known as a loan.
What is the signed promise to pay back a loan?
It is called a note.
What is the interest you pay for the use of credit called?
Credit loan
Who are the micro-lenders and why sometimes are called 'loan sharks'?
because they dont pay
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
I cosigned a loan for my granddaughter she has filed bankruptcy will her creditors come after you too?
If you are a cosigner on a loan, you are responsible for the debt of the loan if the primary signed defaults on the loan. So, yes you can be called to pay on the loan by the creditors.
What happens when you pay the principal on a loan?
When you pay the principal on a loan, you are reducing the amount of money you owe on the loan. This helps to decrease the total amount of interest you will have to pay over the life of the loan and can help you pay off the loan faster.
You still have finance on your car but like a new car how can you do this?
The amount you owe on your old car is added to the loan on the new car,and that finance company is suppose to pay off your old loan.
