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Failure to pay back a loan called?

Updated: 9/17/2023
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Q: Failure to pay back a loan called?
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Related questions

What is it called when you don't pay back a loan?

Failing to pay back a loan is called defaulting on the loan.


What does default refer to-?

the failure to pay back a loan


What is money that you have to pay back called?

it is known as a loan.


What happens if you don't pay back a payday loan in louisville Kentucky can you serve jail time for this?

If you can not pay back a payday loan the account can go into collections until repaid. The payday loan company may also file a claim in court. Failure to pay back a payday loan will not result in jail time.


What is the signed promise to pay back a loan?

It is called a note.


What is the failure to pay back loans?

*A bad idea *A pretty good way to make sure you never get another loan.


Do you have to pay back the loan for repairs on a home?

What you do with a loan is irrelevant. You always have to pay it back.


Do you have to pay back an unsecured loan?

It is probably a good idea to pay back any loan. A loan, by definition, is something being furnished on condition of being returned. If you don't pay it back, it is not a loan. It is stealing.


What is an agreement between a consumer and lender to borrow money and pay it back in increments called?

loan


have fair crediit need a loan with time to pay it back?

have fair crediit need a loan with time to pay it back?


Need a loan but can not pay back?

If you need a loan but can't pay it back, you should not get a loan. You should rethink your 'need' and find another way to resolve it. If you borrow money that you can't pay back, that is a form of theft.


How does a loan and a grant are different?

A loan you usually have to pay back and with a grant as long as you stay within the criteria to have it, you don't have to pay it back.