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Small claims court.
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What does default mean in personal finance?
Failure to repay a loan
Can you borrow against an outstanding loan?
No ... because you have no collateral to borrow against. If you are a homeowner, and have built up a fair amount of equity from years of making payments, you could borrow against that. Lenders will require some sort of guarantee that in the event you decide not to repay them, they would have legal recourse to collect the monies owed them.
What is non-recourse lending?
Non-recourse lending is made available as a loan in which the borrower is not personally liable. For instance, in the pre settlement funding realm, a plaintiff involved in a lawsuit can get a non-recourse based cash advance for their lawsuit. In this scenerio, the plaintiff or applicant for the non-recourse advance is only contigent to repay that advance back once the case is settled or won. In the event the case is lost, there is no need to repay that advance as that is the risk taken from the firm handling the advance. These are typically lent when there is high capital expenditures, long loan periods, and uncertain revenue streams from the loan itself. The rates can be much higher due to the risk involved for the lender, obviously.
A default in personal finance is called what?
Failure to repay borrowed money in a timely manner is called.
What does it mean if a bank asks you to get someone to cosign for you?
they want your parents or another responsible adult to say they will repay the loan if you can't .
Can a bank take your personal property if you can not repay a line of credit?
Yes if it is charged to the bank. Otherwise through legal proceedings.
Is it legal to refinance a home in VA?
Yes. It is legal to refinance a home in VA. The purpose of refinancing is to repay your old loan with a new one. It might be a great idea for someone looking to file bankrupcy.
What describes bankruptcy?
a legal declaration that you are unable to repay your debts
What does default mean in personal finance?
Failure to repay a loan
What does it mean to earn something?
to earn something means if you helped someone or did something someone will u repay u and that means you earned what ever you got in repay.
Can you borrow against an outstanding loan?
No ... because you have no collateral to borrow against. If you are a homeowner, and have built up a fair amount of equity from years of making payments, you could borrow against that. Lenders will require some sort of guarantee that in the event you decide not to repay them, they would have legal recourse to collect the monies owed them.
What is non-recourse lending?
Non-recourse lending is made available as a loan in which the borrower is not personally liable. For instance, in the pre settlement funding realm, a plaintiff involved in a lawsuit can get a non-recourse based cash advance for their lawsuit. In this scenerio, the plaintiff or applicant for the non-recourse advance is only contigent to repay that advance back once the case is settled or won. In the event the case is lost, there is no need to repay that advance as that is the risk taken from the firm handling the advance. These are typically lent when there is high capital expenditures, long loan periods, and uncertain revenue streams from the loan itself. The rates can be much higher due to the risk involved for the lender, obviously.
If you receive a personal injury settlement do you have to repay your creditors the total amount owed to them?
yes.
What is a written promise to repay?
A written promise to repay is called a promissory note. It is a legal document where one party (the borrower) agrees to repay a specific amount of money to another party (the lender) according to agreed-upon terms and conditions.
A default in personal finance is called what?
Failure to repay borrowed money in a timely manner is called.
Is there any legal requirement to pay back legal aid in nz?
There is a legal requirement to pay back legal aid in the country of New Zealand. When the person receiving the legal aid has lied about their financial situation, they are required to repay the legal aid provided.
Are payday loans legal in New Mexico?
what action cn be taken against you if you dont repay a payday loan
