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loan
Published on April 16, 2008, 10:22 pm
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student loan
Published on April 16, 2008, 10:22 pm
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auto loan
Published on April 16, 2008, 10:22 pm
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car loan
Published on April 16, 2008, 10:22 pm
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home loan
Published on April 16, 2008, 10:22 pm
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personal loan
Published on April 16, 2008, 10:22 pm
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home equity loan
Published on April 16, 2008, 10:22 pm
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payday loan
Published on April 16, 2008, 10:22 pm
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A
loan
is a type of debt. All material things can be lent; this article, however, focuses exclusively on monetary loans. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower.
The borrower initially receives an amount of money from the lender, which they pay back, usually but not always in regular installments, to the lender. This service is generally provided at a cost, referred to as interest on the debt. A borrower may be subject to certain restrictions known as loan covenants under the terms of the loan.
Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding. Bank loans and credit are one way to increase the money supply.
Legally, a loan is a contractual promise of a debtor to repay a sum of money in exchange for the promise of a creditor to give another sum of money.
ali
asked:
"I helped an ex get a motorcycle and now need him to repay me. He needs to take out a loan and repay me or buy the bike from me. His credit is horrible but there has to be places that will still give you a loan. Please help me with advice!"
Question posted courtesy of:
vaneo1 replied:
"How about Gary Coleman with check in cash?"
Wayne W replied:
"Work with the dealer who is selling the bike. They usually can hook you up with a way of securing a loan for a bike. Sometimes even with bad credit."
Tom B replied:
"Who on earth is going to lend money for that? Why don't you suggest he sell it? Motorcycles are not only a loud nuisance, they are usually just a fashion statement rather than a means of transportation. An impractical and expensive luxury item."
jsfnita replied:
"All I can say is, if you own the motorcycle, take it back. If he does, tell him to get a title loan. He can make payments but depends on what he still owes you."
appenzellar replied:
"Most loan companies and bank's won't loan money for an item that is considered a luxury item. A car you can usually get with bad credit because it gets you to work. Motorcycles, Atv's, etc are basically considered man toy's. And yes you can drive a motorcycle to work, but most people don't consider this their primary transportation."
Jak K
asked:
"By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land?Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?"
Question posted courtesy of:
Andrew M
asked:
"My daughter has two very high interest student loans. Her credit won't let her do anything, but I can "refinance" it with me getting the loan using my credit. But is it still a "student" loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the "chain of custody" still makes the new loan interest tax deductable. Hope this made sense and thanks for your help."
Question posted courtesy of:
PepsiLime replied:
"Nope, sorry, but personal loan won't qualify, as you will have nothing in writing to say that it is student loan interest."
mechbasket replied:
"It wasn't that very clear, but from what I understood your co-signing on the loan. She'll pay for the loan's premium and interest. and that's about it ... Remember: Who ever pays the student interest, that person will have the right to deduct those interest payments on their tax return (up 2,500). The only thing that I can figure that will absolutely confirm that you are paying a student loan is that if at the beginning of the tax season, you receive a 1098-E "Student Loan Interest Statement" from your Lender."
Whats my Name replied:
"You post your profile on this webiste and then lenders come to you. I recommend trying"
delicious
asked:
"What's a perkin's loan? What's a direct loan? Private loan? I don't understand the whole process! What loan would have the lowest interest rate and is best overall? I will be attending University of California Santa Cruz. I don't know where to begin with the whole loan process. I currently have no credit history, etc. Help?"
Question posted courtesy of:
danny replied:
"All types of loans are available for students,employees and retired persons.Worldwide banks are ready to provide the loans for all.See the website below and apply your required throe on line."
cici replied:
"Well the best loan is the kind you do not have to pay back. there are plenty of scholarships out there FASTWEB.COM is just one web site that could lead to some more money. Also ask your school about grants that you may be available to you some schools have scholarships that they give out as well. And if you are a resident of California and have been I believe there is a very good grant that would help substantially. Just don't be afraid to talk to financial aid people and defiantly be pushy with them cause if you never call back they won't either. School Counselors can also help. Oh and FILL OUT YOUR FAFSA. The school should take care of the rest."
OrangeKitten replied:
"To get started, you fill out the FAFSA. This is no joke, fill it out NOW then look at your options. Financial aid offices will not even talk to you unless you have your FAFSA completed. You can fill it out online so there's no excuse!"
orkut m replied:
"It will differ from country to country , the best way is the comparison"
Student Loans replied:
"Congratulations on deciding to attend college at UCSC, my relatives live in the area of the University and I've heard it is really quite a school!When it comes to Student Loans there are two options that you could pursue, Federal Student Loans and Private Student Loans.Federal Student Loans come in two different forms, the Federal Stafford Loan and the Federal Perkins Loan. The Federal Stafford Loan is split into a Subsidized and an Unsubsidized Loan issued at a 6.8% interest rate. The Federal Perkins Loan is issued at a 5% interest rate and the school you are attending is the Lender. All of these types of loans are need based not credit based; you must fill out the FAFSA form in order to see how much you qualify for.Private Student Loans are credit based loans; these are usually serviced by the Lender, meaning you are responsible for paying the company you applied for the loan with back. For more information on Federal Student Loans and the difference between Subsidized and Unsubsidized Loans please visit the source below. I hope this helped shed a little light on the subject for you. Good luck!"
Paul M replied:
"You might not like this answer, but I feel compelled to share with you what a leading personal finance expert says about this in his FAQ:"
Ted M replied:
"try a stafford loan -- rates are good right now. also make sure to apply for every scholarship out there."
Marie T replied:
"Getting a government grant would be the best route to take, because you never have to pay it back as you follow through with your plans!"
Emily
asked:
"I had a federal student loan which I consolidated about 8 years ago to someone who eventually sold that loan to Citibank. I pay about 8.35% in interest. I am considering paying off that student loan with a personal loan where I can get a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?"
Question posted courtesy of:
bostonianinmo replied:
"Nope. It will no longer be a student loan then. You may be able to consolidate several student loans into another student loan at a better rate, but if you pay it off with a personal loan you'll be left with a non-deductible personal loan."
Business credit is one of the ways that a banker can determine your FINANCIAL HEALTH. Without good business credit growing your business is terribly difficult. Business credit is required for a small business to establish credibility. Lenders will not lend so much to new business, and they normally do not grant loans to start-up enterprises
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Three government-controlled banks will offer low-interest loans to local small and medium enterprises (SMEs) suffering typhoon damages and losses in a bid to finance reconstruction, according to banking sources.
