Archive for the ‘Unsecured Loan’ Category

If you've a personal unsecured loan but default(don't pay it back)what can a bank do(aside from credit rating)?

Sunday, October 30th, 2011

I guess they can’t take anything you own in lieu as the loan is unsecured? I’m not doing this, repaying loan in full, it’s being "restructured" but just wondering in general what happens if someone say, nah, f it.
Take money from someones salary? But most likely the person, I stress not me (honestly), would have moved to another bank. So to get their hands on anything I guess the original bank would first have to get a court order and that takes time and costs (the bank)
I wonder what if the bank was responsible for what’s termed reckless lending, in that they didn’t initiate proper checks prior to issuing the loan? Of course it could laways be argued the applicant didn’t think as to whether they could afford repayments but perhaps they could have at the time but circumstances chaged, as they do and as can be often unforeseen. As I said this ain’t about me, the loan I have is being repayed with interest having been "restructured". But I think many even after a restructuring cannot pay their debts. Pity banks didn’t think of their duty of care to their shareholders before engaging in so much reckless lending.

Accounting treatment : Bad Loans : wether deductible expense?

Saturday, October 29th, 2011

Ours is a private limited company primarily into Advertising business and have advanced unsecured loan to a firm to the tune of Rs. 10,00,000/-
This loan has turned bad and no chances of recovery.
What is the accounting treatment to write-off this bad loan?
Is this expense of Rs. 10 lakh deductible expense from Income tax point of view.

Please guide me on the above issue

How can I get a 150k to 200k loan?

Saturday, October 29th, 2011

I was wonder if anyone can tell me how to get a 150k to 200k unsecured personal loan. I prefer not to deal with any banks. My credit is not the best. I am trying to get on my feet, and start my life. I am 29 years old I have never moved out of my mothers home, and never even owned a car. This is a desperate cry for help. This means the world to me, so if you cannot help me please do not leave an answer. This is very serious business to me. I have no problem paying the money back. I just need a boost. I am looking for someone who is willing to take a chance on me, and know that I will not let them down. I also don’t need to jump through a lot of hoops, there is no time for that. (paperwork) Please Help!!!

What is considered unsecured debt?

Wednesday, October 26th, 2011

I was wondering if, specifically, school loans are considered to be unsecured? I am assuming so- but not entirely sure.

Rescheduling my loan agreement with my bank but loan agreement says one thing & the loan officer says another?

Tuesday, October 25th, 2011

Had been paying x amount for a couple of years but as money got tighter renegotiated the amount I repay weekly, that was done informally for 1 year and now is being put on a contractual basis. However the loan agreement instead of being repayable over say x number of years is now according to the contract to be repaid at x amount for 12 months and then a big lump sum in 12 months time.

Loan officer who’s very friendly is saying to disregard that, that it just has to worded like that when in fact the 12 month agreement will simply be re-done every 12 months. Issue for me is that I’m actually signed a contract which doesn’t stipulate this, in fact it says the very opposite, that after 12 months the outstanding amount is due to be paid in one installment. Won’t be able to do that should they decide later to enforce the contract despite any verbal assurances they’ve made to me.

It’s an unsecured personal loan in my name (I’m married but the loans in my name) Don’t have any substantial assets such as a house, car etc so nothing can be seized. We’re both mature adult students. Maybe becaue the loan is unsecured nothing could be seized in any case, not sure but that’s not my main concern now anyway. What to do I wonder, sign or make sure the contract reflects what is being informally told to me? Thanks.

I am looking for an unsecured loan where I don't have to put money up front first?

Tuesday, October 25th, 2011

I have very poor credit and I am really needing a loan that is unsecured because I don’t have collateral or co–signers or money for upfront fees so I need the loan to be giving with my trust to repay monthly without me paying for it up front. I am trying to pay off bills and get a fresh start. I am in a really desperate way so I am hopin that someone will help me with thi loan.

Unsecured loan i can no longer pay.

Tuesday, October 25th, 2011

Have been paying off a 30 per cent loan and still have 2 years to pay 200 a month. Circumstances have changed andi can only afford to pay 20 per month. If i write to company, will they accept this? Scotland.

Rescheduling my loan agreement with my bank but loan agreement says one thing & the loan officer says another?

Monday, October 24th, 2011

Had been paying x amount for a couple of years but as money got tighter renegotiated the amount I repay weekly, that was done informally for 1 year and now is being put on a contractual basis. However the loan agreement instead of being repayable over say x number of years is now according to the contract to be repaid at x amount for 12 months and then a big lump sum in 12 months time.

Loan officer who’s very friendly is saying to disregard that, that it just has to worded like that when in fact the 12 month agreement will simply be re-done every 12 months. Issue for me is that I’m actually signed a contract which doesn’t stipulate this, in fact it says the very opposite, that after 12 months the outstanding amount is due to be paid in one installment. Won’t be able to do that should they decide later to enforce the contract despite any verbal assurances they’ve made to me.

It’s an unsecured personal loan in my name (I’m married but the loans in my name) Don’t have any substantial assets such as a house, car etc so nothing can be seized. We’re both mature adult students. Maybe becaue the loan is unsecured nothing could be seized in any case, not sure but that’s not my main concern now anyway. What to do I wonder, sign or make sure the contract reflects what is being informally told to me? Thanks.
Feels like I’m being bounced into signing but don’t think I will unless the contract reflects what I am being told verbally.

Please explain the Pros and Cons of a unsecured business loan?

Monday, October 24th, 2011

My little business has grown steadily in the last 5 years and has made a big leap in the last 6 months, I have completely outgrown the location I am in and have found a ranch nearby thats very reasonably priced ( foreclosure) and give me optimal room/ location to grow and operate.
Even though I own my home ( 75% equity), have a great FICO Score and have prospective renters for it , I will not qualify for a loan big enough to purchase the place because I am self– employed . Unsecured Business loans .com offers me a loan big enough at a reasonable rate ( though they take their cut of the loan amount) .
I think that this is the only way forward ( as a dog care business it would be extremely hard to find a decent place to rent ) .
Thank you for giving me advice and your take on things! I really appreciate it ! XX Martina in Bend,OR
Please gic eme advice !
Thank you so much ! Martina in Bend

Why do you think used car rates are higher?

Sunday, October 23rd, 2011

What is an unsecured loan?

Which type of institution has the best rates?
Why do you think that is?

Does anyone happen to know some place to get an 8000 unsecured loan that can be paid back at 200-300 a month?

Thursday, October 20th, 2011

Unsecured loan, interest rate question?

Saturday, October 15th, 2011

I need some clarification of a consumer loan agreement that was offered by my bank to sign. It states that it is 18% per annum in certain sections, but under the truth in lending disclosure section it says the cost the credit will cost me at a yearly rate is 26.345%….Why are these different? As I read through the agreement it stated the 18% was fixed. I see nothing explaining the 26.345%. It is not a big deal since I signed it already and it is only for 500 dollars, but any clarification on this for the future would be helpful as to why there are two different interest rates. Other loans I have taken out have always just mentioned one interest rate in the consuer loan agreement.
i was doing some more research and there was a processing fee for this loan. Would the reason the interest rate under the truth of lending section is higher is because they have to classify and include this in that? So, what I mean is, is the interest rate actually 18 percent, but when you tack on the processing fee the true cost over the life of the loan would actually be 26.345 percent and that why its under the truth in lending section. Do I understand this correctly?

can you file chapter 7 after your mortgaged has been modified and agreed upon?

Sunday, October 9th, 2011

we modified our home loan with our mortgage company and they lowered the rate and tacked the past due onto the back end of the loan. can we file a chapter 7 now to rid the unsecured debt?

selling my house will beable to pay mortgage off but not unsecured loan what happens to unsecured loan?

Saturday, October 8th, 2011

has anyone here ever actually gotten a unsecured loan with bad credit?

Wednesday, October 5th, 2011



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