Loans involve borrowing money for eventual repayment with a cost involved beyond the original principal. The price of borrowing is generally defined by the amount of interest charged on a loan, but may also include transaction and processing fees. Loans can be taken out for a number of reasons. Some of the most common motivators for borrowing money include such things as purchasing a home or car, funding business activities or paying for college. The sources for loan financing might involve banks, commercial lending institutions and credit unions.
Credit Card Debt
Which student charge card should you select?
You should select a student charge card that is specifically designed for an individual in your position. Many banks advertise cards for students, and these often offer the best features. These banks are willing to overlook low credit scores or lack of assets to lend to students who are... »
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Debt Consolidation
What are the advantages of a loan workout plan?
The advantages to a loan workout plan will be divided between a lender and a borrower. For the borrower, there is a chance to avoid default on the loan by creating a voluntary repayment agreement with the lender. Further, the borrower will typically repay only a fraction of the... »
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Loan
What is a simple interest loan?
A simple interest loan assesses fees based only on a flat percentage. The principal amount is multiplied by an interest rate, and the resulting sum is the only interest charged on the loan. This amount is divided among the payment terms. A borrower will pay a portion of the... »
- What Is Simple Interest?
- How do you qualify for a portfolio loan?
- What Is a Portfolio Loan?
- How does zombie debt affect your credit?
Loan Rates
How They Calculate Your Credit Score
To calculate credit score the following factors are taken into consideration in accordance to their percentage weight: Payment history (35 percent) – your payment history is the largest consideration when considering your credit score. How quickly you pay your bills is a chief concern of lenders. Amounts owed (30... »
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