What happens to bank loans in case the debtor company goes insolvent?
Question by Syed Nadim: What happens to bank loans in case the debtor company goes insolvent?
I would like to know the fate / process of recovery of bank loans in case the debtor business goes insolvent / bankrupt with particular reference to UK laws. What could be the precautions which a lending banker may take while lending to ensure recovery in case of insolvency / bankruptcy?
Best answer:
Answer by GetOutofDebt.org
If it is a debt you owe the company, you still owe it. The precaution is good qualification and an appropriate interest rate based on risk to price comparable loans at a rate where the estimation of profit exceeds the estimation of loss. That’s how banks make a profit.
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What happens if someone took out a payday loan in my name?
Question by Candace: What happens if someone took out a payday loan in my name?
I’m going through a nasty divorce that has been dragging on for almost a year. A couple of days ago, both my brother and sister got phone calls from someone claiming to be a collection agency for a payday loan company saying that I had taken a payday loan and failed to pay on it. I have never taken a payday loan and my attorney cannot take action until I have something in writing. What can I do?
Best answer:
Answer by Jason Smith
It does not sound like an actual collection company, (actual collection companies can’t state they are calling because of an unpaid debt unless they are talking to the lendee… fdcpa guidelines), don’t know what it is but it sounds fishy. If you do talk to this person DO NOT give out any personal information, and inform family/friends not to give out theirs. Given that you are going through a divorce my best guess (and it is only that), is that it is a private investigator from your former signifigant other. Best of luck.
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What happens if you fail to repay your educational loan?
Question by troubled: What happens if you fail to repay your educational loan?
What happens if a person fails to repay his educational loan? What are the consequences?
Best answer:
Answer by Common Sense
If it’s a Federal loan they can seize your tax refunds. Other lenders could sue you and get a court order to attach your wages.
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Categories: Loan Questions Tags: educational, fail, happens, loan, repay