Undecided Question: what is an installment loan in finance?
Baghdadia Asked: Undecided Question: what is an installment loan in finance?
An example is a car loan.
Lets say you make a car loan for $10,000
They will give you three to six years to pay in monthly payments.
These monthly payments are referred to as installments (installment loan)
Answers:
Answered:
One you pay back with installments over time, usually each month, until the loan and interest are paid off.
One you pay back with installments over time, usually each month, until the loan and interest are paid off.
Answered:
$35,000 x 10% for 360 months equals $307 per month.
$35,000 x 10% for 360 months equals $307 per month.
Dave Answered:
The charge off will stay on your credit files for 7.5 year from the original date of last activity. They can charge you interest every day until it is paid infull. They also have the right to call you and try to collect the remaining balance. If you buy a car and they run the credit report, there will be a increase because of the default.
The charge off will stay on your credit files for 7.5 year from the original date of last activity. They can charge you interest every day until it is paid infull. They also have the right to call you and try to collect the remaining balance. If you buy a car and they run the credit report, there will be a increase because of the default.
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Categories: Loan Questions Tags: Baghdadia Asked, Dave Answered, loan, Undecided Question
Undecided Question: What can I do about a loan in my name that was opened not entirely willingly by me?
James Light Asked: Undecided Question: What can I do about a loan in my name that was opened not entirely willingly by me?
My girlfriend, at the time, had me open an installment loan to pay for her child's special education. After we split up, I agreed to pay a portion of the loan because I like the kid and the program was really helping, but now she refuses to pay any of it. I've been told by others who have "lawyer friends" that there are ways out of this pickle. No search results are specific to my situation but most concur that if it isn't fraud, I'm stuck. Ideas?
Answers:
Answered:
Basically you're stuck, you took the loan out in your name so you owe the money. You could try suing her in small claims court to force her to pay you "her" portion of the loan, but that's the only option I can think of.
Basically you're stuck, you took the loan out in your name so you owe the money. You could try suing her in small claims court to force her to pay you "her" portion of the loan, but that's the only option I can think of.
Answered:
Do you have this agreement in writing? If you do? Take her to court and sue her.
Do you have this agreement in writing? If you do? Take her to court and sue her.
If on the other hand you don't either have this in writing or some other type of proof that your ex owes this bill, your stuck my friend.
Good luck.
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Categories: Loan Questions Tags: Answers Answered Basically, James Light Asked, Undecided Question