Marketplace

Related Articles

More

Related Categories

More

Recently Added

More

Join StudyUp.com Today

It's always free and anyone can join!

Watch StudyUp Demo Video Now

Unsecured Student Loan

Tina Said:

Can I qualify for 50K unsecured loan with fico 698?

We Answered:

You might qualify if your job is secure and you have a GOOD reason for use of the $50K. Otherwise, I doubt if a bank would take the chance on you unless you can back the loan with at least 50% ccollateral.

Sam Said:

How does the debt collection process work on an unsecured loan?

We Answered:

The debt collection process

When you default on a loan or pay less than your contractual agreement – for instance, you have to pay a set percentage of the amount owing on credit cards or a minimum payment – your account will be passed to the firm’s own internal debt collection people. They will contact you to try to recover what is owed and to check your circumstances.

Most banks and financial organisations prefer – at least initially – to handle debt problems themselves. However, if the situation continues for any length of time or they are unable to come to an agreement with you, or you ignore their letters and/or phone calls, they may pass the debt on to a collection agency or try to recover their money some other way.

Any debt collection agency used by your creditors must work within the same legal restraints as the original financial organisation and cannot, for instance, try to demand money under threat of physical violence.

Often the letter you receive will indicate that you have to pay the full outstanding balance of the debt with a threat that if you do not, further serious action will be taken. Some people get frightened by this but it is essential you respond indicating why you cannot pay the full amount and sending a copy of your budget and repayment proposals.

Provided that you maintain the proposed payments, update the information in your budget when asked by your creditors to do so and provide evidence (like bank statements and payslips) when they are requested, most creditors should be prepared to help. However, if you do not voluntarily make payments to reduce your debts or keep to your repayment arrangement, the original financial organisation or the collection agency may apply to get a County Court Judgment(s) against you. In this case you will usually be sent a claim form. This gives you an opportunity to respond – either by defending the claim if you dispute it (using the form known as an N9B) or by offering to repay the debt by instalments (using the N9A form which has to be completed with the same sort of information that is included in your budget). In most cases, provided you complete this form, your proposals are realistic and you keep up the payments, no further action will be taken.

If you wish you can attend a hearing and explain your circumstances and present your personal budget but this is not normally necessary as long as you have returned the relevant paperwork within the time allowed and your budget is a realistic one. Failure to keep up the payments agreed can lead to further action. If you are employed and fail to make payments to a CCJ, an attachment of earnings order may be made against you. That means the instalments due will be taken directly from your salary by your employer before the balance is passed on to you.

If you are under a judgment(s) from the Court and fail to keep up payments, the creditor also has the right to instruct bailiffs to recover the amount due. This is the likely course of action if you are not working or are self employed and fail to keep up the agreed payments. Bailiffs might also be sent if you fail to reply to any letter from the Court that seeks further clarification of your position

Pamela Said:

Are Chase Student Loans considered Unsecured Debt or Secured Debt?

We Answered:

Neither federal nor private student loans are dis-chargeable through bankruptcy... sorry.

If you are having to resort to the evil Sub-Prime, private, variable interest rate student loans to pay for your school, you might want to have a talk with your cosigner to make sure they are willing to co-sign for you all 4 years of your college education. I've seen parents/co-signers be willing to do it once or twice, but by the time the kid is a senior they become unwilling. That or their debt-to-income finally gets too high their credit scores tumble and are no longer "credit worthy" cosigners and get decline. That would suck, you a senior with a year to go and no one to sign for you any longer.


The laws that define and regulate student loans are different than normal debt.
http://higheredwatch.newamerica.net/blog…

Irma Said:

Can I qualify for 50K unsecured loan with fico 698?

We Answered:

If you are thinking about getting a loan, then you should know about the basics before you get started. If you understand the basic dos and don’ts of loans, then you will be better equipped to find the best loan for your needs. Whatever type of loan you are applying for, you should follow these basic rules to help you find the best deal. When searching for a loan, it pays to do your research. Look for as many suitable lenders as you can, so that you can find the very best deal. There are many online pages that<!--allow you to compare loan rates from a variety of lenders. As well as looking online, check out your high street banks and mortgage lenders for deals too. You may find the loan that you need here,

http://best-loans.awardspace.com/

If possible, try and avoid taking out secured loans. If the amount you need to borrow is small or you have good enough credit to borrow without collateral, then do so. Although unsecured loans have higher rates, they are less risky because your home will not be at risk if you cannot make the payments.Try and take a loan out over the shortest period-->you can afford. Taking loans out over 10 years or more can be risky, and you cannot be sure what your financial situation will be at that time.

Anita Said:

When applying for a loan, do they look at student loans as unsecured debt?

We Answered:

Yes it is considered an unsecured debt and classified as an installment loan.

Discuss It!

Wisata Pulau Seribu said:

carrying out work in the field associated with tourism reaches desperate want excellent abilities. working function site is extremely appropriate in my opinion that an expert in the field of vacation.

Pulau Harapan said:

carrying out work within the field associated with tourism is within desperate want excellent abilities. working function site is extremely appropriate for me personally that an professional in the field of tourism.

lucky patcher android apk said:

Lucky Patcher iOS

freelance meaning said:

This is a decent post. This post gives really quality data. I'm unquestionably going to investigate it. Truly exceptionally valuable tips are given here. Much obliged to you to such an extent. Keep up the acts of kindness.

Escort Philippines said:

World Escort Guide, world's fastest growing escort directory! Find independent escorts, escort agencies and strip clubs from country Philippines. There are also many adult movie pornstars located here. Enjoy cute companions and your time with hot girls in Philippines, luxury companions providing escort services.

Marrakech desert tours said:

I appreciated your work very thanks

white sneakers said:

Fascinating and stunning how your post is! It Is Useful and accommodating for me That I like it all that much, and I am anticipating Hearing from your next..

disfuncion erectil tratamiento said:

Please share more like that.

Costruction company in kharar said:

Please share more like that.

100 dofollow backlinks said:

If Google comes across a nofollow tag with your URL in other website