Buying a car is one of the biggest financial investments that one can do. Even though having a car is very convenient, but the down payment along with the payment of loan installments can be a headache to deal with.
The value of your car will wear off with time, in other words, it will get depreciated. But the loan value remains the same, with no change in the liability whatsoever. So what happens when you cannot pay the installments on time? You cannot sell the car of course, because the value Read more [...]Finance | 0 comment
All lending institutions render eligibility criteria for determining which borrower can manage loan payments and which can’t. Some such criteria include income, minimum age for qualifying for a loan, employment details, monthly income and credit history. In case you’re not able to meet either one, or few or all of the aforementioned criteria, you won’t qualify for a personal loan. But hey, that doesn’t mean that you won’t be able to ever get a loan for meeting some financial purpose. You Read more [...]Finance | 0 comment
Regardless of whether you are an individual or running a company, if you have applied for financial aid in form of loan, it is mandatory that you will be required to repay the loan within the period assigned to you. This is the normal practice. However, many a times, repayment gets stalled due to several reasons. What happens then?
Loan default – What to expect
There are several instances, when loans are not paid back either intentionally or unintentionally. Whatever be the cause, if you cannot Read more [...]