Sentences with phrase «to collect the loan»
"To collect the loan" means to receive the money that was borrowed from someone or an institution. Full definition
Just think how quickly law schools would change their staffing, teaching, and community involvement if they had to personally collect loan payments from their alumni for 20 years.
lawyerist.com
This code reflects the current disposition of the loan servicer for collecting the loan.
The only thing that concerns lenders is that you have a bank account to collect loan repayment from, and a regular source of income in form of salary or wage.
A mortgage servicer collects your loan payments every month, handles your escrow account, and credits your loan account, if you have one.
He explained further that the process of collecting the loan has already commenced just to ensure that workers and teachers in the state are paid as soon as possible.
With online financing companies, you can collect loan quotes without further lowering your credit score with multiple credit inquiries.
The loans may be turned over to a collection agency and you will be liable for all the costs associated with collecting the loan.
The lender also collects loan points upfront which adds to its profit.
This is an easy way for the lender to collect your loan payment in a timely manner — an obvious benefit to them.
Debt collection is a normal transaction when lenders try to collect loan repayments from borrowers.
In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a «deficiency judgment «to collect the loan balance.
The Canada Revenue Agency (CRA) collects loan in default and can even withhold income tax refunds to cover outstanding debt.
Let's send him out to go collect loans,»» Beshara recalls now, with a practiced wince audible in his smoothed - out drawl.
«The cause of the deflation was because the Japanese Corporations and Japanese banks had a relationship in which banks would lend out loans and not have a specific policy for collecting the loan back at a specific date and not charging an interest rate for late payments (Takafusa 1994, 142)»
With an ACH Auto Deduction, you authorize us (GECU) to electronically collect your loan payment from a checking or savings account at another financial institution.
Please remember that refusal or failure to pay may result in legal action against you by The Lender in an attempt to collect the loan amount, interest and costs of collections.
If you have a question any time during the life of your loan, RESPA requires the company collecting your loan payments (your servicer) to respond to you.
Another $ 2500 in and we were collecting loan proceeds to pay off our debt (and Mr. Cheap was feeling like a tycoon).
Once you find the home, you will need to get it appraised in order to see if the price is right, and if you agree with it, you have to go to the bank and collect the loan money, finish the paperwork and close the deal.
Banks collected the loan collateral (foreclosed homes) but the low property values resulted in a relative lack of assets.
The trusts are responsible for collecting loan payments from borrowers and paying out interest to bondholders.
Creditors who follow the proper procedures for repossession and sale are generally allowed to sue you for a deficiency judgment to collect the loan balance.
Payday loans are issued in exchange for a postdated check or and electronic withdrawal authorization, allowing the lender to collect the loan repayment from the checking account of the borrower on the due date.
Their main job is to collect loan payments for creditors.
Identify the party who is collecting your loan payment — for instance, do you have a lender or a servicer?
What Mr. Afoko had done at the time, was a protestation of the use of the party by current Finance Minister, Ken Ofori - Atta, to collect loans for himself.
Servicer: Organization that administers and collects loan payments.
To illustrate, we collected loan interest rates for variable universal life insurance policies from three of the largest insurers:
Some people do this after they have collected the loan.
Payday One is not a lender, rather they collect loan applications and sell them to actual lenders.
Collecting loan payments is often known as servicing the loan.
Navient was contracted to collect loans that go into repayment for federally owned loans through the Department of Education.
Before getting reimbursed, lenders are required to make certain efforts to collect the loans.
How do these programs make sure that they collect the loan?
The government anticipates having the private sector service and collect the loans.
If anybody contacts you to collect these loans or promotes paying back these loans through fraudulent third parties, please report them to the RCMP Anti-Fraud Division.
A spokesman said: «We charge a one - off default fee of # 30 on late repayments that reflects the additional costs we incur in collecting these loans.
To illustrate, we collected loan interest rates for variable universal life insurance policies from three of the largest insurers:
The Valorem foundation intends to create a financial ecosystem with all the necessary financial tools a user would require for the everyday transaction from selling, to making purchases, to collecting loans, to making donations, to making investments etc..
These transactions include cashing checks, depositing money, and collecting loan payments.
Collected loan payments and placed holds on accounts for uncollected funds, oversaw the handing of credit card accounts and reports; cash advances, and wire transfers.
More than 7 quality years of experience in banking and in the insurance sector — this consisted of handling and collecting loans.