Questions tagged [loan]

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-2 votes
1 answer
58 views

How far can I go in chasing "informal" loans? [closed]

As a lender, I sent a loan out to someone on the r/borrow subreddit. However, the borrower eventually scammed and ghosted me. The problem is that the loan was sent using CashApp, so I can't dispute ...
0 votes
2 answers
51 views

What are the main conditions to have a housing loan in the USA? [closed]

Apart from having 1 year of work in the same company and a good credit score... Once that's okay... For example I earn $5000 a month, can I borrow $4500 a month if I want ? Or is there a limit based ...
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1 vote
0 answers
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What laws, if any, were violated and what are the theoretical penalties for breaking them associated with Trumps failure to disclose the 19.8 m loan?

Trump having a foreign loan for 19.8m that wasn't disclosed is sort of big news now. However, the news doesn't say much about the legal implications, many imply he violated a requirement to disclose ...
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2 votes
2 answers
155 views

How can a lender of a small loan protect himself from the borrower not paying them back?

An acquaintance asked me to lend him money. I believed his story and lent him $100. He promised to pay me back $150 in 5 days time. It's been months and he hasn't paid me anything. I have heard that ...
5 votes
1 answer
76 views

What happens to offset accounts when the lender becomes insolvent?

In Australia and the United Kingdom, it is common for home loans to come with an offset account. The balance of the account is “offset” against the loan when calculating interest, so the borrower ...
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0 votes
0 answers
18 views

Finding statute/regulation that requires specific loan reporting in Kentucky

As of October 3rd of this year (2022), the state database provider for the state of Kentucky is requiring lenders it licenses for deferred check cashing to report some additional information when ...
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1 vote
2 answers
116 views

Cheapest Way To Sue Over Breach of Loan Contract?

6 months ago, I loaned a business friend $15000 to be repaid as $18,000 in a week. I have a complete contract which also includes the following section regarding lawyer fees for defaulting “Borrower ...
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-2 votes
2 answers
90 views

Collapse of a money lending company

According to Businessinsider, Nelnet is having massive layoffs and apparently is collapsing. If the actual company holding the debt has its own layoffs, and can't file lawsuits or do anything, does ...
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0 votes
1 answer
28 views

Gave Loan After Due Date on a Contract. Is the contract still enforceable? [closed]

I loaned someone a sum of money on a contract that was dated on January 5th by both parties. The contract, however states the loan was to be sent on January 2nd and the money was sent on January 5th. ...
  • 19
1 vote
2 answers
194 views

Capital Gains: If I loan Bitcoin to my LLC, can the LLC sell it to pay for expenses, and later repay the loan in USD tax free? (USA Law)

I understand that taking a credit line against Bitcoin collateral is not capital gains event because there is no sale. However, If a party, such as a company, is lent Bitcoin (BTC), sell it to pay ...
0 votes
0 answers
45 views

Avoid Capital Gain Tax Selling Borrowed Tokens

I live in UK, but wouldn't mind to get responses related to any jurisdiction. better explain with an example: I buy 180Tokens at $0.10 price. 1 year later I still have those 180Tokens. I freeze ...
1 vote
1 answer
104 views

Can you demand payment on a documented personal loan with no due date?

I loaned my sister $5000. She signed a note that says "I owe you $5,000 to be paid back sometime" She lives in Oregon I would like to enforce this now and get repaid soon. I could wait ...
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4 votes
1 answer
95 views

Are US courts less likely to enforce the repayment of a loan if it is (ceteris paribus) without interest?

Apparently, in common law, a loan given without an interest being specified/demanded is at procedural disadvantage, in that a court may not recognize it as a contract, the plaintiff having to rely on ...
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2 votes
1 answer
65 views

Regulation of P2P lending in India

Regarding the legal aspects of peer-to-peer lending in India, I have two questions— Whether P2P lending in India is regulated or not? If it is regulated then what are the related laws/rules and ...
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5 votes
1 answer
2k views

In a divorce, in the case of a refinance, who pays for the refinance?

If my wife and I were getting a divorce and one of us wanted to keep the house and was buying the other out of their portion of the equity, being split 50/50, would the cost of the refinance of the ...
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2 votes
1 answer
177 views

Can you defer capital gains tax with margin trading?

Assume I bought 1 bitcoin at $0 and it's now worth $100k. I am worried that the price will drop soon, so I sell my bitcoin. Bitcoin does indeed drop and comes down to $10k, where I then decide to buy ...
20 votes
5 answers
8k views

Can you avoid capital gains tax by taking out a loan and not repaying debt?

Let's say I have 1 bitcoin and I am selling it for $100k, and I bought it for $0 at the time. Assuming a Capital Gains Tax rate of 33% I would owe $33k, leaving me with only $66k. Could I instead get ...
1 vote
1 answer
378 views

What is a "Notice of Right to Cure Default"?

I am in the United States of America, specifically Colorado. I have an auto-loan. I made a living by delivering Chinese food, pizzas and burritos for a company. I crashed my car and I cannot deliver ...
2 votes
1 answer
126 views

A deceased signed a car loan on behalf of a relative with poor credit- what happens?

Albert signed a car loan on behalf of his son, Bob as Bob had poor credit. Bob drove the car and paid the repayments, though was not mentioned on the loan. Albert dies. What rights does the bank have ...
0 votes
1 answer
99 views

Do I have standing to sue a credit bureau or lender after being approved for a loan but being prevented from signing due to their error?

I'm in New York. So, what happened was that I applied for a loan from a loan agency. My credit was good, I was making good income, and my loan was approved. I need to stress that last point. My loan ...
0 votes
1 answer
44 views

Trouble understanding a paragraph within a French contract [closed]

I cannot understand the last paragraph of an article in a reservation contract to acquire our main residence. The context: We advance 1% of the sum to "book" the Appartement we wish to buy ...
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1 vote
1 answer
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How Are LLC Liabilities Prioritized? e.g. Are Bank Loans Paid Before Legal Settlements?

Consider an LLC that owns a rental home worth $700,000 and has bank debt of $500,000. A renter slips, falls, sues, and wins a $300,000 settlement. Is the bank debt senior to the lawsuit, leaving the ...
14 votes
2 answers
2k views

is estate responsible for debt of car-loan co-signed by the decedant?

My mother co-signed a car loan for her grandson ~3 years prior to her death . He defaulted on the loan and the car was repo'd AFTER her death. Can the loan company come after her WV estate for the ...
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1 vote
2 answers
311 views

Refused Financing for new car loan due to charge off from bankruptcy 11 years ago

State of Michigan My wife filed for chapter 7 bankruptcy 10 yrs ago and one of the debts was with Ford Motor Credit. She has good Credit now and I have okay credit. We wanted to purchase a Ford ...
0 votes
1 answer
75 views

What regulations specify the loan and what regulations specify the credit under US law?

What is a difference between loan and credit in the law system? Let's say US law. What does it mean to grant a loan, use a loan or to have a credit? What regulations describe both credit and loan?
2 votes
2 answers
91 views

Could government legally temporatiliy halt rent/mortgage/interest payments for the benefit of the greater economy?

I’m not well versed in economics or law by any stretch of the imagination. But I am confused with certain measures taken thus far by the government. There is currently a temporary shutdown of vast ...
-2 votes
2 answers
136 views

Is a minor liable to pay old dues to his father on attaining majority?

I had some stepfathers and an equal number of fostermothers in my life. My Stepfathers used to work in customs and central excise department of the government of INDIA. They used to be transferred ...
user avatar
0 votes
1 answer
45 views

Can a political party in the U.S. (or in other countries) accept loans?

There has been a political turmoil in Thailand where a political party was dissolved for taking a loan. This court ruling sparks controversies among Thai people, so I wonder if there is a similar law ...
0 votes
0 answers
69 views

Can I force my ex-spouse to remove my name from a loan?

In California, my girlfriend is on a mortgage with her ex-husband. In the divorce, she agreed that the property was his, but her name remained on the loan. Later, the ex-husband re-financed the house ...
3 votes
3 answers
259 views

Living in permanently growing debt to your own company

Some countries entertain corporate income tax rates significantly lower than personal: Ireland: 12.5% vs 20–52% Estonia/Latvia: 0% vs 20% Sweden: 21.4% vs 32–57% Barbados: 5.5% vs 25–38% Say Bob ...
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1 vote
2 answers
217 views

What happens to loans issued by a startup if the startup fails?

I live in the U.S. Suppose that I invest $50,000 in a startup company, signing "typical" paperwork for a 55% stake. The founder then uses the money to issue a $20,000 loan at a minimal interest rate ...
2 votes
1 answer
202 views

How can you enforce repayment of a loan with no due date?

Suppose you loan someone money with an informal but written agreement. No due date is specified. You know they have since obtained a large sum of money, and could pay you back immediately. However, ...
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-1 votes
2 answers
58 views

How do I write an agreement between a token issuer and token bearer?

I'm making a decetralized blockchain app that lets users create tokens and sell them to other users with the agreement that the issuer will repurchase the tokens at the bearers demand. So its pretty ...
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0 votes
3 answers
202 views

I lent someone money then they moved out of state and stopped communicating. How do I track down this individual for prosecution?

Against my better judgement I tried to help a fellow renter, my housemate, in a time of need. I had him sign a promissory note and lent him $1200 in Virginia. After the deadline passed I followed up ...
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3 votes
1 answer
347 views

Credit union holding car note, refuses to provide details of how payments have been applied

A credit union financed a car note for me. I never knew them before the loan transaction and I only have the car note there. Recently, my payments seem to not lower my loan balance as much as it ...
0 votes
1 answer
85 views

Loan forgiveness letter, estate law

My grandfather passed away last year. His will was recently filed, and his sister is about to be named executor. His sister took a $100,000, 5-year, 5% interest loan from him before he died. She ...
user avatar
2 votes
3 answers
179 views

what is "just compensation" during eminent domain?

The United States government uses eminent domain to seize private land for public use in exchange for "just compensation", but would the landowner be compensation for the structures on the land being ...