Questions tagged [loan]
The loan tag has no usage guidance.
46
questions
1
vote
1
answer
51
views
Priority of credit card debt in company liquidation
Juristdiction: USA. A small S corp is insolvent and being liquidated. Main bank account now has $0, say $2000 owed on corporate credit card account (for which I am the guarantor), $1000 in wages owed (...
- 111
0
votes
0
answers
28
views
Can a company lend an individual money "by way of business" if secured on a commercial property in the UK with any regulation?
I am curious to know if a company can lend an individual money at a high interest rate for many years without a licence or following any guidelines in the UK
The loan was secured on a commercial ...
4
votes
1
answer
411
views
What is the legality of a 0% interest unsecured loan?
I have heard that these are legally stigmatised/frowned upon, and subject to various different types of restrictions, I think mainly for tax reasons.
But a recent answer describes this as a seemingly ...
- 9,081
1
vote
2
answers
138
views
What describes a consent when people take loan?
As a banker, I ask people to put their signatures on the loan agreement form, the demand promissory note, etc. For illiterate people, I ask them to put their thumb impression countersigned by a ...
- 31
2
votes
1
answer
125
views
Charging interest on a locked account
Is it a violation of any US banking regulations for a bank to continue charging interest on a loan when they have temporarily blocked the account holder from making payments? (or at least interest on ...
- 3,589
6
votes
1
answer
192
views
Can the lender of a collateralised loan take more than the collateral upon default?
Recently, Park Hotels & Resorts has pulled out of the San Francisco market, but - assuming I've understood correctly - instead of selling their properties there for pennies and taking the loss on ...
- 163
1
vote
1
answer
161
views
Does a Limited company need a licence to lend money to an individual in the UK?
A limited company (one director) lent money to me as an individual (£450,000). The initial loan was secured as a first charge on a property I owned but did not live in. Interest the first 2 years was ...
- 11
0
votes
0
answers
36
views
Which taxes would have to be paid for a €5000+ loan between individuals with zero interest rate in France
Question:
In the context of french law and tax regulations, if a lender decides to lend more than €5000 with a 0% interest rate to a borrower, would the lender and/or the borrower have to pay taxes on ...
- 1
2
votes
0
answers
51
views
Are loans protected by PayPal Goods & Services?
If a lender loans a borrower say $150 for the borrower to repay $250 in 3 weeks (very high/illegal interest rate) via PayPal G&S, and it turns out that the borrower refuses to repay the loan, what ...
- 436
0
votes
3
answers
141
views
Loan contracts with very high interest: are they even legally binding?
Say the borrower agreed to a loan contract of repaying $250 for a $200 in 10 days. Obviously, that is a very high annual interest rate, and illegal in many places. First of all, did the lender just ...
- 436
0
votes
2
answers
53
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 ...
- 1
1
vote
0
answers
36
views
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 ...
- 8,206
2
votes
2
answers
198
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
138
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 ...
- 8,632
0
votes
0
answers
19
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 ...
- 4,254
1
vote
2
answers
127
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 ...
- 21
-2
votes
2
answers
93
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 ...
- 1
1
vote
1
answer
30
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. ...
- 21
2
votes
2
answers
269
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
47
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 ...
- 101
1
vote
1
answer
128
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 ...
- 19
4
votes
1
answer
113
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 ...
- 3,086
2
votes
1
answer
66
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 ...
- 771
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 ...
- 51
2
votes
1
answer
182
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 ...
- 399
19
votes
5
answers
9k
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 ...
- 399
0
votes
1
answer
974
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 ...
- 345
2
votes
1
answer
134
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 ...
- 129
0
votes
1
answer
102
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 ...
- 111
1
vote
1
answer
46
views
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 ...
- 111
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 ...
- 425
1
vote
2
answers
406
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
79
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
92
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 ...
- 21
-2
votes
2
answers
138
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 ...
user20588
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
88
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 ...
- 101
4
votes
3
answers
301
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 ...
- 25.6k
1
vote
2
answers
233
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 ...
- 195
2
votes
1
answer
320
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, ...
- 173
-1
votes
2
answers
64
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 ...
- 147
0
votes
3
answers
208
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 ...
- 101
3
votes
1
answer
352
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
96
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 ...
anon
2
votes
3
answers
210
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 ...
- 1,506