Questions tagged [loan]

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13
votes
2answers
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 ...
3
votes
3answers
172 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 ...
3
votes
1answer
325 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 ...
2
votes
2answers
98 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 ...
2
votes
2answers
73 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
3answers
150 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 ...
2
votes
1answer
63 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, ...
1
vote
2answers
133 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 ...
1
vote
1answer
39 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 ...
0
votes
3answers
158 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 ...
0
votes
1answer
65 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?
0
votes
1answer
43 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
1answer
77 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 ...
0
votes
0answers
7 views

Interest Benefit on Home Loan for pre-construction period, if foreclosed before 3 years after posession [migrated]

I am living in India. I want to know if I can claim tax benefit for the interest paid on my home loan under Section 24 for the pre construction period if I foreclose the loan before 3 years of ...
0
votes
0answers
23 views

Can I loan money to my LLC by directly paying for an expense (rather than putting the money in the LLC's account first)?

I have an LLC that is transitioning from one state to another. A check has been written to empty the old bank account and has been deposited in the new bank account, but I do not yet have a debit ...
0
votes
0answers
57 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 ...
-1
votes
2answers
48 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 ...
-2
votes
2answers
120 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 ...