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Loans

Money lent to individuals or businesses in return for interest in addition to repayment of principal. Common types of loans include commercial loans, interbank loans, mortgage loans, and consumer loans.

500 Questions

Can a student loan be discharged for mental illness?

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In the U.S., student loans are typically not dischargeable due to mental illness. However, borrowers with disabilities, including some mental illnesses, may be eligible for loan discharge or forgiveness through programs like Total and Permanent Disability Discharge. It's essential to contact your loan servicer or a financial counselor for specific guidance.

What was supreme court decision in Pollock v. Farmers' Loan and Trust?

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The federal income tax was unconstitutional

If a student should decide to leave school permanently for any reason how many months does the student have before he or she needs to begin repaying the District Stafford Loan?

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The student would have a grace period of typically 6 months before they are required to start repaying the District Stafford Loan after leaving school permanently.

What is the Supreme court decision of Pollock v. Farmer's loan and Trust?

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In the Pollock v. Farmer's Loan and Trust Co. case (1895), the U.S. Supreme Court ruled that the federal income tax imposed by the Income Tax Act of 1894 was unconstitutional because it violated the rule that direct taxes must be apportioned among the states based on population. This decision led to the passage of the 16th Amendment in 1913, which granted Congress the power to levy an income tax without apportionment among the states.

Can you sue a relative for unpaid loan?

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Yes, you can sue a relative for an unpaid loan. It is advisable to consult with a legal professional to understand the process and implications of taking legal action against a family member. It is also important to consider the impact it may have on your relationship.

What law is broken when a mortgage company charges a late fee when the payment was received within the grace period?

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Charging a late fee when a payment is received within the grace period may breach the terms of the mortgage contract. If the contract states that payments made during the grace period are considered on time, then charging a late fee would violate that agreement. It would be advisable to review the terms and conditions of the mortgage contract to determine if the late fee charge is justified under the agreed terms.

What are exceptions to collateral estoppel?

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Exceptions to collateral estoppel include when the party against whom the doctrine is being invoked did not have a full and fair opportunity to litigate the issue in the previous action, or when there is new evidence that was not available in the previous action. Additionally, collateral estoppel may not apply if the issue in question is of public importance and should be reexamined for public policy reasons.

Is it legal to require a satisfaction for an unrecorded mortgage?

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It depends on the laws in your specific jurisdiction. In some places, it may be legal to require a satisfaction for an unrecorded mortgage as a condition of the loan agreement, while in others it may not be enforceable. It is advisable to consult with a legal professional in your area for specific guidance on this matter.

What was the supreme court decision in pollock v farmers loan and trust?

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Asked by Wiki User

the federal income tax was unconstitutional

Can you go to jail for not paying your paiday loan In Florida?

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In Florida, failure to repay a payday loan is not considered a criminal offense, so you cannot be sent to jail specifically for not paying back a payday loan. However, lenders can take legal action against you in civil court to recover the debt. It is important to communicate with the lender and try to work out a repayment plan if you are struggling to make payments.

Does a sheriffs deed of trust eliminate a 1st Senior Mortgage?

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No. The mortgage remains in first place as an encumbrance against the property.

No. The mortgage remains in first place as an encumbrance against the property.

No. The mortgage remains in first place as an encumbrance against the property.

No. The mortgage remains in first place as an encumbrance against the property.

Can you go to jail in Texas for defaulting on your car loan?

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No, you cannot go to jail in Texas for defaulting on a car loan. However, the lender can repossess the car and take legal action to recover the remaining debt. It is a civil matter, not a criminal one.

How much money do you need to pay for student loans and a scholarship for law school?

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The total amount of money you need to pay will depend on the specific terms of your student loans and scholarship. Typically, scholarships do not need to be repaid, but you will need to repay the amount of money borrowed for student loans according to the agreed-upon terms, such as interest rate and repayment period. Be sure to carefully review the terms of both your scholarship and student loans to understand the financial obligations.

Can you go to jail in HoustonTexas for not paying a payday loan?

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No, you cannot be sent to jail in Houston, Texas for not paying a payday loan. Failure to repay a payday loan is a civil, not a criminal, offense. However, creditors can take legal actions to collect the debt, such as filing a lawsuit or garnishing wages.

What are principal and interest on a loan?

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The principal is the initial amount borrowed in a loan. Interest is the cost charged by the lender for borrowing that principal amount. The total repayment amount on a loan typically includes both the principal and the interest.

What is legal rate on judgment that has replaced a defaulted loan?

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The legal rate on a judgment that has replaced a defaulted loan varies depending on the location. In most cases, the rate is determined by state law and can range from a few percentage points above the prime rate to statutory rates set by each state. It is important to check the specific laws of the state where the judgment was issued to determine the applicable legal rate.

What are the laws regarding second mortgages?

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Second mortgages are loans taken out on a property that is already mortgaged. The laws regarding second mortgages vary by jurisdiction, but generally, they give the lender the right to foreclose on the property if the borrower defaults on the loan. It's important to carefully review the terms of the second mortgage agreement and understand the legal implications before proceeding.

Can you go to jail in South Carolina for defaulting on a payday loan?

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No, you cannot go to jail in South Carolina for defaulting on a payday loan. Debtors' prisons are illegal in the United States, and failing to repay a payday loan is a civil matter, not a criminal offense. However, the lender can take legal action to collect the debt through a civil court.

Can unpaid loan in Citibank Bahrain get you arrested in the Philippines?

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While failure to repay a loan in another country may lead to legal consequences such as being pursued by debt collectors and facing legal action in that country, it is highly unlikely that you would be arrested specifically for an unpaid Citibank Bahrain loan while in the Philippines. However, it is important to address and resolve any outstanding debts to avoid potential implications for your credit score and financial standing.

Can you be taken to court for using a check on a closed account for payday loan in Texas?

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Yes, writing a check on a closed account is considered a form of check fraud in Texas. This action violates state laws and could result in legal consequences, including being taken to court by the payday loan company or financial institution. It is important to resolve the issue immediately to avoid further legal troubles.

How much is the average mortgage balance in the US?

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The median household income in the United States is $46,326.
When you break this down by 12 months, it wind up to $3,860/month

Answer: That's the average monthly salary, not the monthly mortgage payment! If you paid out your entire salary in a mortgage payment, you'd have nothing left for other expenses, like utilities and food.

How do you find your mortgage survey?

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To find your mortgage survey, you can request a copy from your mortgage lender or contact the surveyor who conducted the survey. You can also check with your county or local land records office as they may have a copy on file.

What is the statute of limitations on unsecured loans in Georgia?

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In Georgia, the statute of limitations on unsecured loans is typically six years. This means that creditors have up to six years to file a lawsuit to collect the debt. After the six-year period has passed, the creditor may not be able to pursue legal action to collect the debt.

Can you be arrested in the state of Minnesota for a payday loan you took out 5 years ago?

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In Minnesota, a payday loan is a civil matter, not a criminal one. You cannot be arrested for failing to pay it back. However, the lender may pursue legal action to collect the debt through civil court.

Can you sue someone in prison for a loan they didn't pay?

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Yes, you can pursue legal action against someone in prison for a loan they didn't pay, but the likelihood of recovering the debt may be challenging since they are incarcerated. It would be best to consult with a lawyer to explore your options and determine the best course of action.