Depending on the type of LLC loan, you may be asked to offer assets as a way to ensure repayment of the loan. A secured business loan requires collateral, like equipment or another asset, to back up the loan. An unsecured business loan, on the other hand, doesn’t require collateral. ...
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S" or “Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp."). MLPF&S is a regis...
Secured debt is backed by collateral, such as a house or car, while unsecured debt is not, like credit card debt. Collectors have more leverage with secured debt because they can repossess the collateral. Can a debt collector take money from my bank account? If a collector wins a lawsuit ...
The article suggests that you set up an emergency fund – enough to pay for six months of living costs – first. Then, when taking on debt, the article recommends that you “first pay attention to high-cost debt without any collateral, such as high-interest credit cards or a high-interes...
This is also called “wage earners” bankruptcy, because you must have a regular income to qualify. The goal is to resolve some debts and get current on secured loans — those with collateral, such as a home ...
Criminals can use stolen titles to carry out other types of fraud, such as home equity theft, which involves opening new lines of credit using your home as collateral, leaving you saddled with the unpaid debt. How does home title theft happen? There are several ways home title theft happens...
Satisfaction guarantee.If customers aren’t satisfied with your product, they can get a refund, no questions asked (though it would be wise to collect some feedback). Lifetime guarantee.If anything goes wrong with the product, the customer can get it fixed or replaced. ...
Factoring companiespay you immediately following an invoice, using it as collateral. Then, when the client themselves pay the invoice, the transaction will be officially closed. [Read:5 Ways to Build Trust With Your Customers] While you can’t control a customer’s decision to not pay you, ...
OurCollateralincludes professionally created brochures, postcards, flyers and other materials. Collateral is designed to help employees understand our products, including what is covered and how coverage works (with examples). You can truly make it yours by having your company's logo inserted in...
Both home equity loans and HELOCs (home equity lines of credit) allow you to borrow against the equity you’ve built up in your home. They frequently have low interest rates because you use your home as collateral. But because of this, you could lose your home if you default on your ...