“Legitimate debt collectors may sometimes be aggressive, but scammers often use fear to get you to act quickly and not ask any questions,” says Thomas Nitzsche, a senior director of brand and media at Money Management International. “If they’re threatening you with jail time — or worse...
This is an extreme example and there are many steps that you can take to avoid reaching this scenario. The first move is always to contact the lender. Most legitimate loan providers want borrowers to repay their debt to avoid costly court proceedings. This means that your lender could agree ...
1. Provide a hardship letter The first step of the short sale process is negotiating the sale with your mortgage lender or servicer. Write a hardship letter explaining that you’ve come up against a legitimate financial hardship that prevents you from continuing to pay your mortgage. This might...
Potential for Scams. A final risk of taking out a personal loan is that not all loan offers are legitimate. Scammers sometimes offer fake personal loans applications in order to get hold of your personal information, which they use for tosteal your identity. In some cases, they also charge...
Microloans, by contrast, are a legitimate funding option. They offer these pluses: Supporting Growth: Microloan lenders provide smaller loans to startups and small businesses to help them grow. Reasonable Rates: While interest rates might be higher than traditional loans, they are significantly low...
loan funds after your application has been approved. Some online lenders may ask you to connect a business bank account to analyze and verify your revenues to see whether you qualify for an online loan. In those cases, make sure you are dealing with a legitimate lender and a secure website...
If your account is frozen because of activity you know is legitimate, go to the bank with proof. If you prove there's no reason for the freeze, the bank can grant you full access to the account again. But do so promptly, as you may have limited time to make a claim. Get the cred...
The times interest earned (TIE) ratio is a measure of a company's ability to meet its debt obligations based on its current income.
An absolute auction is different from a lender confirmation auction, in which the lender must approve the bid in order to complete the transaction. In real estate, if a foreclosure is sold at a lender confirmation auction, the highest bidder does not necessarily win. The individual with the wi...