Author Topic: loan interest rate  (Read 958 times)

GilbertoVa

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loan interest rate
« on: September 29, 2017, 04:03:32 PM »
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how do i get a loan with bad credit
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JohnVywy

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« Reply #1 on: September 30, 2017, 04:32:06 AM »
Need more info regarding the loan please.

How much borrowed
How long for
Interest rate
Monthly instalments

A high interest loan will no doubt be front loaded with interest

HenryCemo

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« Reply #2 on: September 30, 2017, 04:06:52 PM »
Is this a high interest installment loan?

IE would fall under "High Cost, Short Term Credit" - HCSTC?
Whos the firm plz?

Butchyarvm

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« Reply #3 on: October 01, 2017, 06:00:15 PM »
Dear all,
I have a case that is of interest to me that i am hoping we could find some advise on here. Its about a high interest loan that was
taken out in November  2015  and monthly payments have been up to date till January this year when a settlement figure was requested.
The figure provided still turned out to be more than actual amount borrowed after a year plus of making regular monthly instalments payment. Please any advise on the best line of action will help.

JoshuaBuhu

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« Reply #4 on: October 02, 2017, 11:54:00 AM »
I do not know for certain the formula for calculating the rebate applied for early settlement.But i honestly think that

a fair view is to divide expected amount of interest by length of loan ie Ј8420.96 by 4 so that expected interest for each year

should be Ј2105.24. I would think a fair settlement should be in this region. Please any advice on this outrageous rate is useful.

Lindagozi

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« Reply #5 on: October 02, 2017, 04:54:00 PM »
Yes agreed it was a high interest  loan for high risk customers,

but the belief was that this outrageous interest rate would be reviewed after six months of regular payment and asserting that the loan would be eventually paid off with a view to building a good credit history for the customer.
 
Rather it turned out to be a trap to hold desperate people for as long as possible in debt bondage for unfair profits 

very pathetic

EricaWehu

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« Reply #6 on: October 02, 2017, 08:32:07 PM »
Everyday Loans lend to high risk customers and with that comes high interest charges, I assume you were fully aware of the amount of the repayments and the total amount repayable before you signed the agreement.  You can throw around words like outrageous and unfair but what exactly did you expect, you agreed to this??

Im not disputing the interest on this loan is eye watering, but thats how it goes - if you didnt like it you shouldnt have taken the loan out.  I assume any discount would be at their discretion - I doubt they would be interested in discounting it though, why would they?  They havent broken any laws so I dont know exactly where you can go with this to be honest, maybe someone else may have some ideas.

Johnnyhrty

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« Reply #7 on: October 03, 2017, 03:36:33 AM »
Hello there,

I’m having trouble with a commercial loan that I’m looking to take out. I’m hoping someone in this forum can help me out. I want to buy a pub worth around 760,000 and I have 84,000 in savings at the moment.

I want to know what sort of interest I’ll be offered on a commercial loan. Can anyone in the forum please clarify this to me?

Melonymahe

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« Reply #8 on: October 06, 2017, 07:49:56 AM »
If I  buy a house on bank loan, I have to pay interest. So let me know Whether the interest paid be Haram as the rate of interest is minimum and the purpose of loan is a necessity.

BrettWivo

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« Reply #9 on: October 06, 2017, 01:28:53 PM »
Well of course if you are in a position to pay this off then do so. Not doing so means you pay an additional Ј3809
If family can help then take advantage of this, especially if its interest free

Erickazy

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« Reply #10 on: October 06, 2017, 01:53:29 PM »
Please can anybody advise what the worst case senario will be, as already struggling to keep up with regular on time payment. Would paying a lump sum back be  advisable? Able to  borrow a lump sum but not total settlement figure from family interest free. Problem is do not know what the resulting monthly payment will be considering  will have to also be paying back sum borrowed from family. Will this be a wise  thing to do?

Nimaiaqpd

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« Reply #11 on: October 11, 2017, 11:41:32 PM »
irresponsible lending.........


if your creditfile was already defaulted multiple times etc etc


they should never have given the loan........

Dudehucy

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« Reply #12 on: October 12, 2017, 12:17:55 AM »
EDL - They do like to push out the boat.

What sort of reasonable settlement figure are you looking for?

Cesarzmms

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« Reply #13 on: October 12, 2017, 02:32:48 AM »
Any one please clear my doubt. if housing loan is availed jointly by husband and wife and if the property is owned jointly by both whether deduction of interest of 2 lakhseach can be availed from salary by both of them.