The reason for a home foreclosure is due to a default in payments and violation of policies of lenders. First of all, you need to be aware that a mortgage lender can foreclose your home for two reasons. The first one is defaulting on your payments. Generally, lenders will issue a Notice of Default if you miss three mortgage payments consecutively. Another possible ground for … [Read more...]
Secured vs Unsecured Debt Financing
A secured debt is a debt on which payment is guaranteed by an asset or lien. This means that a secured debt has collateral; if the debtordoes not repay the debt in due course, the creditor has the legal right to take possession of the collateral and resell it to recover losses. In case of bankruptcy, the creditor is considered a secured creditor, which means the creditor … [Read more...]
A Guide to Unsecured Business Loans
Wondering whether to pledge your property, machinery or account receivables to get the loan you need? Could never figure out how unsecured business loans really work or what they mean to a small business owner?It is time to find out the best option for your business. Debt financing has never been popular with small business owners. I can understand why it is being avoided as … [Read more...]
Where to Get the Right Secured Loans for You
Generally, when you look at the options for a secured loan, there are two main choices . The first is you could choose an independent loan company and the second is that you can choose your local bank. So, just how do you know where to get your loan and what are the advantages and disadvantages to both options? Secured Loans and the Bank Many people like to get their … [Read more...]
What is Individual Voluntary Arrangements (IVA)?
An Individual Voluntary Arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy. An IVA is an alternative to bankruptcy, however they are not mutually exclusive. A person can propose an IVA after they have been made bankrupt. If an arrangement is approved post-bankruptcy then the debtor can apply to the Court for an annulment of the bankruptcy … [Read more...]