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Lenders are required to send you an Adverse Action notice any time they deny credit based on data they obtained from your credit report. That notice should give a high level reason for the denial. It usually shows up in the mail shortly after you're denied. Have her keep an eye out for that letter, and if she doesn't get it soon, have her call the bank and ...


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Appreciate all the responses, I did end up calling the dealer and they did refund the full amount. I learned through making some phone calls all around the area that each dealer has its own policy. This one's policy is to provide a full refund. Keep the refund policy in mind when it comes to the buying a motorcycle because it seems as long as nothing has ...


3

The law is a mixture of state and federal law. From California: Used Car Buyers Consumers who purchase a used car for less than $40,000 must be offered a two-day contract cancellation option agreement. NOTE: There is no "cooling off" period unless you purchase a contract cancellation option agreement. EXCEPTION: The contract ...


1

Lack of information should not hurt your credit score. Most property owners do not report rent paid to credit bureaus - only collectors if rent has been missed and reported to a collector. So not having to pay rent should not be a red flag. Where it might hurt is when you apply for a mortgage or other personal loan and they look at your home ownership (to ...


4

Besides the definition of the words "loan" and "credit", the wording of your question implies that you're actually asking for the difference between a Term Loan and a Line of Credit (LOC). With a term loan you receive the full initial balance up front, and pay interest on the entire remaining balance beginning on day 1, until the full balance is paid off. ...


5

The difference in common use is between reality and potential Note that this is specific to the use type, and i haggle along "loan" here. Accounting has other meaning (a credit is the opposite of a debit - i CREDIT your account with money paid in). This is not applicable here. If I give you a 100k loan you get 100k. You pay interest on that based on some ...


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https://www.accountingtools.com/articles/2017/5/17/debits-and-credits A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account. It is positioned to the right in an accounting entry. For consumers -- and businessmen who aren't accountants -- the bolded part "credit ... increases a ...


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You need to ask the bank. There is no standard, and different card issuers behave in significantly different ways. Even within a specific bank, there may not be consistency from product to product, or even within a product, depending on when you opened it or other happenings: Some banks have all their cards cycle on the same day of the month (i.e. the 1st ...


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