A person or body that provides another with a sum of money (loan) is called the creditor and the person borrowing the sum is called the debtor; this is usually finalized in a binding and legal written agreement that ensures the borrower repays the lender. Whilst just about anything, product or service can be lent out; the information below focuses on financial arrangements only. Loans are required to be paid back and this is normally within a period set at the commencement of the contract; the usual repayment method is based around monthly installments but this period can be longer. (more…)
Posts Tagged ‘bank’
All About Loans, Creditors and Debtors
Monday, June 2nd, 2008Applying For a Loan — Tips
Monday, May 5th, 2008Applying for a loan may sound like a simple process because the finance companies make great efforts to make it this way but there are facts you should know first. Unless you carry out some checks first how do you know you are applying for the right one? Whatever type of loan you are applying for, you should follow these basic rules to help you find the best deal. When searching for a loan, it always pays to do your research; however, by looking around you will be surprised just how much money can be saved. (more…)