what happens to a term loan that matures and you dont have the funds to pay the full amount back to the bank?
444153
Essentially you will default on the loan. The bank then has several options:\n*  if they have any collateral associated with the loan, they can take possession of it. This might mean foreclosure\n*  if they see any other assets that you own, they could try to take posession of these. Since you are already in bankruptcy, they are not likely to pursue that\n*  they might offer you an option to refinance. They are likely to do this if they think you're likely to keep the new commitment, and if the fees associated with the first two options would be significant in relation to the outstanding debt. \n\nSince you are already in default and bankruptcy, and with an overall debt of more than $25K, plus fees & charges, my bet is they will move to foreclosure.
711984
5-7 years, however the impact is less as time goes by.  Close to the 5-7 years period they will call you to settle on a smaller amount because they know it will drop of your report.\n\nAt this point you probably won't be paying the original loaner. Companies buy this bad debt for pennies on the dollar.  Say you had a bad debt for 1000.00  They buy it from the original loaner for 50.00 and try to get you to settle for 500.00.  450 profit for them.  They will attempt to make you feel guilty and tell you what how they are being helpful by letting you only pay 500.00  They can be nasty.
1022764
It depends if you are able to pay it back.
784783
a loan from the bank wait snap u have poor credit nvm idk
219670
Well even if you do have the money for something by taking a mortage loan you can get what you want and keep quite a bit of money in your account to use on other things.  You do end up paying more in the long run it just allows you to have it payed at a slower rate and especially for people new out of college they arent making as much as they probably will 10 years down the line
774254
Hi tthere Kit t,\n\nWhat happens alot of the time is when consolidating the lender does not consolidate all of your loans..\n\nIf this happened to you then you will actually be in luck,...\n\nIf you have one outstanding loan, my compnay can then consolidate you again by consolidating what ever samll loans you still ahve out there into your large consoliodated loan..\n\nThe reason this will benefit you is because we will offer you up to 3 years of forebarence at that point..\n\nMeaning, you wont have to worry about making a  payment to prioncipal or oibnterest for 3 years.. You can choose to send interest payments if you choose, but you will not be obligated..\n\nThis is what ido for alot of students that are looking to go back to school.. It can give you a little more breathing room until you are working full time makin genough moneY..\n\nGive me a call when you have a moment.. I would =eb happy to pull up yopur loans on the NSLDS (national student loan database system) This will tell us if we can re-consolidate you or not..\n\nAlso feel free tio check us out online.. Here is a link to my yahoo 360 profile which has links to our website as well..\n\n\n\nhttp://360.yahoo.com/profile-HlUDUhMib7M9Wlj6o6L2SfGcEYtkt9xsaQ--?cq=1\n\n\nLook forward to hearing from you!\n\nJason Fry\nStudent Aid Lending\n1-800-964-0642 ext 114\njasonf@studentaidlending.com
554234
Yes. First they have to get a deficiency judgment against you for the difference in court. Before they sue you for it try to negotiate a plan to repay the balance with the finance company or bank.
1125459
You need a lawyer to look over the loan papers. \nFinancial counselling helps you to keep your bills paid.
845282
get a job, put all you left over money in a drawer,  when the drawer gets full enough, go make you down pay't.  otherwise, you will probably be paying 25% interest on your loan.  don't borrow anything.  pay cash!!!
775008
As far as I know, as soon as the payment is past due they can turn you in to collections.  Usually it takes a few months though before they do that, as they will have to give a cut of the monies collected to the collection firm.
109857
There is always a loan provider willing to make a loan. The terms may be unfavorable..this is how the loan institution compensates for the risk. Attempt to find out why you are being turned down and fix that problem.
913111
Bad situation...maybe you get a loan from a bank or a lending company.
762730
You should check on a line of credit.  It costs about 1-2% of these amounts to extend credit depending upon the terms.  It is quite possible they were losing money on these because it costs them every time they write the paper.  Banks have very thin margins.  It takes a lot of money to just make a little.  A 10,000 loan not paid down and paid in 365 days on average yields 100-150 dollars total.  Every transaction costs money.  Each cleared check costs money.  Each contract costs money.  It is quite possible it isn't worth their time.
495903
If it is a Sallie Mae Loan you can't receive a bankruptcy break. If it is not you'll probably have to pay back about 20 - 25%.
151490
Yes, sometimes you can.  You may have to take an interest only loan, and one with a high interest rate, and you will probably be given terms of a hugh pre-payment penalty.  Not all lenders look strickly at the numbers, some actually do look at the over all picture and past history before your circumstances forced you into bankrupsy.  Good Luck, and keep looking as there are some companies out there!
1026107
you have to defer EVERY year until you earn about 2grand sterling per month, then they make yyou pay it back.\n\nIf you don't defer, you have to pay back what you haven't defered. (I am paying back 2 years that I missed, even tho I don't earn enough).
70668
They will offer you an 80/20 percent , 2 loans, the second will be the downpayment, and 2 years will be INTEREST ONLY!\n\nBe sure the loan officer not add too much for transaction...