Guide to Loan terms
Listed below is a guide to loan terms. It is a useful list of definitions of loan terms that may or may not be familiar to you. Keep it nearby as you will never know when you might need it for quick reference. Accrue Process in which interest accumulates on a borrower's loan. Amortization A repayment method in which the amount you borrow is repaid gradually though regular monthly payments of principal and interest over the term of the loan.
Annual Percentage Rate (APR) The APR shows the cost of a loan expressed as a yearly interest rate, including the interest and other fees associated with the loan. Application First step in the official loan process to gather and record information about the potential borrower. Borrower Person who has been approved to receive a loan and is then obligated to repay it. Capitalization Adding unpaid accrued interest to the principal balance. Capitalizing interest increases the principal amount of the loan and the total cost of the loan.
Collateral Property pledged as security for a loan to ensure repayment of a loan. Credit Agencies/Credit Bureaus Organizations that collect individual consumer credit information and provide credit reports to potential lenders. Credit History History of an individual's debt repayment. For most types of loans, lenders use this information to gauge a potential borrower's ability to repay a loan. Credit Rating Grade assigned to denote the net worth and credit standing of an individual or a business.
Credit Report Record that lists all past and present debts and the timeliness of their repayment and documents an individual's credit history. Debt Amount owed to another that must be repaid. Default Failure to repay a loan according to the terms of the loan. Delinquency Failure of a borrower to make a timely payment on a loan. Interest Fee charged for the use of money.
Interest Rate The amount of interest charged on a loan, usually expressed as a percentage. Lender Entity that provides loan funds to the borrower. Depending on the type of loan, the lender may be a bank or other financial institution. Loan Money borrowed from a lending institution, usually repaid with interest. Loan Applicant Party applying to the lender for a loan.
Note Binding legal document you sign when you get a loan. It lists the conditions under which you're borrowing and the terms under which you agree to pay back the loan (also called a promissory note or a mortgage note). Payment Periodic (usually monthly) instalments paid to a lender to be applied toward repaying your loan. Principal Loan amount borrowed from a lender, not including interest or additional fees. Repayment Process of paying back borrowed money.
Term Time limit within which a loan must be repaid. Variable Interest Rate Interest rate that changes periodically in relation to an index. Payments may increase or decrease accordingly. You may freely reprint this article provided the author's biography remains intact:.
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.Used Ophthalmic Equipment Basics
There are many distributors of ophthalmic equipment who offer both new and remanufactured or refurbished machines. Some of the more common types of remanufactured equipment are slit lamps, phoropters, chairs and stands. It is typically higher-end equipment, which are remanufactured or refurbished and offered for resale. The reason being, that they can be offered at a substantially reduced price compared to new ophthalmic equipment, and the distributor still makes a reasonable profit. However, it is generally unwise to consider purchasing used surgical equipment, as many procedures require critical, flawless performance, which used equipment generally does not offer.
New practitioners that want to keep costs down are typically the buyers of remanufactured or refurbished equipment.
It is not unusual for these practitioners to purchase more than one piece of equipment, in an effort to set up a fully equipped examination lane.
It is quite easy to see the cost...
Debt consolidation > Used Ophthalmic Equipment Basics
Secured Loans Information
A secured loan is a personal loan which is generally offered to home owners. In a typical secured loan, the home is used as collateral against the loan, meaning that should you be unable to maintain the loan repayments, your home will be at risk. A secured loan is a loan made with an asset, often your home, used as security against default on repayments. When you apply for a loan from a lender they look to see if you have any security that you can offer that will make the risk of lending you money less of an issue. Secured loans are where you agree to offer the lender security over your home.
This means that the lender has the right to take ownership of this asset if you fail to make the loan repayments that are due under your agreement. This security will generally be your home even if you still have a mortgage on the property. This security basically makes a lender feel better about your ability to repay your loan. You put your security up as a guarantee to the lender so that...
Secured Loans Information
Debt consolidation > Secured Loans Information
5 options on how to Get out of Debt
(ContentDesk) Aug. 9, 2005 -- Option 1 ? Pay the debts off yourself If you are in a financial position to take care of the debts yourself, this is your best possible scenario.
Option 2 ? Consolidation/Consumer Credit Counseling Services (CCCS)The banking world has developed a brilliant marketing concept of home equity loans to help "consolidate" your outstanding debt.
They sell you on the idea of a lower overall interest rate and a better tax break, but does the debt ever really get paid off.
This concept is merely robbing Peter to pay Paul.
Does it make sound financial sense to take unsecured debt and secure it with your most valuable asset, your home?
CCC organizations were originally set up by Visa in the early 1980's as a means of recovering money from thousands of people that were starting to fall behind on their payments.
Truth is, over 50% of all people who start a CCC program never actually complete paying off their debt.Option...
Debt consolidation > 5 options on how to Get out of Debt
Collection Agencies
In an era of increased lending and borrowing activities and business conducted on credit and good faith, recovery of debts is a major concern for most businesses. When companies fail to recover funds due to them, they seek the help of collection agencies. Tracking down defaulters and implementing a debt recovery solution can be a drain on time and finances, particularly for small businesses. A collection agency is an organization that obtains or arranges for payment of money owed to a person or company. They help establish a level of communication between the creditor and the debtor.
Businesses that are either too small to have a collection department of their own or lack the expertise to collect on past due
accounts themselves, engage the services of collection agencies. It also helps to protect a company's image to have a third party deal with these sensitive issues.
Collection agencies have the time and resources necessary to collect debts....
Debt consolidation > Collection Agencies
Affiliates: The Legal Way to Start Making Money The Extended Version
There are two ways of making quick and continuous (they keep paying you) money on the net. Refer something (affiliate) or make something from your ideas (e-books) What are Affiliates? Companies pays for telling others about their products, but only if someone buys something from them. Just check the bottom of any online store or dealer that you like and see if they have a referral or affiliate program. If you can't find a good affiliate program try http:/www.affiliatematch.com/
Then check out this site
Discover the Way of the Tortoise and Leave the Rat Race behind. http://www.sitesell.com/Adam23.htmlAnd win an amazing prize http://specialprize.sitesell.com/Adam23.htmlThe Secret to A Steady Income Online Without Creating Your Own Product!
Do you need a webpage? No, but it would help.
Just get the link...
Affiliates: The Legal Way to Start Making Money The Extended Version
Debt consolidation > Affiliates: The Legal Way to Start Making Money The Extended Version
Have a New Born in the Family? Here are Some Easy Ways to Save Money.
Copyright 2006 Debt Management Credit Counseling Corp.
Boca Raton, FL ? Everyone knows the cost of raising a child has dramatically increased throughout the years. With all the new styles of clothing, diapers and kinds of baby food, these items are more expensive than they once were. Here are a few simple ways to save.
Breastfeeding
The first and easiest way to save money is breastfeeding. Besides all the natural benefits of breastfeeding, it will save you thousands of dollars yearly on buying baby formula.
Make Your Own Baby Food
When you are shopping down the baby isle at your local grocery store, baby food does not seem that expensive. But, what people do not realize is how little food and how much water is actually in the jar.
You can buy apples to make homemade apple sauce. You can mash bananas, pears and peaches. Or just throw a bunch of fruit in a blender. Your baby will get more nutrients eating your homemade...
Have a New Born in the Family? Here are Some Easy Ways to Save Money.
Debt consolidation > Have a New Born in the Family? Here are Some Easy Ways to Save Money.
JK Harris Offers Customers New IRS Payment Option to Help Shed Debt
NORTH CHARLESTON, S.C. (ContentDesk) August 5, 2005 -- An IRS payment option implemented in January of this year may be able to help American taxpayers alleviate past due tax debt and allow the IRS to enter into agreements that result in full or partial payment of a tax liability, according to JK Harris & Company, LLC.Called the Partial Payment Installment Agreement, the PPIA is for taxpayers that have outstanding federal tax liabilities.
The new option became possible with the passage of the American Jobs Creation Act of 2004.
Prior to enactment of this legislation, taxpayers that could not fully pay their outstanding tax liabilities did not qualify for an Installment Agreement.
This left taxpayers unable to meet this criterion with limited payment options.JK Harris & Company, LLC, the nation's largest tax resolution company, is headquartered in North Charleston, S.C., and was founded in 1997 by current President and CEO John K.
Harris as a tax resolution...
JK Harris Offers Customers New IRS Payment Option to Help Shed Debt
Debt consolidation > JK Harris Offers Customers New IRS Payment Option to Help Shed Debt
Stock Market Basics And Techniques
Investing in the stock market is very complicated and can be quite risky if you don't know what you are doing.
It is not prudent to simply pick a stock to invest in by deciding if you like the company name or not.
You should research the company before you risk your money.
Some basic facts you should learn about any company you want to invest in are included in the companies prospectus which you should read thoroughly before spending a dime.
1) Revenue. This refers to the amount of money the company makes.
Although some companies that are still in the early development stage have no revenues to offer, many of the companies that have been in the market for years make use of the revenues to cover some losses and other costs.
2) Earnings. This refers to the money the company makes. Aside from revenues, the earnings are the money that would not be used in covering expenses. These are the extra money the company...
Debt consolidation > Stock Market Basics And Techniques
IT Productivity Conference to be Held in Toronto, ON on May 18, 2006
Toronto, ON (ContentDesk) April 14, 2006 -- Computer Aid (CAI) is hosting a one-day seminar in Toronto, ON that will show CIOs and senior IT practitioners how to dramatically improve the productivity and quality of their software development and maintenance organizations.The conference will include keynote presentations by Paul Strassmann, former CIO for the US Department of Defense, and Dr. Herb Krasner of the University of Texas and the Software Quality Institute. The venue for the conference...
hearing aid IT Productivity Conference to be Held in Toronto, ON on May 18, 2006 Debt consolidation
Debt consolidation > IT Productivity Conference to be Held in Toronto, ON on May 18, 2006
The All-Natural Bodybuilder Diet
You may never have believed that you could have your own set of "six pack abs", but now you can get leaner and be more muscular by following a very special dieting and exercise plan that Tom Venuto, author of the wildly popular eBook "Burn the Fat, Feed the Muscle", has developed.Venuto states that over 90% of his more than 600 coaching prot?g?s are "regular people" just like you and me ? they include teachers, students, parents, business owners, accountants, musicians, financial planners and...
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Debt consolidation > The All-Natural Bodybuilder Diet
Car Accidents
Even with all the current safety precautions and rules and regulations currently implemented, car accidents continue to rise in numbers. Public awareness has increased due to the various public campaigns that have been arranged for this purpose in recent times, but car accidents still happen much too frequently.
Accidents may happen due to a defect in the car or due to reckless driving of the driver. Of course, it could be possible that accidents occur due to the fault of another...
Debt consolidation > Car Accidents
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Debt Consolidation Loan
Debt Consolidation Loan?by: John MussiDebt consolidation loans can give you a fresh start, allowing you to consolidate all of your loans into one - giving you one easy to manage payment, and in most cases, at a lower rate of interest. If your objective is to reduce interest rates and lower your monthly payments, avoid bankruptcy, consolidate your bills and have one monthly payment, or simply get out of debt the fastest way possible, then a debt consolidation loan could provide the...
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Debt consolidation > Debt Consolidation Loan
Debt consolidation
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