Debt
Borrowing from family replaces the paperwork with the relationship
A loan between people who know each other removes the interest and the credit checks, and puts something…
· 3 min read
Debt
Interest, order of repayment, and the difference between kinds of borrowing.
Debt
An overdraft is borrowing that begins without any decision to borrow
Because the facility sits inside the account that everyday spending runs through, it is entered by…
· 3 min read
Debt
An overpayment can shorten the loan or lighten the payment, and the default is not the same everywhere
Paying extra towards a debt has two possible effects with very different values, and which one happens is…
· 3 min read
Debt
A deposit does three separate jobs, and only one of them is reducing the loan
Money put down at the start of a secured purchase shrinks the amount borrowed, changes the price the lender…
· 4 min read
Debt
A debt held jointly is not half a debt each
Two names on a borrowing agreement usually means each person is answerable for the whole amount, which is a…
· 4 min read
Debt
A debt that changes hands is still the same debt
When a balance is sold or passed to a collection firm, what is owed does not change, but who is asking…
· 4 min read
Debt
A loan should not outlive the thing it paid for
Matching the length of a borrowing to the useful life of what it bought is the difference between paying…
· 3 min read
Debt
Some borrowing has an end date built into it and some does not
Instalment credit is designed to finish and revolving credit is designed to continue, and that structural…
· 4 min read