![]() A personal loan is money lent through a financial institution like a bank or an online lending marketplace that can be used to pay down credit cards, consolidate debt, or cover a wide range of expenses. Personal loans come with fixed monthly payments over a set period of time. |
![]() Most" people don't' realize that if they are behind on their debt payments and are going through some trying times, their lenders will often consider negotiating a revised payment plan or possibly forgiving a portion of the debt. For lenders, negotiating is cheaper than either hiring a collection agency or risking that the individual might have their debts cleared in a bankruptcy proceeding. |
![]() Dealing with financial securities is connected to the question of ownership: in the case of person-to-person loans, the problem is who owns the loans notes and how that ownership is transferred between the originator of the loan the person-to-person lending company and the individual lenders. |
![]() One who lends, especially money; specifically, a bank or other entity that specializes in granting loans. Shakespeare, Hamlet, circa 1602, Act 1 scene 3, Polonius speaks 1 Neither" a borrower nor a lender be: For loan oft loses both itself and friend; And borrowing dulls the edge of husbandry." |