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Tag Archives: collateral

I Am Being Sued for Not Having the Collateral. – Mike

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I took a loan for 176 and had too repay 250 I paid about three payments before renewing it. now i haven’t been able too pay the payments for about two months. so they are sueing me for not having the collateral that i put down. i’ve offered too make payments at a lower payment for two weeks in stead ... Read More »

The Lender is Threatening to Arrest My Son Because He Sold the Collateral For the Loan. – Pat

justball-144x125

“Dear Steve, My son got a loan from Security Financial and used several items as collateral. He recently lost his job, fell behind on payments, and they came to the house to tell him that they would be taking him to court to get the collateral since he couldn’t pay. He told them he sold the collateral to make previous ... Read More »

What Happens if I Default on My Stock Options Loan? – Joyce

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Joyce “Dear Steve, Retired from 5/3 Bank in 2003 I was offered a loan to purchase my Stock Options. These options were at $40.+ and $50.+ per share. I have a loan for $36,300 at prime with quarterly interest with no maturity date. The stock price now is around $2.00 per share. The collateral for this loan is the stock. ... Read More »

Jake Wants His Transcript But He Defaulted On His Student Loan Debt

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“Dear Steve, I currently owe $30,000 directly to a university as a collection with 6% interest. They will not release my transcripts from my one year of study at the university until I have paid the amount in full. I am making the minimum payment every month, but my income is roughly $12-13 an hour because all I have is ... Read More »

Jerry Wants to Know How to Repay Debts He Can’t Afford

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“Dear Steve, I have a time deposit at the bank and borrowed 80% of it using the deposit as collateral. I already skipped 3 payments even for the interest alone. My car is also mortgaged at another lending firm and I already skipped 2 monthly payment for my amortization. I have a small business but the income I get is ... Read More »

Is Debt Consolidation a Viable Debt Solution For Unsecured Debt?

justball-144x125

It seems like every day the question of debt consolidation comes up and I think it is starting to drive me a little crazy. Some where in the human DNA is a gene that makes people think that when you have problems paying your bills that debt consolidation is the natural debt solution. If I had my choice I’d rather ... Read More »

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