What Happens If You Default on a Loan? If you default on a loan, the lender can take legal action to recover the money you owe. This can include taking money out of your bank account, garnishing your wages, or filing a lawsuit. Defaulting on a loan can damage your credit score and make it…
If you’re looking to get approved for a car loan with no credit, there are a few things you can do to increase your chances. Follow these tips and you’ll be on your way to getting the car you want. Checkout this video: Introduction If you have no credit, you may be wondering how you…
If you’re wondering when your student loan payments will start again after a deferment or forbearance, we’ve got you covered. Checkout this video: Introduction Student loan payments can seem like a distant memory when you’re in the thick of finals and graduation. But eventually, the six-month grace period on your loans will come to an…
How to Calculate a Simple Interest Loan. This tutorial provides a step-by-step guide on how to calculate a simple interest loan using Excel. Checkout this video: Introduction Simple interest is a quick and easy way to calculate the interest charge on a loan. It’s not the most accurate method, but it is the simplest. You…
If you’re wondering what a principal balance is on a loan, you’re not alone. Many people don’t know what this term means, but it’s actually quite simple. A principal balance is the remaining amount of money that you owe on a loan, excluding any interest or other fees. Checkout this video: What is a Principal…
You may be surprised to learn that you can finance a manufactured home with a conventional mortgage. Read on to find out how and see if you qualify. Checkout this video: Introduction if you’re in the market for a manufactured home, you probably already know they’re a little different from regular, site-built homes. But obtaining…
How to calculate interest on a car loan? The answer isn’t as simple as you might think. Check out this blog post for a step-by-step guide on the formula. Checkout this video: Introduction Introduction Calculating the interest on a car loan is actually very simple. All you need is the loan amount, the interest rate,…
We all know that interest rates on business loans can be pretty high, but what exactly are business loan interest rates and how do they work? Checkout this video: Introduction When you’re shopping for a business loan, one of the first things you’ll notice is that interest rates can vary widely. They may be expressed…
Wondering how to apply for a FAFSA loan? Get all the information you need to know about the process and what you need to do to get started. Checkout this video: Introduction The Free Application for Federal Student Aid (FAFSA) is the form that families fill out to apply for federal student aid. This includes…
The PPP Loan is a federal loan designed to help small businesses keep their workers employed during the COVID-19 pandemic. In order to qualify for a PPP Loan, your business must: -Have 500 or fewer employees -Have experienced a 25% or more decrease in revenue in 2020 compared to 2019 -Be in an industry that…