12, with a total payback amount of 2,269. 44 which including the 3 fee paid from the loan amount, would have a total cost of 329.
Representative 29. 82 APR. If you borrowed 5,000 over a 48 month period and the loan had an 8 arrangement fee (400), your monthly repayments would be 131. 67, with a total payback amount of 6,320.
Examples of securities include real estate, equipment stocks or a co- signer. Mortgages are a form of security with strong legal standing, because they are publicly registered following a formal legal procedure. A mortgage gives the lender holding a mortgage security the right to reclaim the asset being financed, if repayment is not made.
Senior Debt Debt that must be repaid before subordinated debt receives any payment in the event of default. Subordinated Debt (Junior Debt) Debt over which senior debt takes priority. In the event of bankruptcy, subordinated debt-holders receive payment only after senior debt is paid in full.
Debt restructuring is mainly used to consolidate and restructure existing debts, into a longer tenure, more affordable installments.
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