October 5 - o When comparing loan rates use the APR Cost of...

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14:54 October 5, 2010 Student Loans o Directly from the government or indirectly (stafford loans) Auto Loans – Installment types Things you need to know before u borrow o Know loan costs o Know terms of loan, know the details PayDay Loans Watch out for the interest rates I = PRT   o Interest = Principle x rate x time Amortization Schedule  o Shows the amount of every payment going to INT and to Principle  o They always take INT first then reduce the principle Interest Rate VS Annual Percentage Rate o APR  - effective rate you pay taking into account the fees
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Unformatted text preview: o When comparing loan rates use the APR Cost of Debt o Interest o Fees o Freedom How do you get the best rate o Know someone in the industry o Have a good credit score o Collateral o Time Frame When in trouble with debt o Use savings o Debt consolidation o Change your spending habits o Increasing income o Decrease expenses o Work with the lenders o Credit counseling companies o Bankruptcy o 2 types of ^^ ch.13 repay the lenders, with the terms o Ch.7 total debt dismissed o 14:54 14:54...
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October 5 - o When comparing loan rates use the APR Cost of...

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