Convert To Ppt Legal West Virginia Loans Lending Forms For Free

Consumer lending includes closed- and open-end credit extended to individuals for household, family, and other personal expenditures and includes credit cards, auto loans, and student loans.

Consumer loans are mortgages, credit cards, auto loans, education loans, refinance loans, home equity loans, and personal loans. The documents required for consumer loans are identity proof, address proof, income proof, and other documents such as a current credit card or loan statement.

Consumer lending includes closed- and open-end credit extended to individuals for household, family, and other personal expenditures and includes credit cards, auto loans, and student loans.

Key Takeaways. Consumer credit is credit issued to individuals that is not collateralized. Installment credit is provided in a lump sum and then repaid in regular installments over a set period of time. Revolving credit is an open-ended loan that may be reused indefinitely as you pay the balance.

There are 10 basic provisions that should be in a loan agreement. Identity of the parties. The names of the lender and borrower need to be stated. ... Date of the agreement. ... Interest rate. ... Repayment terms. ... Default provisions. ... Signatures. ... Choice of law. ... Severability.

To draft a Loan Agreement, you should include the following: The addresses and contact information of all parties involved. The conditions of use of the loan (what the money can be used for) Any repayment options. The payment schedule. The interest rates. The length of the term. Any collateral. The cancellation policy.