|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|
Why would a loan company choose legal action over a reasonable solution?
1. Skip a couple months of payments and add them on to the end of loan (the company gets all of the money back borrowed including the 30% interest being charged)
2. Lower the interest rate which would lower monthly payments (the company gets back all of the money borrowed with a little less interest)
3. Freeze the interest rate (the company gets back all of the money borrowed)
They actually negotiate these types of terms rountinely. Most banks are not interested in forclosures. It is a last resort for them since it is not a cost effective solution for them.
I would have thought that if a company knows that a person can't afford the payments agreed on, then they should cut their losses and get back as much as they can. I know many companies will use legal action as a threat but don't carry it through. The reason being is that legal costs are so expensive whether they win or loose that there is no point in pursuing this line. So why this company is not accepting the terms you highlighted is a bit of a mystery - the only thing I can think of is that they are not convinced that the agreed payments cannot be met and so are refusing to accept less than the contract states.
The initial request to ‘skip’ a few payments and add them to the end of the loan was months ago, -(an attempt to stay on track while figuring out a plan before missing payments… seemed like the responsible thing to do… and there is absolutely no loss
Then I think this company are just being stupid and nasty!
Yes, they certainly can be vindictive. Saw a loan manager toss a heating stove out the door in the winter-time for late payments once. Outside of a crummy bed or two it was the only large item the poor family had in the house.
by Kylyssa Shay2 years ago
A few of my hubs have been copied by a site hosted by GoDaddy. I looked up their page about copyright infringement and something about the DMCA wording and the way that the counter notice was worded made me a little...
by 123chri1237 years ago
I keep getting phoned,but When I pick up,there is no one the other end of the phone.I went to the phone company,they couldn't help me out.I contacted the police and they tracked the calls to a barber's shop.What...
by Kathryn LJ8 years ago
What would you do if a close friend asked you for a large loan and after taking the money refused all contact with you and claimed that you had given them the money as a gift?
by peanut037 years ago
is there any legal action that can be done?I was on schedule to start my new job today..... I arrived and the manager who hired me says...that he has employees that say that if i were to work there they would be upset...
by sansicario7 years ago
Do I have a right to see the reference my boss wrote
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.