Bank Levy Basics

When you owe money, creditors may use a bank levy to collect. They can’t get you to pay, but they can try to take money from your accounts. By using a bank levy, creditors have your assets frozen and paid to them so you can’t spend the money. Bank Levy Basics A bank levy happens…

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Non-recourse loan and a recourse loan?

When you borrow money, it’s important to understand what’s at risk. What happens if you fail to repay the loan?  If it’s a recourse loan, the lender/ investor can come after you , as apposed to simply going after the collateral (the collateral might be property you purchased with the loan proceeds.  With a non-recourse…

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