Debt Management

When a borrower and lender agree to the terms of a loan, they also agree to the terms of the repayment schedule. This schedule includes the monthly payment amount, the date the payment is due, and any fees or penalties associated with late or missed payments. This agreement is typically documented in a promissory note. … Read more

The term “full-recourse debt” refers to a type of debt agreement in which the borrower is fully responsible for repaying the debt, even if the collateral used to secure the loan is forfeited. In other words, if the borrower defaults on the loan, the lender can come after the borrower’s personal assets to repay the … Read more