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Interest
Interest is a fee paid on borrowed capital. Assets lent include money, shares, consumer goods through hire purchase, major assets such as aircraft, and even entire factories in finance lease arrangements. The interest is calculated upon the value of the assets in the same manner as upon money. Interest can be thought of as "rent on money".
The fee is compensation to the lender for foregoing other useful investments that could have been made with the loaned money. Instead of the lender using the assets directly, they are advanced to the borrower. The borrower then enjoys the benefit of using the assets ahead of the effort required to obtain them, while the lender enjoys the benefit of the fee paid by the borrower for the privilege. The amount lent, or the value of the assets lent, is called the principal. This principal value is held by the borrower on credit. Interest is therefore the price of credit, not the price of money as it is commonly - and mistakenly - believed to be. The percentage of the principal that is paid as a fee (the interest), over a certain period of time, is called the interest rate.
Fifth Circuit Releases Interest-ing Opinion on Chapter 13 Interest Rates
The Fifth Circuit has released a new opinion on interest rates in chapter 13 cases. Drive Financial Services, L.P. v. Jordan, 2008 U...
L&C Law Dean Robert Klonoff on the ‘Barack Effect’ Creating Interest in Public Interest Jobs
L&C Law Dean Robert Klonoff on the ‘Barack Effect’ Creating Interest in Public Interest Jobs
IRS INTEREST CONTINUES IN SUCCESSIVE MEMBER INTEREST CONTRIBUTIONS
In August 2007, the IRS issued a Notice [Notice 2007-72] that it was designating a form of charitable contribution as an item "of interest...
Two new Connecticut Public Interest Law Journal articles of interest
Two articles of interest: Jane Gravelle & Jennifer Gravelle, Taxing Poor Families: The Evolution of Treatment Under the Federal Income Tax, 7 Conn...
An interest in public interest at my alma mater
I am about to get on a plane for a quick trip to Boston to attend part of this Harvard Law School event, "A Celebration of Public Interest...
Interest Arbitration Could Not Be Mandated By Interest Arbitrator
Boston Globe Union Looses Dispute Over Arbitration is an interesting August 14, 2009 National Law Journal. Unfortunately, though the article raises an important issue, it does not adequately explain the legal issues...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
How to stop harrassing calls from ex-boyfriend?
I would pray on him to not keep on harrassing me and i'm telling you it wil...
I had a credit card which was charged off at a balance less than 200.00. Now the balance is over 500.00. I know this includes fees. I am aware they can charge interest, but can the credit card company bill fees, as well?
Yes. But they will often waive off the excessive fees if you offer a payment. If...
I am aware of the true definintion of a charge off. But if a creditor writes off an amount owed and closes the debtor's account, doesn't that make the balance zero? Can the creditor continue to charge the debtor interest
Yes, a creditor can continue to charge a debtor (customer) interest even if the ...
My son will be 3 years old in December; his biological father has not seen nor given him anything since birth. We were never married. I am now going through some hard times and I'm considering taking him for support. Is
I know those funds would belong to my child, I want to make sure my child is wel...
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Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
How to stop harrassing calls from ex-boyfriend?
I would pray on him to not keep on harrassing me and i'm telling you it wil...
I had a credit card which was charged off at a balance less than 200.00. Now the balance is over 500.00. I know this includes fees. I am aware they can charge interest, but can the credit card company bill fees, as well?
Yes. But they will often waive off the excessive fees if you offer a payment. If...
I am aware of the true definintion of a charge off. But if a creditor writes off an amount owed and closes the debtor's account, doesn't that make the balance zero? Can the creditor continue to charge the debtor interest
Yes, a creditor can continue to charge a debtor (customer) interest even if the ...
My son will be 3 years old in December; his biological father has not seen nor given him anything since birth. We were never married. I am now going through some hard times and I'm considering taking him for support. Is
I know those funds would belong to my child, I want to make sure my child is wel...
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