Can we request bank to waive off loan?

No, unless they step in, there’s no scope of Banks waiving off personal loans.

Can a bank revoke a loan on a car after I signed the contract?

Review your contract carefully for a “seller’s right to cancel” clause before signing anything. The dealership will attempt to sell your contact to a finance company or bank, and they typically have a certain number of days to do so—after which they may cancel your contract.

Is it bad for a bank to write off a loan?

Basically, loans which have been bad loans for four years (that is, for one year as a ‘substandard asset’ and for three years as a ‘doubtful asset’) can be dropped from the balance sheets of banks by way of a write-off. In that sense, a write-off is an accounting practice.

How can I waive my loan?

Loan Write-off vs Loan Waive-off The borrower need not pay the outstanding loan amount. The individual is free from the burden of repaying the outstanding loan amount. It means complete cancellation of loan recovery by the lender. Here, the loan will be written off by your lender to have a clean balance sheet.

How long does a bank have to cancel a car loan?

If you buy a car that is financed through the dealership, the dealer CAN cancel the contract, but only if it notifies you within 10 days of the date on the purchase contract. This type of financing is sometimes called a “spot delivery.” It is based on the language of the purchase contract.

Can I have 3 car loans?

There is no limit on how many car loans you can have. But your income and credit have to be able to accomodate new car loans. Do the math, check your credit score and if everything adds up, you can apply for a new car loan.

Can I use husband’s income to buy a car?

You can combine (comingle) incomes for a car loan with your husband or wife. When you comingle funds with a co-borrower, it not only makes it easier to get approved, you both could qualify for a better interest rate and lower monthly payment, or a better choice of vehicles.

Can a bank declined a loan after approval?

Even though you might be earning the same money (or MORE) some banks will decline your loan after your pre-approval if you have recently switched jobs. This is because (some) banks want to see you in your role for at least 6 months, and don’t like it if you have a history of lots of jobs over the short term.

Can I cancel a pre approved loan?

The short answer to your question is that a mortgage pre-approval can be cancelled if your personal or financial circumstances change. Your pre-approval is conditional and based on the information you provide the lender. If that information changes, your pre-approval is subject to cancellation.