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LSDefine

Simple English definitions for legal terms

consumer loan

Read a random definition: modica differentia

A quick definition of consumer loan:

A consumer loan is when someone borrows money from a bank or other lender for personal reasons, like buying a car or paying for a wedding. The borrower has to pay back the loan with interest over time. There are different types of consumer loans, like installment loans where the borrower pays back the loan in equal parts, or home equity loans where the borrower uses their home as collateral. It's important to read the loan agreement carefully and understand the terms before borrowing money.

A more thorough explanation:

A consumer loan is a type of loan that is given to an individual for personal, family, household, or agricultural purposes. It is usually governed by truth-in-lending statutes and regulations. The borrower is required to pay back the loan amount with interest over a specified period.

Examples:

  • John applied for a consumer loan to buy a new car.
  • Mary took out a consumer loan to pay for her daughter's college tuition.

These examples illustrate how a consumer loan is used for personal or family purposes and must be paid back with interest over time.

consumer lease | consumer price index

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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