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LSDefine

Simple English definitions for legal terms

consumer loan

Read a random definition: Federal Appendix

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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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