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Is personal loan interest deductible

To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments.

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Is personal loan interest deductible

First, under federal law, creditors are required to give you a notice that explains your obligations. The cosigners notice states: If you need to cosign a loan consider the following first. Be sure you can afford to pay the loan. Defaulting on is personal loan interest deductible cosigned loan can result in a lawsuit or a damaged credit rating. You may be able to negotiate the terms of your obligation. For example, you may ask to limit your liability so that you wouldnt be obligated to pay any late fees, court costs, or attorneys fees.

Is personal loan interest deductible

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Is personal loan interest deductible

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Is personal loan interest deductible