Boat Loan Security
what rights a person has, if they are unable to pay their mortgages because of the difficulty?
a lady has a fishing company and registered use your Boat as collateral for a loan. due to severe weather conditions your boat was anchored most of the year. so she is unable to pay their mortgage on time and is in debt. the bank has warned that the boat was in danger of being seized and sold to another interested buyer.
The only medicine that she has is to pay your mortgage on time. The boat is their only source of income from the time, even if thre is a sever weather affecting your business I doubt that fishing companies is their only source of bread and butter. She has to find other revenues to pay its debts, since she is in her dire strait she can ask the bank to another contract for his boat so that she will be given sufficient time to find other sources of income.
MoMa Design Store, Microlink
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Edward Fitzgerald and Posh $21.49 Used – Excerpt from book: CHAPTER II “REMEMBER YOUR DEBTS” IN 1866 Posh became the owner of a very old deep-sea lugger named the William Tell, and, to enable him to acquire the nets and gear necessary for her complete equipment as a North Sea herring boat, he borrowed a sum of 50 from Tom Newson, and a further sum of 50 from Edward Fitz- Gerald. FitzGerald thought that Newson should have security for his loan (vide Two Suffolk Friends, p. 104), but Newson refused to accept any such thing. He, to |
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Edward Fitzgerald and Posh $33.38 Used – Excerpt from book: CHAPTER II “REMEMBER YOUR DEBTS” IN 1866 Posh became the owner of a very old deep-sea lugger named the William Tell, and, to enable him to acquire the nets and gear necessary for her complete equipment as a North Sea herring boat, he borrowed a sum of 50 from Tom Newson, and a further sum of 50 from Edward Fitz- Gerald. FitzGerald thought that Newson should have security for his loan (vide Two Suffolk Friends, p. 104), but Newson refused to accept any such thing. He, to |
