Word Origin and History for loan. mid-13c.from Old Norse lanrelated to lja "to lend," from Proto-Germanic laikhwniz (cf. Old Frisian len "thing lent," Middle Dutch leneDutch leen "loan, fief," Old High German lehanGerman Lehn "fief, feudal tenure"), originally "to let have, to leave (to someone)," from PIE leikw- "to leave" (see relinquish).
The Norse word also is cognate with Old English læn "gift," which did not survive into Middle English, but its derived verb lænan is the source of lend. As a verb, loan is attested from 1540s, perhaps earlier, and formerly was current, but has now been supplanted in England by lendthough it survives in American English. Loan word (1874) is a translation of German Lehnwort ; cash advance loans augusta ga is attested 1933, from German Lehnübersetzung.
Slang loan shark first attested 1900.
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Unsecured debt (debt with no collateral securing it) is divided into priority and non-priority classifications. Priority unsecured debt is debt without collateral securing it that the Bankruptcy Code has determined must be repaid in priority order, ahead of non-priority unsecured debt.
Examples of this type of debt are child support cash advance loans augusta ga deficiencies, recent tax debt, recent wages owed to former employees, and so forth. Non-priority unsecured debt is everything else: credit card debt, medical debt, personal loans, deficiency debts lingering after auto repossession or a home foreclosure-and payday loans.
Payday loans are, like all non-priority unsecured debt, totally dischargeable in bankruptcy. Payday Loans in Bankruptcy: Some Pitfalls. Payday loans do present some potential hazards in a bankruptcy filing, however.