Intellectual Property – Patents – Grants of Rights to Third Parties

A patent can be owned jointly. However, under s.36 of the Patents Act 1977 (“the Act”) each proprietor can use the patent for his own benefit without the consent of or the need to take account of the other proprietors but, under s.37 of the Act, if a proprietor wishes to licence the patent i.e to allow a third party to use the patent, he/she must either gain consent from the other proprietor or apply to the comptroller for permission to exploit the patent.

In Paxman v Hughes [2005] EWHC 2240 (Pat), the relationship between the joint proprietors of a patent for making a type of drinks cooler broke down. Mr Paxman and Mr Hughes were both directors of Trim Cool Limited, a company which they incorporated to produce a cooler under the patent.

Mr Paxman, the inventor, sought an order from the comptroller to grant a licence to third parties to make and supply drinks coolers under the patent. Mr Hughes opposed the application and contended that the comptroller had no jurisdiction to make the order sought on the following grounds:

▪ the order required an extra-territorial jurisdiction which did not fall within the comptroller’s jurisdiction;

▪ under s.36 and s.37 of the Act, the comptroller had no jurisdiction to permit a co-proprietor to grant commercial licences to third parties contrary to the wishes of another co-proprietor; and

▪ Mr Paxman’s fiduciary duties as a company director prevented him from seeking this order.

The hearing officer struck out the case because the order sought was in breach of Mr Paxman’s duties as a company director. Mr Paxman appealed on the grounds that the hearing officer erred in his findings.

On appeal it was held that:

▪ Mr Paxman was applying for the order as the inventor who was seeking to exploit the invention;

▪ Mr Paxman was therefore not applying in his capacity as a company director and hence was not necessarily breaching his fiduciary duties;

▪ the comptroller did have the authority to allow the applicant to grant a licence to a third party under s.37 of the Act; and

▪ the comptroller had a wide discretion to decide upon restrictions which would protect the other proprietor.

Comment: This case is an example of how problems may arise with co-ownership of intellectual property rights. It is therefore advisable to have a written agreement that delineates the rights of co-owners.

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Getting Help With Simple Home Improvement Tips

Home improvement may seem easy enough, but getting caught in the middle of it and its complexities can surely give you second thoughts. The truth is, the subject is real tricky; on one hand you can catch yourself shelling out large sums just to get some job done, and on the other you will simply realize that you can get around all those big expenses with just a shoestring budget and get the job done. And since the second option is more appealing, you want to get the most of it. What you need are simple but effective home improvement tips to help gear you up for this wonderful adventure.

• Adding a wooden deck promises better return on the investments made than when opting for composite ones. But to make things more complicated, note that wood needs more maintenance than composite materials. It’s worth weighing these options if you are thinking ahead in the long run. Whatever you have decided on, the addition of decks will always mean more square footage outside your home. And this will surely increase the value of the house once you’ve decided to put it up for sale.

• Another feature of home improvement tips that you should take into consideration is the issue with sidings. A fiber cement siding is increasingly becoming popular as an alternative to the traditional vinyl siding because it has all the attractive features that wood sidings posses, and none of its flaws. Getting your hands on fiber cement siding will also trouble you less when it comes to maintenance, aside from being termite and fire resistant. It’s paint colors can hold for a very long time.

• Improving your windows is a great thing, especially if you have a much older home. Aging windows are better replaced with vinyl windows. They look great wherever you place them; they are cost-effective and only require little maintenance.

• Home improvement tips can cover both major and minor projects. A minor kitchen remodel can do lots of good things for every home. It can be a simple countertop replacement with modern surfaces like granite, changing your cabinets with new, moderately-priced sets, or an upgrading of the appliances with newer models, preferably the quiet ones with stainless steel surfaces.

• Attics can always be used as extra bedrooms. One good way to expand the living space inside homes is the attic. This idea will not require you to build extensions that may look messy outside your house.

• The same thing goes to your basement. It’s a good space that you can exploit. Basements, especially those with at least a seven foot height from floor to ceiling can be transformed into recreation rooms or as guest suites.

Top it all off with a touch of landscaping. It can be a very simple and inexpensive way of enhancing your home’s appeal in a dramatic way. An improved walkway with plantings on both sides, complete with fencing can increase the value of your house. Improving our homes is an exciting journey; a good planning using these home improvement tips can do so many good things for the family.

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Think Like a Millionaire: How to Invest in Real Estate

Many people fail to see that skills fade, but assets are forever.

They don’t know their entire financial education in their lives is completely WRONG!

Too many people believe that a good job, good skills, and a positive attitude will make them great wealth. The problem is that it just doesn’t work that way. People who make an hourly wage and an annual salary cannot build wealth. This is because their money doesn’t work for them, and instead they work for their money. This idea keeps them from understanding that the only way to build wealth is to invest in multiple sources of income that you don’t have to work for, but instead build yourself or purchase from someone else.

Another misconception of multiple sources of income and passive income is that people assume government and financial institutions offerings such as the stock market, CD’s, and many other financial instruments are passive income. Most of the time however, unless it is a note or bond that pays you regular interest. It is not actually passive income or a stream of income. As a stream of income or passive income is income that you make every day, every month, and every year continuously as cashflow. Stocks and the like only make you money on the sale and never anything in the meantime. Meaning they don’t ever actually cashflow. For example, it is the same as purchasing a piece of fine art and hoping that it appreciates the longer you hold onto it. Which is risky and locks your money up from better uses.

Real Estate as an Investment

Real Estate is the King when it comes to creating wealth for people. No other offering has the traits and abilities like real estate does. It is constantly appreciating and gaining value. It is always in demand because people need a place to live. And most important of all, it is a real asset that isn’t going anywhere soon. Allowing you to borrow against it as collateral and even to write off all expenses and costs associated off on your taxes. Now let’s not wait a moment longer to get into Real Estate as an Investment.

Real Estate You Can Buy as Investments

There is so many ways to invest in real estate and the major differences comes to how much capital you will need to put down to purchase them. This could be as little as $40,000 -$50,000 to buy a condo outright, to only $10,000+ to purchase a $100,000 single family home, or to as much as $20,000-$30,000 to purchase a multifamily home (2-4 units). All of which are Residential and can be easily financed.

Once you get past 4 units, small office buildings, and industrial properties. You’re going into commercial territory and have a lot more hoops to jump through as well as have to start working with commercial lending which can require sizable amounts of capital before they will lend. In the rear, is my personal favorite of mobile homes and parks. Which are hard to sell, but can cashflow in all sorts of amazing ways from lending on the mobiles themselves to charging them for renting the use of the land. All of which is taxed as land which is the cheapest tax rate you can have on property.

· Condos/Flats – Condos and flats are some of the best to buy for cashflow as they give the best cap rates. The only issue comes on the resale as many can be hard to finance as an investment property, preventing a large portion of the population from being able to purchase them.

· Single-Family Homes – Single-family homes are easy to rent, easy to sell, and easy to finance.

· Duplexes/Triplexes/Quads – Small multifamily properties (2-4 units). These property types combine the financing and easy purchasing benefits of a single-family home with the cashflow benefits and less competition found in larger investments.

· Small Apartments – Small apartment buildings are made up of between 5-50 units, they can make great cashflow, but can be very illiquid on the resale.

· Small Commercial Office Space – Buying small commercial buildings and renting out office space to business professionals.

· Industrial Properties- Manufacturing, warehouses, distribution centers, etc.

· Mobile Homes – Inexpensive way to enter the world of real estate investing and can also experience significant cashflow.

· Mobile Home Parks – The entire park in which mobile homes are situated on can also be bought and sold. Rent the individual lots to mobile home owners, and as well as have corporately owned and leased ones.

Strategies in Finding Investment Properties

Just as there are a million ways to skin a cat, there is a million ways to find properties for investment. Of the many ways to find the properties for investment. The most common ways are to find the owner directly and give them a cash offer, to find properties that are owned by a lender or bank that they want to get rid of at a discount, or purchase a lien on the property so you can foreclose on the property yourself.

Lease Options – Buying the property and “renting” it with the legal right to buy it later.

For Sale By Owners (FSBO) – Private owners sell their property themselves with a sign or newspaper advertisement, they may want to sell their properties at a discount to avoid paying a realtor

REO’s – Foreclosed Property owned by banks can be bought under market if the demand isn’t too high

Auction at the Courthouse Steps – During the process of foreclosure, a home is brought to the courthouse steps to be sold to the highest bidder.

Buying in Pre-foreclosure – Sellers on the brink of losing their home can be very motivated to sell their home and save their credit and their lives

Short Sales – A bank will often take less than the loan amount on a property to save from the hassle and costs of foreclosing and reselling.

Tax Liens – When homeowner’s refuse to pay their taxes, the government can foreclose and resell the property.

HUD Foreclosures – When a US government ensured loan is foreclosed on, it often becomes the property of the department of Housing and Urban Development.

VA Foreclosures – Similar to the HUD foreclosures, the US Department of Veteran’s Affairs sells their homes as well after foreclosing on one of their insured properties
Strategies in Buying, Renting, and Selling Properties:

When you finally have the property in your grasp, there are many techniques you can use to maximize your return. Some properties are great for buy n’ holding. Meaning you buy them for cashflow, but are expecting to also make a sizable return on the resale due to appreciation. Next up is Fixing N’ Flip/Hold, which is finding properties undervalue and fixing them up to either hold onto for cashflow or to sell immediately for instant profit. Then there is Turn-key-Investing, this is where you find the property, turn it into a profitable cashflow and sell it as a source of income to a big fish investor. For Big Commercial, there is NNN leasing that entails having the company renting the property takes care of all the trimmings of the property and pays you for leasing the space. Another Buy N’ Hold strategy that can make decent money is to turn your Buy N’ Hold property into a Vacation Rental and charge 3x as much than a normal lease. Then there is hard money lending, where you finance others in their fix n’ flips, buy n’ holds, or primary residence.

Buy-N-Hold – Buy real estate, rent it, and hold it until the market is up and a great buyer comes along

Fix-N-Hold- Buy below market value, remodel to force appreciation, and held until the market improves and sell it

Fix-N-Flip – Buy well below market value, remodel to market prices, and sell it immediately to get your return.

Turn-Key-Investing – fix-and-flipper, but sells remodeled properties to out-of-town individuals seeking a good place to keep their money moving.

NNN Lease – Big Businesses rent the building and pay all costs associated with the building such as maintenance, taxes, insurance, and more. We can own these buildings for highly-passive income.

Vacation Rentals – Buying vacation property and renting it out off and on season (Snowbirds)

Cash Purchase, Sell on Contract – Buy properties and immediately re-sell them to buyers who may not be able to conventionally qualify for a mortgage. Collect a large down payment when using this method.
How to Finance:

Financing is readily available to anyone who has a cash for a down payment. Below is the major ways you can finance your Real Estate Investments.

All Cash – Property with no mortgage attached is very stable and a safe return. May not be as great as when using leverage (like a mortgage)

Seller Financing – Seller owns a property free-and-clear (no mortgage), and can be negotiated with to find a finance deal

Unconventional Lending – There are many lenders who will lend on any deal you have as long as the number make sense, this can be anything from landlord loans, had money, and much more

Self-Directed IRA – If you have a 401(k), throw it out, it’s time to put that money in a self-directed IRA and make that money finally work for you than expecting some money manager who is just trying not to lose your money than make you any. You can use your money in your SD-IRA to do all the strategies in buying, selling, and renting.

20%-25% Down Conventional Investment Mortgage – buy a real estate investment through a bank. Come up with 20-25% down payment and have the bank finance the rest

10% HomePath Investment Mortgage- These loan types are only available on Fannie-Mae backed bank REOs, but can allow an investor to purchase the home for just 10% down payment with other benefits.

Home Equity Line of Credit (HELOC) – With significant equity in real estate, M&T can borrow a line of credit off M&T Real Estate equity.

Small Business Loans – Banks often will finance a line of credit or loan for small businesses- to include a real estate investment company
Conclusion:

If you have the mind for real estate or want to hire someone who does. Then you should forego a large portion of your portfolio to invest in real estate. It easily as one of the highest returns than any other investment in the world, the only caveat, like anything else, is that you need to do it right to be successful.

Lucas Thomas is an Investment Realtor wo helps people invest in real estate to create cashflow and passive income. As a Professional Landlord who owns his own properties and manages others, he enjoys sharing his experiences and expertise to build his client’s wealth beyond their expectations so they can easily retire early and pursue their passions.

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Improve Your Poor Credit Score and Secure Yourself a Loan

So you are thinking of getting some extra money to make some urgent home repairs, the porch door needs replacing, along with a new hot water system. Unfortunately you do not have the money in the bank, but neither do you have a secure porch door or any constant hot water.

Have you considered personal loans? A lot of people take out personal loans for this type of repair. Car repairs and even holidays are used by people with their newly acquired finances. Most people have heard that a poor credit score is not a good thing (However even those that have a poor financial history can still get loans). But how do you make a good rating?

One of thing major pieces of advice from experts, before you apply for finance it is best to get a credit report completed from a reputable source. This will give you an idea of the chance of getting your application approved. In the United States of America there are three levels of credit rating, basically the higher it is the better it is.

An excellent rating is above 760, a good rating would be between 700 and 759 and a poor rating would be between 640 to 699. if you are at the top end, 760 and above then there is no point in making your rating any better. However with other ratings it is worth trying to improve as it will help your chances of succeeding in the application.

There does seem to be a bit of a chicken and egg situation sometimes, you need finance but have a poor score,but to improve you need a lender to give you a chance. Well, luckily there are things that you and your family if you have one, can do to improve your rating.

Having a poor rating does not mean you have to be stuck with it, starting to pay the bills on time instead of late or not at all will start to get you on the right path. Some lenders will still give applicants loans even with a low score, but the total given will be lower than usually and the percentage rate will be considerably higher. So you will pay more over the period of the finance.

Families can help too. If a member of your family has a good rating then some credit card companies can add you to that family members credit card as an authorized user, this will help with any poor credit score. Also having a family member with a good rating co-sign the loan could help you get what you need.

Finding the correct lender for your score is a good way to make sure that you are getting what you deserve, if you have a high score you deserve some of the best deals on the market. Instead of going to your bank or card company you can go online and search for a matching company. Companies like this are a good place go to make sure you achieve the best deal.

What are a matching company and what do they do? You enter your details on their online program and your information will be fed to several of their approved lenders, in turn the lenders will then return to the matching company with a list of loans that they are able to offer.

Once the offers come back it is then up to the applicant to choose one and complete all the necessary paperwork. A check will then be received within a matter of days and your new boiler and door fitted soon after.

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Payment Options for Shopping All the Way

Everyone is busy. Busy in shopping online and in the malls. Popular online portals are breaking and making new sale records! All thanks to the convenience and the availability of easy payment options and funds!

Here are few of the factors that are making online businesses a success

Credit Cards: A credit card is plastic money. It is one of the easiest form in which a person gets a personal loan.

All online portals as well as retailers in malls accept credit cards issued by various banks.
Online payment becomes very simple and safe, thanks to the one time passwords generated for such transactions.
A PIN is sufficient for shopping using a credit card at any retail store.

Personal loans for shopping: When we apply for a personal loan, we don’t have to provide the financier with the details of what we want the loan for.

Thus these days’ personal loans are being used to finance shopping.
They can also be used as wedding loans, vacation loans and educational loans.

Payment Processing: As far as payment processing is concerned, the following factors matter to both the consumer and the online retailer.

Uncomplicated manoeuvring on website: It is important for the payment process to be step-by-step and easy to understand. Most websites work on this section very carefully and thus the online shopping experience is satisfactory.

Processing Costs: Processing costs matter to the retailers. More the processing fees they have to pay to providers of payment gateways like Visa, the lesser are their margins. So to have an effective business the processing costs need to be low.
Number of payment options: Multiple payment options should be available for the customer to make payment. This makes the shopping a convenient proposition.
Time taken to process transactions: Processing time not only tests your patience but sometimes also the strength of your internet connection!

Cash on Delivery: This is also known as “collection on delivery.” This is a very popular mode of making payments for shopping in the developing world.

It enhances impulse purchases.
A credit card is not an essential possession for the buyer.
The buyer can check the quality of the product and then pay

So this festive season, do not hesitate to shop and to gift! The availability of funds for shopping is not difficult anymore. Also the convenience of online shopping has brought various retailers to our doorstep. So let us shop all the way!

An easy way of shopping is using a credit card. It forms an integral part of most people’s financial planning. When used in the right manner, it helps reduce financial liability and optimizes financial resources.

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Are Online Personal Loans Good For People With Bad Credit?

While the rise of online lending in itself makes it more convenient for people to apply for finance, is this development a good thing for those who are already struggling? There are companies out there who charge expensive annual percentage rates (APRs), leaving many people in more trouble than when they first started.

But it doesn’t have to be this way. Over the last few years, online lending has earned itself a bad reputation. The internet leaves many people vulnerable to fraud, so you should always exercise caution when inputting your financial details. The best way to make sure your information remains safe is to find a secure, reliable lending platform.

There is an unfair irony attached to lending today. Those with bad credit are often led to believe they have no financial options if they have made mistakes in the past, often making their situations seem more desperate than they actually are. This can result in people making bad decisions and can lead to borrowing through unstable sources.

Meanwhile, any lenders that do accept you with bad credit will charge extortionate interest rates because of your history, making it more difficult for you to meet your monthly repayment obligations – thus worsening your situation. This is a trap that many people fall into, and it gives online installment lenders a bad name.

However, this doesn’t need to be the case. If you can find yourself a reliable lending platform, you will be connected to a secure network of trustworthy lenders who can offer sensible solutions to your borrowing needs. Many of these lenders will assess your application, even if your credit file isn’t perfect or your income is lower than average.

Instead of (or in some cases, as well as) running credit checks, these lenders will take other factors into consideration, including your income and employment circumstances, and how long you have lived at your current address. They may even ask for references they can contact who will vouch for your character personally.

Even those who receive benefits as a form of income will be able to apply, giving everyone a fair and carefully considered chance of borrowing money. In these cases, applicants won’t be accepted for higher loans than they can afford to pay back, and interest rates will be low, meaning there is a better chance of managing repayments.

If you have poor credit and need to borrow money, consider a personal installment loan, but make sure the APR is advertised between 5.99% and 35.99%. There should also be a number of options in terms of flexible repayment, offering you the chance to pay the money back anywhere between six months and six years, depending on what you can afford to pay per month.

Small, carefully considered personal loans could actually help you build a financial profile making you eligible for better future borrowing. As long as the lender is responsible, and offers reasonable interest rates, online lending platforms can actually give people with more opportunities than many other lenders in terms of improving their situation.

With this in mind, personal loans can be beneficial to those hoping to improve their credit score, but only if some caution is exercised by both parties, and you only apply to borrow an amount you can afford to pay back.

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Five Reasons for Refusal of a Personal Loan

Don’t you wish personal finance were a mandatory course in college? Unfortunately, too many of us learn by mistake. When you need a personal loan and are rejected, you might be baffled as to what went wrong- and how to fix it. Here are some clues.

NO CREDIT

No credit is a situation where you have never used credit and therefore have no credit history for the bank to review. They have no way of making an educated decision on whether or not you will pay back a personal loan based on your credit history. No credit is worse than bad credit. Qualifying for and making regular payments on these types of introductory forms of credit can overcome a “no credit” score:

· Student Loans

· Secured credit card (includes a down payment amount)

· Being added to a parent’s or spouses good credit: card, car loan, etc.

LOW CREDIT

Low credit takes on several forms. If you’re using more than 30% of your allowable debt, it can negatively impact your score. Too many inquiries from shopping around for loans will also hit you hard. Lapses in payment, defaults, or bankruptcies are giant red flags and can take a long time to rebuild from.

Other things that lenders may look at are whether or not you have sizeable assets should you default on the loan. They also check to see if your debts are diversified or if you are only carrying one type of debt.

INCOME

Proof of income is generally required when applying for a personal loan. If you are unemployed or underemployed, it can work against you in the loan approval process. Lenders may also require a work history to see how long you have been with your current employer, and to determine if you typically have job stability. Frequent job loss or change will tell a creditor that your payments may not be reliable.

PURPOSE OF THE LOAN

Believe it or not, your application can be rejected due to your proposed purpose for the loan. Financial institutions have the right to set up the parameters surrounding their disbursements and can accept or reject your application based on what you want to use the money for.

BLACKLISTING

If you’ve defaulted on debt before, your name may be put on a list of whom not to loan to,’ also known as a “Blacklist.” This will follow you around for a long time and is difficult to erase. If you do resolve the debt issues, get documents to prove the resolution.

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How Can A Personal Loan Improve Your Credit Score?

When it comes to a personal loan, you have to first learn to use it responsibly. Because if you miss a repayment, your credit score will be impacted adversely. And remember, that a credit score is an indicator of how well you manage your personal finances. Also, it plays a defining role when you apply for any kind of loan – secured and unsecured. It is suggested to apply for a loan slightly larger than what is needed so that you will be assured to have enough money to pay all bills necessary and still have some money left over to ensure that your bank account stays current.

A credit score can be defined as a number which reflects the financial situation of a person. If the person is well-off when it comes to financial matters, then he or she is said to have a high credit score. On the other hand, if a person is the exact opposite of this, then they possess a low credit score. There are a lot of factors that are considered by financial institutions for the purpose of evaluating a person’s credit score – usually, the credit scores of people vary from 300 to about 850.

A personal loan is a type of loan that is given by digital lenders, banks and credit unions to aid you in your plans, be it starting a small business, or making a big purchase. Personal loans tend to have an interest rate(s) lower than the credit cards; however, they can also be put to use for combining several credit card debts together into one monthly lower-cost payment.

Now, your credit score is built by keeping in mind various parameters from your credit reports. These reports serve the purpose of trailing your history of utilization of the credit across the duration of seven years. These credit reports are comprised of information, including how much credit you have utilized to date, the type of credit in your possession, the age of one’s credit accounts, whether one has put in for bankruptcy or liens filed against them, actions of debt collections taken against them, one’s total open lines of credit as well as recent inquiries for hard credit.

Like any other type of credit, personal loans are very capable of affecting your credit score. This can be done through the process of applying and withdrawing a personal loan. If you are curious as to how personal loans can end up affecting your credit, then read on to find out more about the context. There are many ways in which your credit can be affected by personal loans and some of them are listed below:

The ratio of your debt-to-income and loan

Debt-to-income ratio is considered to be the measure of your amount of income that you spend on the debt repayments. In the case of lenders, the amount of income that you receive is said to be one of the major factors proving that you are able to repay your loan.

Some of the lenders have come up with their own debt-to-income ratio so that their proprietary credit scores may make use of it in the form of a credit consideration. Do not fall into the kind of mindset that possessing a high amount of a loan would hurt your credit. The most damage it can do is raise the ratio of your debt-to-income so that you won’t be able to apply for loans anymore without it getting rejected or denied.

Paying loans on time will make credit scores soar

The moment your loan is approved, you have to make sure that you settle the payments of each month on time and in full. Delay in repayment may significantly impact the state of your credit score. However, on the other hand, if you make the payments on time every month, then your credit score will soar high, leading to an overall good score. This will not only make your name to the preferred borrower’s list, but it will prove to be beneficial for you in the long run.

Since your payment history is comprised of almost 35% of your credit score, paying loans on time is essential in cases like these so that your credit score can maintain a positive status.

Variety is built into your credit type

There are about five factors that are responsible for determining your credit score. These are composed of the payment history, the length of the credit history, the utilization ratio of the credit, the credit mix and new inquiries of the credit in accordance with FICO®.

The credit mix only accounts for about 35% of your total credit score, whereas when it comes to a personal loan you can have a varying mix of the credit types. This mix of all types of credit is viewed at a high level of approval by the creditors and lenders.

Origination fee charged by loans

Most of the lenders end up charging you an origination fee. This fee cannot be avoided at any cost and is instantly taken off from the amount of the loan payment. The amount of origination fees depends upon the amount of the loan you are about to borrow. Late payments can lead to an overdraft of fees and late expenses. Therefore, make sure that you pay complete repayment for each month before the deadline.

Avoiding penalties when it comes to payments

Some of the credit lenders tend to charge an additional fee if you end up paying your part of the loan earlier than the agreed date. This is because they are looking for moderate amounts of interest on your loan. Now, seeing that you have paid off your part of the loan before time, they will miss out on that interest that they could have possibly made if you had not cleared the debt soon enough before the deadline.

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