Student or Learner
could you please tell me whether the following collocations are correct or whether there are any better alternatives:
drawing on a loan
paid in optional installments (meaning that the debtor determines the amount of each installment and the time of payment)
paid in cash into the hands of/to the attention of (or just paid to sb.???)
Thanks a lot!
One can't draw on a loan, as Ron said. What you can do with a loan - depending on whether you're the creditor or the debtor - is grant/issue/extend a loan, or take out/apply for a loan. Also, if you're the creditor and want it back, you can recall the loan; there' a similar expression with 'debt' - 'call in a debt'. In an extreme, and topical case, a lender might 'foreclose a mortgage'.