All Questions
41
questions
0
votes
1
answer
204
views
When should I reduce my student loan payments in order to save up for a down payment on another loan?
I'm currently paying off a little over $13,500 of student loans, at a rate of $300 a month and accrues approximately $60 of interest each month. My bi-weekly take-home salary is approximately $1,350 (...
- 4,374
2
votes
3
answers
5k
views
Amortization Payments with a delay in initial payments
Typically a loan is disbursed and a month later is when payments are to be made. But there can be an agreement where it's to be delayed for a year or as short or as long as they want.
I'm wondering ...
- 389
0
votes
1
answer
216
views
Could you save money by not paying your student loans
I read an article that discusses a woman refusing to pay her student loans.
In the end, she claims she saves money because she defaults on her loans, thus her loans grow without interest, and her ...
- 265
4
votes
3
answers
9k
views
How do I calculate interest on a personal loan with irregular withdrawals and payments?
Several years ago, I loaned money to a family member. They borrowed different amounts at irregular intervals. They are now beginning to repay, so I want to establish exactly how much they owe. I have ...
- 16k
1
vote
2
answers
1k
views
I have a loan with a 6.5% interest rate. Should I divert money into my 401(k) instead of prepaying?
I have a loan with a fixed 6.5% interest rate, with an absurdly low minimum payment, so I have been paying extra each month (about enough so that the loan will have a 10-year repayment lifetime ...
- 1,299
2
votes
2
answers
421
views
Choosing the duration of a loan, how the monthly payments evolve in function of the loan term?
I would like to visually discover how the monthly repayments of a given loan (for a given amount ; taking about a fixed rate loan) evolve in function of the total duration of the loan. I assume it is ...
user1052753
8
votes
4
answers
455
views
Is there any circumstance in which it is necessary to mark extra payments on a loan as going to "principal and not interest"?
I've heard for years - and not believed - that it was necessary to mark extra payments, clearly targeted towards a particular loan, as "apply to principal" or any other such magic wording in order to ...
- 1,647
15
votes
5
answers
3k
views
What do you do when a family member won't pay you back?
What do you do when a family member won't pay you back?
user454
23
votes
3
answers
4k
views
Paying off student loans early/lump sum -- best practices?
My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest.
We're both earning ...
- 233
7
votes
1
answer
511
views
What happens when you make extra payments but don't specify principal reduction?
Lets say your loan payment is $100 a month.
What is the differences between:
making a regular payment for $120
making a regular payment for $100 plus an additional principal reduction payment for $...
- 277
8
votes
2
answers
868
views
Paying off loans early, or is there some way to reduce extortionate interest charges?
I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking.
Over the 5 year period I'm paying over £18k in total, thats £...
- 2,034