All Questions
41
questions
0
votes
0
answers
78
views
Are all my sources of income considered when calculating the repayment of my student loan?
Actually, I have two questions.
I have a student loan income-based repayment, from my studies in the UK. Are any other income sources rather than my salary considered?. For example, a rent I get from ...
- 1
2
votes
2
answers
290
views
What is the cheapest way to pay off this loan?
I recently took out a loan in order to buy a car for work.
The contract is over a five year term, with a total of 60 monthly repayments, at an interest rate of 13% pa.
The way the lender wants me to ...
- 123
1
vote
3
answers
425
views
What's the interest rate in this example of irregular payments?
Loaned out $10K, with the following payments (like, these are all the payments there will ever be)
Period 1 2 3 4 5 6
$0 $0 $0 $0 $26K $4K
How would I ...
- 161
3
votes
6
answers
600
views
Where should my money go first?
I have $7000 in cash. What should I pay toward first?
Car Loan $17,000 @ 3.4% $532 a month payment
Credit Card $3000 @ 0% interest till March 2019
Credit Card $3800 @ 0% interest till Nov 2019
Credit ...
- 39
2
votes
2
answers
517
views
How long do I have to pay back a 401(k) loan?
I have a loan taken out on my 401k through Fidelity. The loan originated on this date: 12/19/2017. I will be leaving my current workplace and moving to a new workplace that uses John Hancock 401k.
...
- 67
2
votes
1
answer
95
views
Pay off loan with MESP 529?
I made a bad decision and took a 401k loan last year. I question whether I could pay off the loan with a 529 account I have through Michigan education savings plan. I would not be pulling any money ...
- 67
2
votes
3
answers
320
views
Lump sum vs interest free loan
I'm considering buying a service which will cost around £6000 (which I consider to be a significant amount). There is a financing option available which allows the amount to be paid off over 24 months,...
- 23
1
vote
1
answer
201
views
Is it a good idea to make a lump-sum payment to pay off a personal loan, even if I want to build credit history?
I have recently received some money that I could use to repay my personal loan, however I am not sure if doing that, is a better idea than continuing paying the loan normally, with instalments taken ...
- 187
2
votes
2
answers
563
views
Partially vs. Fully Amortized Loan
Isn't the article beneath wrong to interpret a Fully Amortized Loan as a loan with 7 years maturity? Isn't the correct comparator a Fully Amortized Loan with 30 years maturity, and 30 years ...
user102055
2
votes
1
answer
448
views
How does Sallie Mae calculate its payment?
Short Version
Can anyone figure out how Sallie Mae comes up with its personal loan payment amount?
Long Version
I have a friend who took out a personal loan with Sallie Mae, and their payment ...
- 123
2
votes
1
answer
863
views
What is nelnet doing with my auto-debit student loan payments?
I recently (A few months ago) bumped up my loan repayment. My repayment just started this year.
So, I took a look at how nelnet is allocating my auto debit, and my payment history looks like this:
...
24
votes
5
answers
5k
views
Options for paying for a nonreturnable leased vehicle
Late last year, my girlfriend's car was stolen and subsequently destroyed. This car was a leased vehicle. For reasons beyond her control‡, the insurance had lapsed a few months prior. The ...
- 341
6
votes
2
answers
2k
views
Is there any loan forgiveness or help for a large Federal parent student loan?
If a parent has a federal student loan for her child's education of over 100 thousand dollars, and she is having trouble paying off, is there any sort of forgiveness, or help?
- 61
2
votes
3
answers
1k
views
Does early repayment affect the credit score?
If I take the personal loan, start making payments regularly and then decide to completely repay it - what will happen to my credit rating?
Would it improve, decrease or not be affected?
user63058
4
votes
1
answer
253
views
Student loan repayment question (UK)
I have significant student loan debt.
I am on plan 2 repayment and just received my first payslip.
I earn £22k and so by their rules I need to pay back 9% of my annual salary over £21k that being in ...
- 41
-1
votes
2
answers
1k
views
How come more interest than principal is paid at the start of repayment? [duplicate]
How come more interest than principal is paid at the start of home loan repayment? What's the rationale?
- 115
1
vote
1
answer
76
views
Are there any regulations regards end of loan payment procedures?
When I was a student, one of my student loans was a Federal Perkins Loan. I was done paying the loan fully about 5 months ago. Since then I called couple times to the university asking about it, and ...
- 742
2
votes
1
answer
647
views
Term loan overpayment options: applied to principal, or...?
Twice in my life now (as of yesterday) I've found myself in a very confusion situation after having made higher-than-scheduled payments on a term loan for an extended period of time.
The first time, ...
- 390
3
votes
1
answer
533
views
Student Loans: Income-based repayment & income tax bomb
Situation: I have a pretty sizable student loan burden ($150,000 with 6% interest), where I can't afford the regular payments (about $2000/month) with my current salary ($60,000) at job I'm starting ...
- 31
3
votes
1
answer
10k
views
Paying off loan early: Apply overpayment toward balance vs advance payment due date?
I want to pay off half of my high interest student loan with a lump sum.
I have 2 options when applying the payment: to apply the amount to my balance or to advance the due date (i.e. to apply ...
- 123
3
votes
2
answers
1k
views
Tackling an obscene amount of student loans
So, in my journey to get to where I am today, I spent a good 7 years getting a Master's degree. This, of course, led me down the path of student loans.
Currently I sit at just over 100k in student ...
- 1,594
2
votes
2
answers
12k
views
Repayment of loan I made to my own LLC
I loaned $60,000 to my own single owner LLC over the past 6 moths to pay for start up, salaries, rent and business expenses to get it started.
It is now moving towards profit and can afford to start ...
- 31
0
votes
2
answers
140
views
Calculate money owed on shared loan
I am in an interesting situation that I am looking for help with.
I went to college a number of years ago, as did my brother. My mother had two student loans (one for each of us) and a few years ago,...
3
votes
1
answer
109
views
Fixing Credit With Several Small Debts
I am a recent graduate from the U.S. with a checkered credit history. I have a few items in collection now totaling about $750 or so. Previously, my attitude would have been to let these slide until ...
- 153
1
vote
1
answer
156
views
Ask rebate in loan repayment
The interest rate made my loan to a very large amount from the one which i borrowed since I could not pay it for some time(I missed some EMI).
Now I have money to pay it full, Can I ask bank to allow ...
- 11
0
votes
1
answer
60
views
How do investments on projects work
I am a newbie with loans and investments. I really want to know the difference between loans and investments on a project. I have a solar project for which I am looking for investments. I heard that ...
- 39
3
votes
3
answers
505
views
Can anyone help me understand my loan payment?
My loan was $40500 for five years with 9% interest per year. I do not understand the total I would have to pay. I have been paying 700 per month since 2006 and it feels like I've been paying forever. ...
- 31
4
votes
1
answer
2k
views
Is the repayment of monies loaned to my company considered income?
I have been working diligently for years to get my business off the ground. I have been funding its monthly operation via my personal funds, each month lending the company (an LLC) just enough to pay ...
- 41
0
votes
1
answer
3k
views
Are 401K loan repayments considered tax deductible?
I took out a 401k loan 1.5 years back for a home down payment. The loan had a 36 month term, and I was making payments thro' payroll deductions from my employer. I recently quit that job, and I am ...
- 1
26
votes
8
answers
11k
views
To pay off a student loan, should I save up a lump sum payoff payment or pay extra each month?
I am a new college graduate with a student loan of $17k at 6.8% interest. The monthly minimum payment due is $193. I have been paying the minimum amount, and then taking that same amount and placing ...
- 363