All Questions
41
questions
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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