July 2nd, 2009 — 02:27 am
Britt’s Mom 03 asked: What happens when you let your car be repossessed, but you don’t have the money for the difference in what they sell it for and what you owe?
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Comment » | Personal Finance
July 1st, 2009 — 07:24 am
dolbabi22 asked: I had bought a car in 2005 and had it voluntarily repossessed in 2006 after a divorce and no job. I heard through the grape-vine that if i didn’t settle the old account that if i bought another vehicle it’s possible they can repossess my new car to settle the debt on my credit at any time. Is this true? Rhode Island, resident.
They as in Creditors! And the car i’m buying will be paid for no more loans. I will be paying taxes on it evey year but that’s it.
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Comment » | Buying Selling
June 30th, 2009 — 09:57 pm
Makanre asked: We just discussed in class that each household would have to pay $549,000 to get out of debt. I know the number is very high but does anyone know the actual amount in debt we are?
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Comment » | Government
June 30th, 2009 — 06:24 am
Many of us enjoy nothing better than a shopping trip when we’ve been paid. It’s a reward of sorts! A pat on the back for surviving the month slaving away under the employ of the boss from Hell! Every month or every week off to the High Street we go bargain hunting to the extreme! Some of us can’t afford to spend as much as we do but it doesn’t stop us! In fact, according to the article “Know the value of your designer wardrobe?” few of us are actually put off clothes shopping spending by lack of money and being within the clutches of every shopper’s evil assailant, the credit crunch!
If we are still spending then we are still acquiring so it would make absolute sense to add our new purchases to our home contents values. The reality is that unfortunately few of us actually add our latest designer accessories to our home contents values providing our insurance companies with inaccurate representations of our belongings. Our insurance companies have noticed and urge us to immediately open up those wardrobes of acquisitions new and old, designer and non-designer clothes and put them in the picture. Or we can put it off till next weekend’s assault on the shopping precincts!
Comment » | Insurance
June 29th, 2009 — 04:25 am
Mike D! asked: I will probably need to replace my car soon, but I don’t know that I want a traditional car loan because it would require having more insurance, and thus be rather expensive for me. (It’d be about double for me, as I don’t have a spotless driving record). I was wondering if instead I could get a personal loan from the bank, say in the neighborhood of $3-5K and use that for a car thus saving me a bunch of money by not needing collision coverage if I could pay for the car in cash.
Now the questions … is this possible, or is there usually some stipulation that you can’t use a personal loan for a car? What sort of collateral do you usually need for a personal loan? If you have good credit, can you get one w/out collateral? Any info would be greatly appreciated! Thanks!
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3 comments » | Personal Finance
June 28th, 2009 — 03:27 pm
Ranger asked: I’ve heard several candidates claim that by spending too much we go bankrupt? how is a nation with our economic status exactly go bankrupt ?
I’ve never taken an economics course so this idea of a nation going bankrupt is very confusing to me.
Yeah but don’t we always spend more than we have, and just have the fed print the rest of the cash needed or borrow it from another nation ?
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2 comments » | Economics
June 27th, 2009 — 06:07 pm
Oliver North Cocaine Smuggler asked: Well, reagan/bush sr quadrupled the debt from 1 to 4 trillion. Bush jr doubled the debt from 5.7 trillion to 10.7 trillion in 8 years.
Do you get sick of hearing these idiots complain about obama spending 787 billion and saying it will lead to massive hyperinflation?
It is pointless to reason with these people.
Good night.
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1 comment » | Politics
June 27th, 2009 — 12:39 pm
advait0 asked: The U.S. Federal Government is in major extreme almost unsolvable debt, State governments sometimes go broke resulting in a shut down of services. So what happens when a state government goes bankrupt for a long period of time, say 6 months to a year? What if the Fed can’t give grants, and loans to keep state services open?
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1 comment » | Government
June 27th, 2009 — 06:18 am
skye_12299 asked: I live in the state of Ohio and I am trying to figure out if the personal loan I signed for through a financial institution is considered written contract, written account, or promissory. I made monthly installment payments.
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2 comments » | Credit
June 26th, 2009 — 06:25 am
2 comments » | Politics
