August 30th, 2009 — 10:53 pm
Honda asked: If major banks go bankrupt then what will happen to their debt? In other words, if a person owns couple thousands of dollars in credit card debts and the banks go under, is there still obligation to pay the debt?
(This is theoretically question)
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2 comments » | Personal Finance
August 29th, 2009 — 02:20 am
Aimee M asked: I am 18, just getting prepared to go to college, and I have no credit whatsoever. I don’t need student loans because my dad pays for my school. However, my boyfriend and I live together and we just bought $1500 worth of furniture from his brother. Now, we were supposed to stick to a payment plan since we don’t have a huge income, but they want the money now. My boyfriend is just going through bankruptcy so he cannot get a loan of any sort. How can I go about getting a personal loan to pay them off? We are both employed so I am not worried about paying it off, I am clueless as to how to even get the loan if I can. Any and all help would be appreciated. Thanks!
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5 comments » | Personal Finance
August 28th, 2009 — 08:08 am
blueunicornapopka asked: Most of my debt consists of medical bill leftovers (the amount after insurance) that has gone to collection. I have not seen anything that deals with those types of bad credit. They say medical is not supposed to affect your credit but it does.
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10 comments » | Personal Finance
August 27th, 2009 — 08:44 am
wittygee asked: I have been out of work for a while and became unable to pay on a credit card debt. It has been about 90 days since my last payment and I just got a letter from a law firm stating they will be pursuing collecting the debt. I am still out of work and have no means to pay. What can I expect from this process?
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5 comments » | Credit
August 25th, 2009 — 04:57 am
oznerol62481 asked: I have had my car loan for about a year now, and have never missed a payment. My co-signer declared bankruptcy about six months ago, but my finance company told me as long as I continued to make the payments they would contact me about removing the co-signer/refinancing to make me sole borrower. They never contacted me, but I continued to make the regular payments by check (which they cashed each month) but now the company is telling me I am three months behind and they are going to repossess. I had no prior correspondence (either written or verbal) about non-payment or even late payment until about a week ago when they started threatening repo. I am already requesting the cancelled checks from my bank to show proof of payment, but is there anything else that can be done? I am just so frustrated that I have done nothing wrong (i.e. I have been faithfully paying for my vehicle on time and the full payments) for over a year and am now facing this. Help!
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5 comments » | Personal Finance
August 24th, 2009 — 09:36 pm
Jan R asked: I loaned a friend some money several years ago to help start a business, and the business failed and I was not repaid for the loan. I also, the same year, had losses from other investments (in the stock market). My understanding is that I can only deduct $3000 in investment losses for that year. Is the personal loan in the same category as the other investments — in other words, does it count as part of the $3000 limit? Or is there a way I can claim that loss separately? Thanks!
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1 comment » | United States
August 23rd, 2009 — 10:33 pm
shell asked: We carried the loan on a business we sold. We are in the process of taking the business back due to non payment for 6 months. We are doing a bulk sale transfer. Do you think we should have to pay sales tax again? No money is exchanging, it is a repossession.
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1 comment » | Other - Taxes
August 23rd, 2009 — 10:37 am
MLE asked: I had a federal student loan which I consolidated about 8 years ago to someone who eventually sold that loan to Citibank. I pay about 8.35% in interest. I am considering paying off that student loan with a personal loan where I can get a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?
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1 comment » | United States
August 20th, 2009 — 12:18 pm
gabyrig asked: If you get a conventional mortgage, your interest is tax deductible. If I take out a personal loan to buy my primary residence, can I deduct interest from that personal loan when I file my taxes?
Thanks.
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1 comment » | United States
August 19th, 2009 — 08:36 am
Going to university is so exciting! All those new experiences, new faces and new places will make the next three years a memorable time for all! However being away from home for the first time can be something of a testing time. No longer will you be cocooned from the rest of the world, with university you will learn responsibility!
According to the article “ Students – get money savvie or else!” university students will have a lot on their plates over the next few years so getting in all the preparation now can’t hurt too much!
The student loan is sadly not a bottom-less pit! If you have to eat out every day because you don’t know how to cook, this money will disappear faster than Usain Bolt down the 100 metres track! The best the new student can do is to spend a bit of time in the summer holidays learning how to cook a simple dish or two. Just a couple of dishes should do the trick, why not have a go at an omelette, a pasta dish and a chilli for starters. Tell mum to hand over her apron for an evening and cook the dinner while you watch your confidence grow saving money right from the start!
Comment » | Insurance
