Tagged Questions

6
votes
1answer
116 views

What is a rule of thumb for accruing debt on a rental property?

My sister and I were fortunate enough to inherit 2 properties from my father, one a suite of apartments and cottages worth about ~$3M and also his home. We currently have about $200K in mortgage ...
2
votes
1answer
101 views

How long does it take to have no credit history?

In considering my 5-10-20 year goals recently, one of them is to not use debt - whether credit card, mortgage, car loan, etc - even on a monthly basis. I currently am young, single, and have no debt ...
6
votes
2answers
125 views

Credit Consolidation, Credit Settlement

I've done a little research but I would like to have actual feed back from people. I am currently behind on credit card payments and I am not sure exactly what to do. The interest rate is high and I ...
6
votes
3answers
212 views

How to get started with savings, paying off debt, and retirement?

I am getting married soon and I am in grad school (I get paid a stipend and have a tuition scholarship). I have no retirement plans available to me. My fiancee will be starting her job soon and will ...
6
votes
4answers
673 views

Collections for Medical Bill - Pay Settlement or Full Amount?

I live in California, and I had an ER visit in November 2010. I originally owed ~$800. I've been contacted by a collection agency, and offered a settlement of ~$400 I have verified with the original ...
4
votes
4answers
442 views

“Pay to Delete” letter for removing an entry from my credit report. Legit?

I am negotiating with a collection agency over payment of around $2500. Talking on the phone with them, it seems that I can't get an unequivocal "yes" to delete their entry from my credit report on ...
13
votes
7answers
502 views

Pay off credit card debt or earn employer 401k match?

Should a person with high credit card debt pay it off before contributing to a 401k with matching?
3
votes
1answer
212 views

Can I borrow against my IRA to pay off debt or pay for a car?

I am going to need a new car soon and I was curious if I can borrow against my IRA to pay for the majority of the car so I don't have to finance much. Also, can I borrow against my IRA to pay off ...
11
votes
2answers
1k views

Does the United States really owe 114 trillion dollars? Please explain “unfunded liability”?

I would like to refer to the site USdebt.Kleptocracy.us (A visualization of United States debt) I'm just a little bit curious as to what these figures mean. I understand the 1 trillion dollar ...
6
votes
2answers
175 views

How could the 14th amendment relate to the US gov't debt ceiling crisis?

I saw a reference to the 14th amendment in the news today. What could that have to do with the US debt ceiling crisis? Could somebody explain please.
4
votes
3answers
242 views

How could USA defaulting on its public debt influence the stock/bond market?

Ok, let's face it... US public debt is high and people are starting to wonder if the country might default on its debts. How would this hit United States' stock market, its bonds, or its currency? ...
12
votes
4answers
2k views

Can it really hurt your credit to pay off things in collections?

I have 4 items in collections according to my credit reports - 2 medical bills totaling $1700, and unpaid traffic ticket for $200, and an old utility bill for $185. I have one credit card that I've ...
3
votes
3answers
105 views

How to handle old 401(k) I have, with respect to refinancing some of my debts?

I have recently been shopping around to see if I could get my home refinanced. I purchased in Oct 2007 for $200,000 - 30 year fixed at 5.99% I called my lender, and they were willing to refinance @ 4 ...
11
votes
2answers
973 views

The U.S. National Debt: What is it, where did it come from, and how does it work?

I am not from USA. I read few articles about the US National debt but still can't get the sense of it. Could you explain it in simple words? I know that it is huge. I can't understand following ...
9
votes
3answers
1k views

Why can't a US state default, but a EU state can?

I'm new here so I'm not sure if this type of question is appropriate on this site. I live in the EU (Italy) and I'm quite concerned (probably not the only one now in EU) about the possibility of some ...
4
votes
2answers
101 views

What debts are both partners liable for in a 'community property' state?

I've just come across this article over on the mintlife blog and noticed that I do live in one of the ten community property states. I'm not overly familiar with this particular concept (keep in mind ...