4
votes
2answers
169 views

Which student loans to pay off first: Stafford or private?

I'm really trying to buckle down and get ride of my student debt. I currently have Stafford and Private loans (I owe more on my private loans). I'm wondering which are best to pay more towards? ...
-2
votes
1answer
76 views

Why does low interest rate prevent bankruptcy and foreclosure?

In recent news, there is a saying like low interest rate prevented bankruptcy and foreclosure. I can't get it. This seems only to apply for variable interest rate loans... How is low interest rate ...
8
votes
1answer
285 views

Is it correct to take interest swap rates as a prediction of future bank rate?

In the context of managing the risk of (non-fixed rate) debt where the interest rate is linked to a bank base rate, I want to understand how/where to get a sense of where a bank's base interest rate ...
10
votes
2answers
1k views

Should I pay off zero interest debt early?

My cash reserves are around $11k, including an emergency fund of about a month and a half, and I budget rigorously. The only debt I have is $7k at zero interest, paid at $300/month, and it's from a ...
12
votes
4answers
912 views

Can someone help me understand my student loans?

I have more loans than these but I am wondering how to handle these three (all with the same bank): 3%, last payment ~$36, current balance $6153, original amount $5500, payoff balance $6170 2.5%, ...
1
vote
2answers
416 views

How to structure a loan for my owner-financed business sale, so we are paid sooner than later?

My wife and I are in the process of selling our business to a buyer. We have agreed on an amount to sell the business for, and to owner-finance the balance. The buyer has already taken over ...
3
votes
4answers
108 views

What are some options for getting loans with lower interest rates

Like many other folks nowadays, I'm trying to lower my debtload, and one of the ways would be to reduce the interest that I'm paying on my debt (currently around 9/10%). I've tried the debt ...
8
votes
2answers
372 views

Can I refinance my student loans?

I have student loans from graduate school with an interest rate of 6.625%. I see that interest rates are quite low. (Mortgage rates are at 4.6% for a 30 yr fixed.) So I am wondering: Is it possible to ...
2
votes
2answers
146 views

How to do Credit Card debt consolidation or get rates lowered?

I have a friend that has five credit cards of debt. A couple of the cards have high interest rates (20-25%). The rest are 15% and below. The total debt combined of all five cards is ~$10k. How ...
5
votes
2answers
71 views

Putting debt out long when interest rates are low?

This is something I heard once from a caller on a financial radio program. What does it mean and what is the logic behind this statement?