This tag is a generic tag to be used when asking a question on Loans / lending. If there is a specific question the other related tags like home-loan, student-loans, etc should be used.

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1
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1answer
225 views

Seasonal Loan Amortization

Hi I can compute a Basic Loan Amortization Schedule, But now I'm trying to Calculate a Seasonal Loan Amortization Schedule . So for example A loan starts at January And Will go on for 3 years, with ...
25
votes
8answers
1k views

Optimal way to use a credit card to build better credit?

I have a credit card with a $700 limit and I am curious how to optimize credit gain with it. Right now, I use it once a month (usually on something small like a drink from a convenience store or ...
15
votes
2answers
2k 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 ...
19
votes
9answers
2k views

What is the difference between “good debt” vs. “bad debt”?

This other question about home renovations makes reference to the concept of "good debt." Could somebody explain the concepts of good debt vs. bad debt, providing examples of each? Are there cases ...
10
votes
3answers
318 views

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?
5
votes
4answers
953 views

Will paying off my car early hinder my ability to build credit?

I don't have much credit because I am young but I did recently purchase a car which I am paying 9% on. This seems ridiculously high to me and I was thinking about pulling out some of my stocks to pay ...
2
votes
2answers
3k views

How can I pay off tuition fees from a past semester so that I can enrol in school again?

I still owe my tuition fees for a university of California school from fall 2010. I have been out of school since then with two semesters to go before I can graduate. I've been trying to take out a ...
0
votes
1answer
64 views

Days in the month affecting loans?

Do the days in the month play a role when the interest rate is compounded Semi-Annually? An example given to me Interest rate of 8.5 compounded Semi-Annually, fixed Blended payment of principal ...
0
votes
4answers
449 views

Using Loan to Invest - Paying Monthly Installments with Monthly Income

I'd like to ask about a different payment method to this question. I use THEAO's first-rate answer there. How much profit or rate of return is required from a financial instrument, say stocks, to ...
11
votes
4answers
9k views

Will our hefty student loans affect our chances of getting a mortgage?

My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses below what we make, ...
10
votes
1answer
394 views

Are student loans tax deductible in US?

If I have a student loan from finishing my graduate degree, can I deduct its interest payments from salary for tax purposes? Is there any education related tax credit that can be applied for payments ...
9
votes
3answers
2k views

First time home hunters. Pay debt or save for down payment

tl;dr We want to buy a house. We've done all the pro's and con's of home ownership. We have 1/2 a down payment and some highish loan payments Would it be wiser to pay down the loans and go ...
11
votes
7answers
4k views

Saving $1,000+ per month…what should I do with it?

I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure ...
2
votes
4answers
197 views

60-Day “Borrowing” From an IRA

In brief, I am projecting out a budget for a personal construction project I am having done, and the numbers are very tight. I have some buffer built in, but if I exceed the buffer amount and my cash ...
2
votes
2answers
185 views

What is the best way for me to invest my money into my own startup?

I've started a company with a friend, and we're looking to find out how to transfer some of our money into the company. Several sources suggest that, since we're the only owners so far and there's no ...
10
votes
4answers
2k views

What should I do with my credit card debt?

I have almost $20,000 in credit card debt and, though I have stopped accumulating it for quite a while now, I'm trying to figure out the best way forward. Can someone please offer advice based on this ...
9
votes
6answers
387 views

Is it okay to be married, 30 years old and have no retirement?

I am a 31 year old attorney with a 10 month old baby. I make $130K a year. My husband is also an attorney, and makes approx. $60K a year. WE both do not have any retirement savings or college ...
8
votes
4answers
735 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?
7
votes
2answers
499 views

I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan?

I am under 18, currently shopping for a car. Like many people, I don't have enough money sitting in my bank account to purchase a good car, around $6,000 to $10,000. However, credit checks have ...
6
votes
2answers
3k views

I plan on receiving a $200,000 personal loan via wire transfer. Do I have to report this to the IRS?

After researching online, I found many websites that said wire transfers are not reported to the IRS, but others said that they were reported. I just want to make sure that I do not have to pay taxes ...
5
votes
3answers
7k views

How to deal with my job change & 401k loan that I can't fully pay back?

It's been 60 days since I changed my job and I have an outstanding 401(k) loan of $30K(+30k non loan amount). I have only $20K to pay and my 401k plan won't accept the partial amount. I still didn't ...
4
votes
3answers
300 views

Using Loan to Invest - Paying Monthly Installments by Selling Originally Bought Shares

I'm trying to determine how much profit or rate of return is required from a financial instrument, say stocks, to break even with a loan taken out for this. I'll use specific numbers to simplify. ...
4
votes
6answers
13k views

Where can I get a car loan for roughly $2000?

I'm looking to buy a new car and have found one that I really like. It is priced at $4500 (with taxes). I currently have $2700 in my savings account. I would like to get a loan for $2000 (leaving me ...
3
votes
2answers
243 views

What are the laws or rules on 401(k) loans and switching providers?

So here's the situation. My employer is switching 401(k) providers. I believe they outsource payroll and employee benefits to Benefits Company A. They want to switch to Benefits Company B. I ...
3
votes
3answers
4k views

Will paying off a loan early hurt my credit?

I recently purchased a vehicle and took out an Auto loan from the local credit union. I have run into some extra cash and can actually pay off the car completely. I have a very little credit ...
2
votes
3answers
209 views

Interest rate question

I'm having a little trouble figuring this out. Suppose I took out a loan with the following terms: Loan Amount: 1,000 Interest Rate (APR): 10% Compound Frequency: Monthly (12 compounding periods) ...
1
vote
3answers
136 views

Amortization Payments with a delay in initial payments

Typically a loan is disbursed and a month later is when payments are to be made. But there can be an agreement where it's to be delayed for a year or as short or as long as they want. I'm wondering ...
1
vote
2answers
219 views

How do you declare an interest free loan?

In the discussion around this question about gift tax it was said that a loan must be at market rate, or it is not considered a loan. Respecting the wisdom of the people who said that, I'm unclear ...
1
vote
2answers
49 views

Loan Amortization with Insurance

I'm wondering how does you calculate payment amount of the loan amortization schedule if insurance is involved. "Desjardins" insurance on loan is such that for every $1000 outstanding balance, you get ...
0
votes
2answers
160 views

Complete Opposite Calculations and Opinions - Using Loan to Invest - Paying Monthly Installments with Monthly Income

I managed to discuss Using Loan to Invest - Paying Monthly Installments with Monthly Income with a friend and his answer underneath is completely opposite from the current answers. Please understand ...
-1
votes
1answer
179 views

Credit Card: Charge from the bank

Let's say I have a debt of $50. Let's say I don't pay for my credit card debts. Next month they will charge me interest upon the money I should have paid ($50 + interest). Now let's say I pay more ...