Questions tagged [debt]
The debt tag refers to all situations where money is owed to another party, often a bank or other financial institutions. This tag covers how to get out of debt, how much debt to carry, and other borrowing related questions.
419
questions
3
votes
2answers
132 views
S/O out of collections, where to go from here?
My S/O and I have been together for ten years (not married). We started attacking all of our debts starting October 2018 in order to move into a house debt-free (except a mortgage) in 2021.
My last ...
1
vote
0answers
24 views
Understanding overnight debt fund portfolios
I'm trying to understand the differences between overnight funds and a bank savings account
or fixed deposit in terms of safety. These are both common ways to park money for short
periods.
I know ...
0
votes
0answers
35 views
Mutual Funds Investment advice needed for beginner
I am planning to start investing in mutual funds now. I am a beginner and young(28). I plan on doing investments as a lump sum and SIP. I plan to invest 5 lakhs via lump sum now and SIP of 20k per ...
0
votes
1answer
54 views
How to define the state of “in debt”? [duplicate]
So I was reading on Forbes and it said a 2017 survey showed that
28% of workers making $50,000-$99,999 usually or always live paycheck to paycheck, and 70% are in debt.
I wonder what kind of ...
0
votes
3answers
188 views
Fastest way to pay off debt
What is the best order to pay off debt? Only debt being home loan.
For example, my home loan has interest rate of 3.5% and the stock market (some total market fund, e.g., FZROX, VTSMX), ideally, goes ...
0
votes
3answers
200 views
Downside of having a zero-interest loan for long time
I am able to get a zero interest loan (APR 0%) of €10k for my small business and I have to decide the debt repayment period (12-60 months).
Mathematically, because interest rate is zero I should ...
3
votes
0answers
93 views
When do UK creditors pursue a debt after the debtor has died?
According to StepChange, creditors don't normally pursue a debt of someone who died if there isn't a large estate:
Most unsecured creditors will normally write off a debt (like a personal loan or ...
-1
votes
1answer
68 views
What kind of debt is an unpaid tution bill?
If someone doesn't pay their tuition to a university, is that considered student loan debt, consumer debt, or something else? I mean for the purposes of debt forgiveness (e.g. i think consumer debt ...
-3
votes
1answer
124 views
How likely is a total economic collapse due to the potential coronavirus impact? [closed]
Most signs show that lockdown could easily stretch through the summer. A freeze in consumer spending would cause multiple industries to fail causing a ripple effect.
To be specific, if lockdown lasts ...
15
votes
6answers
7k views
How, or should I repay debt during Covid-19 crisis?
During Covid19 pandemic I managed to save some money and I was thinking about repaying some of my debts, however, I'm not sure should I do it, or keep cash just in case things turn for the worse. This ...
2
votes
0answers
22 views
Where are business obligations, like a property lease, on the debt seniority ladder?
Consider the perspective of a REIT. If one of the REITs tenants files for bankruptcy, does the REIT get paid first to satisfy the terms of the lease or do the tenant's bond holders get paid first?
I'...
0
votes
0answers
53 views
Loan for outstanding school balance
I have a an outstanding school balance of around $7,000 dollars from the 2015-2016 school year and need it to be payed off in order to transfer to another 4 year university. I wanted to know if there ...
1
vote
1answer
148 views
Is there any disadvantages of paying off mortgage? [duplicate]
Usually when we think about paying off mortgage it always seems a good idea as this is one of the biggest debt for most people. I was curious if there are any disadvantages of paying off mortgage ...
13
votes
5answers
10k views
Pay off Credit Card Debt now or later
I recently paid a non-refundable housing deposit of $1,300 for summer intern housing. The company I am going to work at this summer has outlined in my contract that I will receive $2,500 to cover ...
3
votes
6answers
447 views
Overpay student loan or mortgage first?
I am aged 23 and make £48000 a year. I have 2 sources of debt at the moment, my student loan and a mortgage I have just entered.
Student Loan Details:
Amount: £42775.54
Interest Rate: 5.4%
Monthly ...
-2
votes
1answer
312 views
Im 19 years old and is buying a $45k car with it? [duplicate]
Im 19 years old and share rent with someone. I make $2,320 a month before tax. My rent is $750 a month and i don't pay for anything else. Would it be a good idea or will i go into crippling debt if i ...
6
votes
1answer
489 views
Upside down on car loan, sell and refinance gap?
In order to cut down our monthly expenses we are looking to sell our car. We still owe $12,000, kelley blue book says its worth around $10,000 and we don't have $2000 lying around to cover the gap.
...
1
vote
1answer
44 views
Is a foreign equity holder liable for business debt?
I'm an Indian citizen residing in India. If I get 20% equity in a US company, am I responsible for the company's debts (current and future debts)?
Note that this is a sweat equity (no money invested)....
-1
votes
4answers
700 views
Sugar Daddy/Bank Help [duplicate]
I met this guy on Twitter who was interested in a sugar baby with someone to speak with, get to know, etc. He lives in IL apparently and I’m in the east coast. Initially he wanted me to buy a $200 GC ...
1
vote
1answer
142 views
Cannot pay enough to mitigate late/overdue fees on credit card. What is the best way to handle this?
I've tried working with a credit card company over late fees/debt. I can of course make some payments, but they're always lower than the overdue fees they continuously charge. In other words I'm ...
-1
votes
3answers
394 views
If I really did owe the bank a billion dollars, what would happen? [closed]
There's a saying that goes like "If you owe the bank $100 dollars, that's your problem; if you owe the bank $100 million, that's the bank's problem."
Let's adjust for inflation and say that I owe the ...
1
vote
3answers
138 views
On a statement of Dalio and the case for gold
Last night I was watching the following videos https://www.youtube.com/watch?v=YVLJRGA5uAk and https://www.youtube.com/watch?v=AhDrvQiNV5M&t
I am considering the bet on gold with respect to his ...
5
votes
3answers
408 views
Employer will refund me the cost of college, should I risk going further into debt?
I’m currently working towards paying off my debt. It’s something I despise. I had some emergency hospital bills come in this year. That and I have two new cars that I bought and they have turned out ...
1
vote
3answers
204 views
What is a reasonable percent of income used to pay interest on consumer debt?
I was looking at a breakdown of the Ontario government debt and 11% of tax dollars go to pay interest. I am interested to compare with personal finances, would 11% of annual income as interest be ...
19
votes
11answers
13k views
Urgently need pre-paid debit card to pay debt collector
I owe a sum of a few thousand dollars to a debt collector. I've already gone through the steps of getting a confirmation of the debt and it is a debt I know I'm accountable for. I need to pay this ...
4
votes
3answers
410 views
Why do companies use debt to finance business deals instead of cut the dividend?
Some time ago Altria bought a 35% stake in Juul, using $12.8 billion in cash.
However if one looks at Altria's financial reports, it's clear that this is money Altria didn't have. The company didn't ...
0
votes
1answer
110 views
What does it mean when central banks buy bonds (QE)? [closed]
If I lend money to the government, they issue me a bond with the agreement that they will pay me interest and when the bond matures they will give me back the money I have invested.
When central ...
0
votes
1answer
75 views
Would deflation further stress the Federal Government's Balance Sheet? Would this put in peril Debt payments and Social Security benefits?
I would like to know if deflation would represent a risk to Debt (bond) payments and Social Security benefits.
To my understanding, Social Security is only indexed when there is positive inflation. ...
7
votes
8answers
5k views
Would the minimum payment or full CC amount be considered monthly debt?
Based on Is rent considered a debt?
The question of:
What is your total monthly debt payment (e.g. student loans, vehicles, credit cards, personal loans, etc.)?
got me thinking.
If you rack up $...
20
votes
7answers
11k views
Charges from Dollar General have never shown up on my debit card. How can I resolve this?
During the summer of 2016 I lived by a Dollar General and went there about once a week. I only had a debit card then and paid for everything this way. DG was notable in that I never had to enter my ...
3
votes
1answer
142 views
Student Loan Proof [closed]
I want to make donations to people with student loan debt. The method by which these people are chosen does not enable me to get to know each person on a personal level.
How do I verify someone's ...
1
vote
4answers
156 views
Impact of Spending Cash/Debit vs Credit Card on Debt to Income Ratio
Since debt-to-income ratio (dti) is an important factor in determining one's creditworthiness especially for mortgage rates, it is clear that one should keep the monthly recurring debt and credit card ...
0
votes
1answer
165 views
U.S. Debt Law: What will/can repo people and banks take from you and when?
I know that this question has a lot of inherent complications, such as state laws and profitability for debtors, but I ask this because there are laws in place to protect people who owe money and I'm ...
0
votes
1answer
161 views
What should I do with extra bonus [duplicate]
I've recently been awarded a bonus of 6500 EUR (Net), What would be the best approach for me?
Here is what my financial situation roughly looks like.
6200 EUR @ 4,95% (4291,63 still open) 29 months ...
2
votes
1answer
218 views
Is the credit card system gamed against the Individual?
One of the things you keep hearing online is that credit cards are gamed against the individual. Is this true? is so, apart from paying off all charges before interest gets accrued, is there ...
1
vote
2answers
133 views
Do negative bond yields pay out public debt?
I noticed that german bonds offer negative yields, as you can see in this table.My question is, considering Germany is returning less money than received, does that mean the sovereign debt is ...
72
votes
11answers
19k views
Shouldn't the “credit score” prevent Americans from going deeper and deeper into personal debt?
I'm not from the U.S but I know about the dreaded "credit score" that haunts Americans. I've seen a lot of documentaries and videos on YouTube with people that can't get a loan to buy a house because ...
0
votes
1answer
181 views
What happens with a credit card account in Germany after the card is blocked/closed?
I have an everyday account in a bank in Germany and a Visa credit card account in the same bank. At the end of each month the negative credit card balance is automatically balanced by an automated ...
44
votes
11answers
12k views
Should I take out a personal loan to pay off credit card debt?
My spouse and I have about 40K in credit card debt, in addition to a mortgage payment and student loans. We have been working hard to pay off this debt and have been moving in the right direction. ...
2
votes
1answer
403 views
Risks involved in debt funds and recessions?
I have following questions related to various risks in debt funds:
Are gilt funds safe during recession? I feel yes as they invest in government bonds, even though though they involve some inherent ...
1
vote
1answer
89 views
US debt and its creditors [closed]
What does it mean when people say that China and others own US debt and are US creditors?
41
votes
7answers
14k views
Is it legal to use cash pulled from a credit card to pay the monthly payment on that credit card?
I've got a buddy who is having problems with credit card debt. He had a small business go sour on him and ended up with about 35K of debt that's he struggling to keep under control while looking for ...
3
votes
5answers
386 views
Options to repay high interest credit card debt
I have about $14,000 in high interest credit card debt. I am curious as to the best options to attack this issue.
CC1 - $9,500 @ 19%
CC2 - $4,100 @ 21%
I have about $8k in savings I am not willing ...
4
votes
3answers
110 views
Why can convertible debts remove some risk?
After I read some articles on convertible debt, I have gained a lot of confusion. When the company (who issues the debt) is doing well, it's kind of like options. But when the company is doing bad, ...
21
votes
8answers
7k views
Strategy to pay off revolving debt while building reserve savings fund?
We currently have about $16K cash. I'd like to have $30-35K+ for a ~6 month reserve. This will be a "single giant reserve fund" that will pay for large and/or unplanned expenses, frivolities like ...
15
votes
6answers
6k views
Advice for paying off student loans and auto loans now that I have my first 'real' job
I'm hoping for some advice on which loans I should focus on paying off first.
I'm 28 and just got my first 'real' job about 2 years ago after 8 years of schooling. I've paid off all my credit card ...
1
vote
2answers
210 views
Which debt(s) to minimize first to improve credit most quickly?
Current score is ~650. Looking to improve my credit as effectively as possible, as I'm looking into houses after getting married next summer. I'm coming off of a tougher employment patch so very much ...
2
votes
3answers
280 views
Can you build credit history without getting a credit cards or taking on debt?
As far as I know I have no credit history as I have never had a loan or credit card. I buy things using a debit card tied to my credit union bank account and prefer not to have a credit card at all. I ...
46
votes
10answers
20k views
I won USD 50K! Now what should I do with it?
I won a sweepstakes and will be getting USD 50k...it is verified that it is legitimate although no taxes have been taken out so I will have to claim this income on my taxes next year, they will send a ...
32
votes
7answers
15k views
How hard is it to sell a home which is currently mortgaged?
I'm looking to buy a house for the first time. I've done some homework, and from what I can tell...
Buying a house via mortgage in Kentucky is somewhat cheaper than renting an apartment.
I need to ...
