Skip to main content

Questions tagged [loans]

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.

Filter by
Sorted by
Tagged with
1 vote
0 answers
44 views

Do you need to pay any income tax on a director's loan in the UK?

If there is large director's loan, say £40,000, but that amount is paid back before the deadline of 9 months past the company year end, and the interest is paid to the company at HMRC's recommended ...
cammil's user avatar
  • 279
1 vote
2 answers
305 views

Can you get a mortgage loan larger than the house amount and buy a car with the remaining loan amount?

Would it be possible to get a mortgage loan for 40-50,000+ the amount of the house and then use the remaking amount of the loan to buy a car? The house is 62,000 and I’m pre-Approved for 120,000 .. ...
Nat M's user avatar
  • 11
1 vote
1 answer
3k views

Daily interest calculation on a 30/360 basis, considering payment occurs before schedule — how-to in Excel?

I'm setting up a payment spreadsheet for a loan just granted, and want to be able to make daily calculations of accrued interest. The debtor has been given a payment schedule with an interest only ...
Miguel Olano's user avatar
-2 votes
2 answers
2k views

Bank financing vs. Owner Financing (Dan Pena QLA, Company Acquisitions)

I have a question about small detail in QLA program from Dan Pena about company acquisitions and business loan lending in general. My question is related to the 03:45 (minute:second) moment of the ...
Andrew0's user avatar
  • 47
0 votes
1 answer
185 views

How to calculate a loan constant payment (like PMT) but extra double paying (without interest) twice a year

This is my first post in this community, already tried to find my answer, and didn't succeed :(. I'm working a way to understand the formula behind a loan that allows the client to extra pay the same ...
benjaroa's user avatar
  • 111
1 vote
0 answers
126 views

How do I know when my applications for disaster relief loans have been approved?

I applied to all 3 programs as I have a business in NYC: SBA EIDL - Economic Injury Disaster Loan Emergency Advance PPP - Paycheck Protection Program NYC Small Business Continuity Program I think I ...
Patoshi パトシ's user avatar
1 vote
1 answer
494 views

Buying a new house; lender asking for my friend’s bank account statements

I am buying a new house. I borrowed $5k from a friend to use for the ‘earnest money deposit’. Now the agent for the mortgage company tells me that they demand to see my friend’s bank statements for ...
Shōgun8's user avatar
  • 133
5 votes
1 answer
2k views

UK Student Loan - Overseas Arrears

I graduated from university in 2011 with student loans totalling roughly £30k. After a brief stint working in the UK, I moved to work in Japan. A month or so after moving I informed SLC of my new ...
Rigo's user avatar
  • 51
2 votes
5 answers
403 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 ...
sparkle's user avatar
  • 121
2 votes
1 answer
96 views

Giving a loan: one large cheque vs. many small ones

Suppose I want to give someone a loan of $10,000, to be returned in a year. Naturally I would ask him to give me a single postponed cheque of $10,000 for a year. But I thought of a second option: ask ...
Erel Segal-Halevi's user avatar
0 votes
1 answer
98 views

Why do banks agree to finance Private Equity buyouts?

Private Equity buyouts are sometimes described as follows: PE buys a company using huge loans, secured with the assets of that same company. They then pay themselves (who are now the new owners) ...
Joshua Fox's user avatar
2 votes
0 answers
93 views

COVID-19 SBA loan forigveness

The COVID-19 Paycheck Protection Program includes provisions for forgiving those loans. Normally when debt is forgiven you have to pay taxes on the forgiven debt. Will recipients of Paycheck ...
neubert's user avatar
  • 3,832
2 votes
2 answers
307 views

Loaning money to your small business by billing yourself and paying with personal credit card?

Can you loan money to your own small business by billing yourself and making a payment to it with your personal credit card? How would the accounting work on that? The business isn't actually billing ...
BladePoint's user avatar
2 votes
1 answer
155 views

repay the loan I gave my LLC

I gave money to my LLC (in the US) and now that the business has made some money, I want to pay myself back. If the LLC writes the check in 2020, can it still be deducted from the 2019 business tax ...
Alan Wu's user avatar
  • 21
3 votes
0 answers
82 views

What percentage of payday loan consumers pay back their loans? [closed]

What percentage of payday loan consumers pay back their loans? Before going to collections? After going to collections? There is a lot information on borrow demographics, laws and regulations ...
S.B.'s user avatar
  • 131
1 vote
2 answers
11k views

'principal balance' vs 'outstanding balance'

Is 'principal balance' same as 'Outstanding Balance'? My understanding is - In amortisation schedule, Outstanding balance gets reduced according to 'principal' portion of your monthly payment. After 6 ...
DBD's user avatar
  • 111
-3 votes
1 answer
89 views

With reserve requirements eliminated what reason banks have to not approve every loan? [closed]

Quoting wikipedia: On March 16, 2020, amid an economic crisis caused by the 2020 coronavirus pandemic, for the first time since the inception of the Federal Reserve, the fractional reserve ...
NoSenseEtAl's user avatar
0 votes
0 answers
42 views

what is the actual OBFR loan rate fee?

The OBFR for March 13 2020 was 1.10%. When a company takes a 1 million over night loan, so they pay 1.1% fee of $11,000, or is it annual like credit card and mortgage where the 1.1% gets divided by ...
KingsInnerSoul's user avatar
1 vote
1 answer
67 views

Principle and interest calculations [closed]

I have a loan at 5%, I know the total owed and the monthly payment and need aschedule giving me the interest and principle paid each month until paid in full. Where can i find a schedule calculator ...
JImmy's user avatar
  • 11
0 votes
0 answers
38 views

Specific name for a refinancing mortgage loan

I have a translation issue and I'm not sure where else to turn for help. In our country, there is a type of refinancing of a mortgage loan, which works thusly: Someone decides to renovate their ...
Martina Tuláčková's user avatar
0 votes
0 answers
61 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 ...
LosBravo's user avatar
2 votes
1 answer
142 views

Personal loan from mother

My mother paid my college fees when I came to America for my master's degree. She also paid my living expenses. All of which amounts to around 40,000$. She paid me this amount between 2015 to 2016. I ...
Aditya's user avatar
  • 395
5 votes
4 answers
207 views

Is there such a thing as a truly preapproved credit card or loan?

I receive quite a few "preapproved" credit card and personal loan offers in the mail. These invariably include an application form and a disclaimer that the card or loan might not be granted if ...
Robert Columbia's user avatar
2 votes
0 answers
24 views

What does indemnity mean in a "Historique Espèces" (~= history of cash operations) of a securities account in a French financial institution?

I am reading in a "Historique Espèces" (~= history of cash operations) spreadsheet of a securities account in a French financial institution, namely Fortuneo. It says: I'm quite confident that indemn....
Franck Dernoncourt's user avatar
15 votes
7 answers
5k views

401k loan & repayment: double taxation?

I've heard a few people say that taking out a loan against your 401K and repaying it means that you are taxed twice: You are repaying your loan using after-tax dollars You are going to be paying a ...
Sam's user avatar
  • 733
1 vote
3 answers
494 views

Should I buy a house or wait for the housing bubble to burst?

I am a 23 year old living in Romania, currently renting an apartament. I am earning enough that I am now looking to buy an apartment of my own in the near future with a mortgage loan, but, right now, ...
Bogdan Ionică's user avatar
5 votes
2 answers
321 views

How does a financial crisis affect banks' willingness to lend money to private individuals for real estate purchases?

I am interested specifically in whether banks are more, less or just as willing to lend money during financial crises. Google doesn't seem to return an exact answer to this question and going over ...
Bogdan Ionică's user avatar
6 votes
5 answers
5k views

Early payoff of mortgages: does the interest get recalculated?

I understand that a monthly payment of a mortgage consists of principal and interest. At the beginning of a mortgage, most of the monthly payment goes towards the interest and only a small part ...
Botond's user avatar
  • 163
27 votes
5 answers
12k views

Buy house with down payment, no loan, sell instantly

I just read Rich Dad Poor Dad, and I have no idea about mortgages, loans or real estate. The author of the book describes a scenario in which a property is found for a cheap price (auction in this ...
Opcode's user avatar
  • 387
1 vote
1 answer
399 views

Calculating Interest Rate From EMI

Suppose there is a loan with equated monthly installments. If I know the loan period, loan amount and equated monthly installment amount, is there a way to calculate the interest rate? EMI= a * (1 +...
user avatar
1 vote
3 answers
1k views

Can an individual borrow directly from the Bank of England (or any central bank)?

How it normally works is that individuals can apply for loans from high-street banks, who charge an appropriate level of interest. The banks get the money from savers' deposits - and also they may ...
Chris Melville's user avatar
2 votes
3 answers
4k views

What is the difference between a loan and credit?

From other sites I’ve gathered that loans are for long term purposes (12-48 months) with lower rates of interest, while credit is mainly to meet monthly purchases with higher (monthly) rates of ...
Dora's user avatar
  • 123
1 vote
3 answers
6k views

Must I file Form 1099-INT for interest on a business loan from an individual?

The 2020 Instructions for Forms 1099-INT and 1099-OID says that "you are not required to file Form 1099-INT for interest on an obligation issued by an individual", but I don't understand what they ...
ma11hew28's user avatar
  • 507
0 votes
2 answers
92 views

Finding weekly interest on loan payments

In order to know how much interest I will be paying on weekly basis, I have this information: Capital: 313 pounds APR: 48.5% Payments periods: 104 weeks How do I know how much interest I'm paying ...
nidabdella's user avatar
72 votes
1 answer
10k views

My friend cosigned for a defaulted loan. Should he declare Chapter 7 bankruptcy?

Background: My friend Abe co-signed an auto loan for about $25k with his "friend" Bella, in the USA state of Maryland, about 4-5 months ago. The car was for Bella's use. The deal was that ...
President James K. Polk's user avatar
0 votes
1 answer
176 views

If a personal loan was made in one state, and they now live in a different state, and you live in another state, which state do you file?

I loaned a friend money. He then vanished. 18 years later I found him. He lives in a different state then where the loan was made. I also live in a different state. I know there are time limits, but ...
Robert's user avatar
  • 1
39 votes
4 answers
18k views

How do I lend money to a friend for a car and put the car as collateral?

A friend of mine wants to buy a car, but does not have the money for it. Instead of him going to a bank and borrowing the money to buy the car, I was thinking of maybe taking some cash from my bank ...
Jonathan's user avatar
  • 415
0 votes
2 answers
923 views

Why do payday loan ask for social security number?

Is there any specific reasons why payday loan companies ask for social security number.
Robin Williams's user avatar
1 vote
3 answers
279 views

How to afford an expensive medical operation abroad from in the UK?

I'm currently investigating ways of getting an expensive medical operation done in Spain. It's not something the NHS covers and after doing a lot of looking around I've decided that this is best ...
HazelCheese's user avatar
6 votes
1 answer
532 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. ...
WillRoss1's user avatar
  • 163
0 votes
1 answer
72 views

How to quantify the effect of compounding interval on total interest accrued

I am struggling with calculating the total interest to be paid on a loan, when given Principal, APR, Compounds per Year, and term. Mostly, I get confused when the term is not the same unit as the ...
B1000's user avatar
  • 1
-4 votes
1 answer
145 views

How does one calculate the following loan problems? [closed]

1.) Calculate the total interest to be paid on the loan during it's lifetime. Compute for BOTH compound interest and simple interest models. Start Principal = $21,315.00, Date of Disbursement = 9/...
FrozenLamb's user avatar
0 votes
2 answers
192 views

Can a secured loan help me build credit?

I'm moving to the US from the UK in January. I have just opened a bank account and have applied for a Capital One secured credit card to help start building credit. Would also taking out a secured ...
Spaig87's user avatar
  • 101
2 votes
2 answers
331 views

Bypass credit agency and pay loan directly to US Dept of Education?

My employer received a letter from a creditor agency ("Central Research") ordering that they garnish up to 25% of my salary for the loan. The language that they used in the letter to them was ...
Joseph's user avatar
  • 21
19 votes
14 answers
16k views

I’m 18 years old and want to finance a £30,000 car [duplicate]

I'm 18 years old and I've always wanted an Audi Q5. Currently, I'm working full-time. I earn £28,800 annually and that will be due to go up soon. The car I've had eyes on costs £31,789. The monthly ...
Rickss's user avatar
  • 255
0 votes
3 answers
706 views

Why to borrow in USD instead of EUR?

With much lower interest rates in EUR than in USD it should be meaningful to borrow the former instead of the latter. Indeed, as reported by various sources (Bloomberg and Reuters for example), EUR-...
Giovanni De Gaetano's user avatar
14 votes
4 answers
4k views

50K, what to do with it? [duplicate]

I'm 26 and a double masters student in transportation planning and engineering. I have received 50k in settlement money; I don’t know what’s the best course of action with this money. Im looking at 56,...
user92143's user avatar
  • 141
3 votes
4 answers
1k views

Can I keep my car loan if I trade in my car?

I have an excellent rate (1.9%) on a loan that has 3 years and roughly $8900 left on it. I’m not sure how I got such a great rate on a 6 year loan but here I am. Anyways I would like to get a new car....
Chuck0185's user avatar
  • 151
1 vote
0 answers
32 views

Enhancement of the open source lib for calculation of IRR (internal rate rate)

I am cs student , and has been asked to enhance the documentation for open source lib finance.js for IIR (internal rate of return) for various industry Here I am trying to calculate IIR for the ...
Khaula Fatima's user avatar
4 votes
2 answers
239 views

Question about plausibility of an iffy financial transaction in a crime novel

This is a question about a financial transaction in a novel. At the denouement of the book, An elderly, naive, innocent, middle-class couple who have been bilked by a loan racket run by extremely ...
ab2's user avatar
  • 1,900

1
3 4
5
6 7
23