Questions tagged [repayment]
For all situations involving paying money back to a borrowed source, such as a loan.
127
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How to stop loan providers juggling my money during employer repayment?
I've worked for a high-needs public school for many years, and finally received notice the state would be paying off my student loan debt. Last summer, they paid $6k and they will pay the remaining $...
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What is the cheapest way to pay off this loan?
I recently took out a loan in order to buy a car for work.
The contract is over a five year term, with a total of 60 monthly repayments, at an interest rate of 13% pa.
The way the lender wants me to ...
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Tax payable on student loan repayment
I have two children at university. The eldest is in his second year as a PhD student, the youngest in the third year as an under-graduate. Both have taken out student loans and owe £45,000 (for under-...
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Will my property taxes change if I get it appraised for PMI removal?
I have studied questions around Mortgage Insurance removal and various experiences (mostly painful) with lenders in this process.
I had budgeted and readied myself to make a principal payment to bring ...
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Pay out lower interest mortgage now or wait and pay higher interest later?
I have a mortgage on my primary home, which consists of two sub-account: one is for the original loan with about £30K remaining on it; the other part is the extra borrowing to build an extension - ...
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Can Income Based Repayment payment exceed your income when married?
My understanding is that IBR payment is a percentage of your household income if married. In that case can the payment actually be more than your individual income if your spouse earns more? (...
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Is 0% APR ever a bad idea?
I have recently purchased a few large items of furniture for my new home and paid a ~25% deposit on these. To pay off the remainder I can pay in full or pay monthly with a 0% APR payment plan.
e.g I ...
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Are postmark dates applicable for repayments as per IRS publication 525?
If I owe my employer repayment of benefits such as relocation/sign on bonus that occur in a single calendar year (say $10k signing bonus paid in March 2020) - if I mail a check in to repay the ...
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Tour operator asks for undue money
Some time ago I purchased a trip from a leading tour operator in Germany (I’m resident of a close-by country).
They asked me to provide them with a credit/debit card details so they can collect €1000 ...
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What is the formula for calculating the months till pay off of a credit card that includes the APR?
I'm playing around in Excel attempting to get the total months to pay off a credit card. I'm not looking to pay off by a certain date. I just want to know how long it will take me to pay off what I ...
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Should I focus on repaying private or federal student loans during Covid-19 and CARES act?
The CARES act puts the interest rate for federal student loans at 0% until December 30th and there are no mandatory payments for student loans until that time.
I owe $32,000 in federal loans, normally ...
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Purchasing a house with parent-in-law's money, temporarily [duplicate]
Say I am about to purchase a £200,000 house (moving house, rather than first-time buyer), and can get a mortgage for the £120,000 difference I need. But, my parents-in-law have offered to loan us the £...
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My company switched 401k Providers and the new provider re-amortized my loan and changed the payments
My company switched 401k providers a few years back. Recently I have been playing around with amortization tables in excel and realized that my payment should have been lower. After talking with ...
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UK student loan default payment for living abroad is lower than how much I should pay based on earning. Can I just pay the default?
I'd like to preface this by saying that if I am legally required to pay the higher amount, then of course I will. But as any human (presumably), I would prefer to pay less.
I am also on Plan 1 for ...
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Friend sent me $6500 through his company and told me just to send it back
I started helping out my friend's business a couple of months ago as a part-time worker. He's been paying me hourly through square. Couple of days ago he told me that he'll be sending me $6500 from ...
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How to calculate repayments in order to pay off a personal loan by a certain date?
I have a small personal loan ($3000 remaining).
The current interest is about 15% (per year???, charged monthly) but I also have to pay a monthly service fee ($10).
My current weekly repayments are ...
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How is interest calculated on a UK type 1 student loan?
On my student loan annual statement it says The Student Loan Company applied interest to my balance every month but only received one lump sum payment at the end of the year from HMRC, even though ...
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Should I pay down mortgage faster or Invest?
I've a appx 450K mortgage left at 2.49% (5 year term with a 25 year mortgage).
I've a few options to pay my mortgage faster
Increase principal payment amount once/year
Change payment frequency from ...
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Can I refinance my spouse's student loan?
In the recent 2 years my wife and I aggressively paid off a lot of debt in credit cards (leveraging some zero-fee, low fee balance transfer and using the money from sale of my stocks and our salaries)....
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Part payment on loan principal
I have 2 loans, loan A and loan B, for the exact same amount , same tenure and same interest rate. I am planning to do a part payment. I am trying to figure out whether to put all of the part payment ...
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Loan forgiveness and increased income, living abroad
I am intending to pursue student loan forgiveness at the end of my 20 year period and am currently enrolled in the PAYE plan. My AGI on my income taxes for the past few years while living abroad was $...
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What's the interest rate in this example of irregular payments?
Loaned out $10K, with the following payments (like, these are all the payments there will ever be)
Period 1 2 3 4 5 6
$0 $0 $0 $0 $26K $4K
How would I ...
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Where should my money go first?
I have $7000 in cash. What should I pay toward first?
Car Loan $17,000 @ 3.4% $532 a month payment
Credit Card $3000 @ 0% interest till March 2019
Credit Card $3800 @ 0% interest till Nov 2019
Credit ...
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What is a capital repayment?
I got notified recently from a company I have shares in of a payment. I initially thought it was a dividend but under payment type it says "Capital Repayment".
What does it mean, how is it different ...
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415
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How long do I have to pay back a 401(k) loan?
I have a loan taken out on my 401k through Fidelity. The loan originated on this date: 12/19/2017. I will be leaving my current workplace and moving to a new workplace that uses John Hancock 401k.
...
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Pay off loan with MESP 529?
I made a bad decision and took a 401k loan last year. I question whether I could pay off the loan with a 529 account I have through Michigan education savings plan. I would not be pulling any money ...
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Can someone declare an item be collateral without me signing anything? And seize it? [closed]
I bought a business from someone for $20,000. After paying him everything, yesterday he messaged me, saying that my car is under collateral and he will seize the car if I don’t pay him an extra $5,000....
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Letter to lender of how to apply overpayment
I'm attempting to make an overpayment to my student loans and wish my payment to not defer my monthly payment date, not alter my payment schedule, not pay off any unpaid interest, and only be applied ...
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What are the biggest pitfalls to avoid with student loans?
More often than not I read horror stories of people such as (I've Paid $18,000 To A $24,000 Student Loan, & I Still Owe $24,000) that acquire college debt, pay monthly for years, and end up owing ...
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Lump sum vs interest free loan
I'm considering buying a service which will cost around £6000 (which I consider to be a significant amount). There is a financing option available which allows the amount to be paid off over 24 months,...
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How to Calculate a BiWeekly Repayment Loan?
I want to calculate the biweekly repayment loan. I have gotten the monthly using this formula
(D) = {[(1 + i) ^n] - 1} / [i(1 + i)^n]
Monthly Payment = Loan_Amount / D
How can I convert this to ...
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Is it a good idea to make a lump-sum payment to pay off a personal loan, even if I want to build credit history?
I have recently received some money that I could use to repay my personal loan, however I am not sure if doing that, is a better idea than continuing paying the loan normally, with instalments taken ...
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Partially vs. Fully Amortized Loan
Isn't the article beneath wrong to interpret a Fully Amortized Loan as a loan with 7 years maturity? Isn't the correct comparator a Fully Amortized Loan with 30 years maturity, and 30 years ...
user102055
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Getting married but avoiding joint income claims
My girlfriend and I are planning on getting married. However, she has racked up quite a bit of student loans(60K+). Currently, she has been on a repayment program (PAYE) with a 20 year loan ...
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How does Sallie Mae calculate its payment?
Short Version
Can anyone figure out how Sallie Mae comes up with its personal loan payment amount?
Long Version
I have a friend who took out a personal loan with Sallie Mae, and their payment ...
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1
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What is nelnet doing with my auto-debit student loan payments?
I recently (A few months ago) bumped up my loan repayment. My repayment just started this year.
So, I took a look at how nelnet is allocating my auto debit, and my payment history looks like this:
...
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3
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Is it illegal for a student loan servicer to lower the minimum monthly payment after overpayments?
I've been aggressively overpaying my student loans, which has led to them lowering my minimum monthly payments.
The servicer and lender can presumably argue that they are doing me a favour, but my ...
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Options for paying for a nonreturnable leased vehicle
Late last year, my girlfriend's car was stolen and subsequently destroyed. This car was a leased vehicle. For reasons beyond her control‡, the insurance had lapsed a few months prior. The ...
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2
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Credit Card Amortization via Principal-Only Payments
On a home loan amortization schedule, I can make the monthly payment and add the principal-only owing for the "next" payment along with it, and avoid paying the interest for that next month, which ...
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What mortgage term to go for (short term)? [duplicate]
I current have a mortgage with less than 14 years on the term with an outstanding balance of approx 100k.
I will be moving house in the next few months, but the house I move to (purchase) will only ...
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Is there any loan forgiveness or help for a large Federal parent student loan?
If a parent has a federal student loan for her child's education of over 100 thousand dollars, and she is having trouble paying off, is there any sort of forgiveness, or help?
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Borrowed money from a friend to pay College fee - Implications of not paying
My wife is a US Citizen. She borrowed money from a friend to pay for her college.
She is unable to repay on time. She needs a bit more time, but unfortunately the lender is not ready to wait. He ...
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What method do I use to pay current expenses while paying off credit card debt?
I’m hoping you can help me with a question that seems very hard to google for some reason.
I have $20K in debt on 4 cards, and I have set up a plan to pay off the deferred card on time, and the ...
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I'm unemployed. Should I pay off my credit cards to avoid monthly payments?
I'm unemployed and on a tight budget with 6 months of savings. Should I pay off my credit cards to avoid monthly payments even if it reduces half of my savings? Is there a risk of the bank reducing my ...
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How exactly does a Level / Standard student loan repayment scheme work?
I have a question regarding standard (or 'level') debt repayment plans, specifically for my student loans. Hoping someone might have some insight.
"Standard repayment is a level payment plan, with up ...
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Can employee share ownership plan (ESOP) contributions to an RRSP account qualify as HBP repayment?
Can employee share ownership plan (ESOP) contributions to an RRSP account be designated as repayment towards a previous withdrawal made under the Home Buyers' Plan?
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Formula for Calculating Periodic Fixed Payments with Multiple Rate Changes
I'm trying to figure out how to extend the formula provided by Chris Degnen in this previous question What is the formula for the monthly payment on an adjustable rate mortgage? to add in a third ...
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Finding monthly payment for ordinary simple annuity with varying interest rates? [closed]
I've been working at this question for some time now and I'm quite stuck. Some help would be greatly appreciated. I can figure out recurring payments by themselves, but I'm drawing a blank when it ...
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Should I pay down my student debt early?
I just graduated university and started my first job. I have £50,000 in student loan debt at 6.1% interest.
My monthly payment on this debt is £10 (direct from my paycheck). I can afford to pay £...
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Does early repayment affect the credit score?
If I take the personal loan, start making payments regularly and then decide to completely repay it - what will happen to my credit rating?
Would it improve, decrease or not be affected?
user63058