Questions tagged [repayment]
For all situations involving paying money back to a borrowed source, such as a loan.
132
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Are all my sources of income considered when calculating the repayment of my student loan?
Actually, I have two questions.
I have a student loan income-based repayment, from my studies in the UK. Are any other income sources rather than my salary considered?. For example, a rent I get from ...
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2
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400
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Do home loans ever have a limit on what can be paid toward the principal?
Do home loans ever have a limit on what can be paid toward the principal during each month (or billing cycle)?
In other words: Do some lenders prohibit taking out a home loan and paying it completely ...
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1
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Student loan repayment strategy - pay little by little or a big chunk at once before interests kick in?
I am a 29-year-old student who was graduated this month and looking for an apartment to rent.
I have a job offer for $109K/year but that won’t start until September.
$145K student loan with the ...
- 50.6k
2
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1
answer
61
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How do I Calculate future monthly loan payments after interest-only period ends?
When I was in school, I was paying only interest on my Sallie Mae student loans. Now that I am graduated, my payments are made on the interest as well as principal. I am trying to calculate my monthly ...
- 53k
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I have not paid my bill to Ability GmbH due to medical tragedy and moved to India what happens
It will be helpful if I find answer for this. I was working in Germany and there I registered in some dating site which I forgot after I moved to India due to my medical tragedy and now I am in ...
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2
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165
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Is paying back a HELOC similar to paying a credit card?
Background: Due to some not-so-good financial/home decisions by my spouse, I now must pay off our HELOC to the bank. We own the house but the bank owns us b/c the HELOC was only paid and never paid ...
- 53k
8
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4
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Is there any circumstance in which it is necessary to mark extra payments on a loan as going to "principal and not interest"?
I've heard for years - and not believed - that it was necessary to mark extra payments, clearly targeted towards a particular loan, as "apply to principal" or any other such magic wording in order to ...
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1
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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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2
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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 ...
- 16.9k
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1
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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 ...
- 13.8k
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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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2
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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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2
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2
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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 ...
0
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1
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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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1
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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 ...
- 115k
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3
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Can I draw funds from a personal line of credit to pay its own monthly "minimum payment"?
I can guess the answer to this question, but I can't figure out why. So here goes...
I've got an unsecured line of credit with a limit $30,000.
The annual interest rate is 6%, compounded daily.
Every ...
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2
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87
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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 ...
- 31.7k
2
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2
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354
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Why am I not entitled to keep the money given to me by the Government in error? [closed]
unemployment insurance made a mistake by giving me money that I wasn't entitled in the first place and I didn't know till recently they with held my state tax, I went to department of labor in my city,...
- 53k
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3
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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 £...
- 35.7k
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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 ...
- 31.7k
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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 ...
- 31.7k
4
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3
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8k
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How do I calculate interest on a personal loan with irregular withdrawals and payments?
Several years ago, I loaned money to a family member. They borrowed different amounts at irregular intervals. They are now beginning to repay, so I want to establish exactly how much they owe. I have ...
41
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8
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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 ...
- 1,171
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3
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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,...
- 22.4k
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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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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 $...
CommunityBot
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3
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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?
8
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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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5
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5k
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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 ...
- 130k
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180
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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)....
CommunityBot
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4
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2
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How to recalculate an amortization table after making a large payment?
I have an auto loan I wish to apply a very large amount to. I have a amortization table that shows me details for each payment I make. Here's where it gets complicated...
My lender does not allow ...
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What is the formula for the monthly payment on an adjustable rate mortgage?
Can people tell me how monthly payments are calculated when a mortgage has an initial rate?
What is the formula?
I have seen online calculators but not formulae.
My guess is:
We assume that the ...
-1
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2
answers
143
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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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43
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9
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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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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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382
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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 ...
- 9,800
7
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3
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4k
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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 ...
- 27.9k
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6
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599
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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 ...
- 3,699
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1
answer
4k
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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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1
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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?
CommunityBot
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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 ...
CommunityBot
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2
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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.
...
- 2,131
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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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9
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10k
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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 ...
CommunityBot
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2
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2
answers
1k
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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 ...
CommunityBot
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2
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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 ...
- 9,677
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1
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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 ...
- 136k