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Questions tagged [repayment]

For all situations involving paying money back to a borrowed source, such as a loan.

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23 votes
3 answers

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 ...
internetproj's user avatar
28 votes
5 answers

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 ...
Chelsea 's user avatar
8 votes
2 answers

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 ...
Lost1's user avatar
  • 193
15 votes
1 answer

$140,000 student debt. What are my options? Please help

As the title states, I am about to finish my PhD with $140,000 dollars worth of student debt. Assuming I even obtain my desired position—a university professor—my salary will be in the upper $40,000. ...
sac817's user avatar
  • 151
15 votes
5 answers

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?
user avatar
12 votes
1 answer

Myth, or not: If using a secured card to build credit, paying off in part each month has more benefit than paying in full?

Does paying off a secured credit card in full each month not allow me to build a credit history? I'm asking because reading about regular credit cards indicates that paying in full helps build a good ...
Teknophilia's user avatar
4 votes
3 answers

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 ...
Gili's user avatar
  • 532
2 votes
3 answers

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 ...
user3276954's user avatar
2 votes
2 answers

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. ...
Jonny1978's user avatar
2 votes
1 answer

First time home-buyer incentives require 3 years of primary residence, but can I move if I'm laid off?

My wife and I are 25-months into an FHA loan (we received a first time home buyer tax credit), and I seem to recall that we cannot sell or rent the property for at least 36-months. That wasn't a ...
anonymous's user avatar
1 vote
2 answers

Student loan tips for repayment, consolidation for a pharmacy graduate

I am including the student loan information for a friend below. Also including a link to the excel sheet here There would be about 3,000 left every month after various expenses. Friend is a pharmacist,...
pal4life's user avatar
  • 205