Questions tagged [repayment]
For all situations involving paying money back to a borrowed source, such as a loan.
131
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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 ...
2
votes
1
answer
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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 ...
3
votes
1
answer
250
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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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2
answers
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I have paid $7000 extra of my mortgage in 6 months. Should I transfer this to my $11,000 car loan or is it better of the home loan?
My car loan is 6.49% but it costs $12 a month for every month you pay it off early. It is a 60 month loan, I have been on it for 6 months and have paid off $2500 (From $14 000 to $11-500.
My ...
3
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1
answer
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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 ...
7
votes
2
answers
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Will paying off my mortage quickly harm my chances in the future?
I'm currently nearing the end of the first year of my new 25-year mortgage, which is a five-year fixed plan at 3.39%. As it stands, I can make overpayments of up to 10% of the original loan every year ...
3
votes
2
answers
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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 ...
3
votes
3
answers
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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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2
answers
2k
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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?
28
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5
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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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vote
1
answer
234
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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 ...
15
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5
answers
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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?
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1
answer
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Loan Prepayment
I will be applying for a car loan shortly, and trying to evaluate various lender schemes. I was not really sure when its mentioned as
No Pre-Payment Penalty or Foreclosure Charges
Let say I have ...
1
vote
2
answers
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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 £...
2
votes
2
answers
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Repayment of loan I made to my own LLC
I loaned $60,000 to my own single owner LLC over the past 6 moths to pay for start up, salaries, rent and business expenses to get it started.
It is now moving towards profit and can afford to start ...
4
votes
1
answer
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Student loan repayment question (UK)
I have significant student loan debt.
I am on plan 2 repayment and just received my first payslip.
I earn £22k and so by their rules I need to pay back 9% of my annual salary over £21k that being in ...
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2
answers
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How much is saved by changing the date of monthly mortage payments?
My mortgage is paid on the 25th of every month by a direct debit.
I could change this payment to the 5th (as the money is waiting in my account).
I assume (perhaps mistakenly) that I then wouldn't ...
0
votes
1
answer
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personal heloc to pay off rental
I have 4 properties with reasonable cash flow. These are owned by my LLC.
At current payment schedules, 1 rental pays off the property in 4 years, the next in 6 Years, the next in 9 years, the last ...
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vote
2
answers
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Need help on understanding the Interest Notice I got from FedLoan
I just got a interest notice which says this is not a bill. But I have hard time understanding what this notice is for, if it's not a bill then why does it asking me to pay? It says I have total ...
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2
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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,...
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1
answer
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How does Income Based Repayment work if I am self-employed?
From my understanding, income based repayment for federal student loans is based off of my yearly income. How does it work if I am self-employed and don't have a steady and predictable paycheck every ...
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2
answers
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Number of Repayments [duplicate]
Say for example I take a 30 year mortgage and I make repayments fortnightly. How many repayments will I be making, will it be exactly 780? If so, how does one account for the extra days?
4
votes
2
answers
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Home loan for Granddaughter
Can I use collateral of my $325000 home which I own in Australia to help my granddaughter buy a house in her name.
Can the repayment be structured as Interest Only for initial few years. She is ...
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2
answers
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How come more interest than principal is paid at the start of repayment? [duplicate]
How come more interest than principal is paid at the start of home loan repayment? What's the rationale?
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2
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What are the typical repayment plans for Credit Cards in the United States?
I'm not from the USA but I have a question since I'm going to be there soon.
Where I'm from you can split credit card repayment to spread them over few months.
For example if I bought something worth ...
23
votes
3
answers
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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 ...
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vote
1
answer
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Are there any regulations regards end of loan payment procedures?
When I was a student, one of my student loans was a Federal Perkins Loan. I was done paying the loan fully about 5 months ago. Since then I called couple times to the university asking about it, and ...
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votes
3
answers
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Can extra mortgage payments be made to lower the monthly payment amount?
Is it possible to set up a 30 year mortgage where extra payments lower the monthly mortgage? Typically, extra payments go to shorten the length of the loan. All real math aside, let's say I put an ...
4
votes
2
answers
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Understanding Credit Card Repayments and Usage
I tried reading related questions, but I can't seem to digest how credit cards really works.
Here is the scenario:
Credit limit: 15,000.
Statement:
Period: (24-Nov-2016 to 23-Dec-2016): 9000 full ...
2
votes
1
answer
589
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Term loan overpayment options: applied to principal, or...?
Twice in my life now (as of yesterday) I've found myself in a very confusion situation after having made higher-than-scheduled payments on a term loan for an extended period of time.
The first time, ...
3
votes
1
answer
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Student Loans: Income-based repayment & income tax bomb
Situation: I have a pretty sizable student loan burden ($150,000 with 6% interest), where I can't afford the regular payments (about $2000/month) with my current salary ($60,000) at job I'm starting ...
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vote
1
answer
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Mortgage: make early repayments from the beggining, or invest elsewhere and repay later?
I have a 12 years mortgage. If I have extra money, should I use it to repay early (thus saving time and interests), or should I use that money to make investments, and use the profit from those ...
3
votes
1
answer
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Paying off loan early: Apply overpayment toward balance vs advance payment due date?
I want to pay off half of my high interest student loan with a lump sum.
I have 2 options when applying the payment: to apply the amount to my balance or to advance the due date (i.e. to apply ...
3
votes
2
answers
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Tackling an obscene amount of student loans
So, in my journey to get to where I am today, I spent a good 7 years getting a Master's degree. This, of course, led me down the path of student loans.
Currently I sit at just over 100k in student ...
2
votes
5
answers
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How can a skipped a early repayment on a specific month can affect the cost of my mortgage?
I struggle to understand how mortgage and interest rates works.
(I made up the figures to keep it simple)
Some facts:
My balance is £206.000
Each month I repay £950 (capital + interest)
I do a ...
11
votes
1
answer
991
views
Will credit card payment from abroad be suspicious as taxable income?
If I have someone (a family member) pay a portion of my U.S. credit card debt[Repayments] from a bank abroad. The money is directly paid to the credit card account and not to my regular bank account.
...
0
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2
answers
135
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Calculate money owed on shared loan
I am in an interesting situation that I am looking for help with.
I went to college a number of years ago, as did my brother. My mother had two student loans (one for each of us) and a few years ago,...
12
votes
6
answers
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Can I pay a 30 year fixed loan like a 15 year fixed loan?
I'm on a 30 year fixed loan with the following properties:
5% interest
No penalty for early payments
Pretty recent loan, hardly any equity
I'd rather be on a 15 year fixed loan, so that I can pay ...
4
votes
1
answer
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Is the repayment of monies loaned to my company considered income?
I have been working diligently for years to get my business off the ground. I have been funding its monthly operation via my personal funds, each month lending the company (an LLC) just enough to pay ...
3
votes
1
answer
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Fixing Credit With Several Small Debts
I am a recent graduate from the U.S. with a checkered credit history. I have a few items in collection now totaling about $750 or so. Previously, my attitude would have been to let these slide until ...
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1
answer
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Ask rebate in loan repayment
The interest rate made my loan to a very large amount from the one which i borrowed since I could not pay it for some time(I missed some EMI).
Now I have money to pay it full, Can I ask bank to allow ...
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0
answers
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What counts as 'qualified government orders'?
In 2008, we received a first time home buyer credit. In 2010, I became a government employee. In 2015, I transferred to a new position in a new city which made me part of the intelligence community. ...
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votes
3
answers
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Mortgage refinancing
Lets say I buy a house worth £350k with a mortgage of 30 years.
Down-payment of £50k and monthly £1250 with 3% interest.
After 5 years I realized I can afford £5k monthly, can I pay off some debt to ...
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6
answers
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Should I pay off my 50K of student loans as quickly as possible, or steadily? Why?
I was an idiot in college. I basically just used student loans and got very few grants. I also spent way too much time in there. I now have two bachelor's degrees and a master's degree. About 7 ...
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5
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At what point should I begin paying off student loans?
I am attending a rather pricey American university, and most of my money for tuition comes from grants and loans. Grants are great, but obviously I have to pay off loans at some point.
I have some ...
2
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3
answers
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Mortgage payments
Background
I was watching a video about mortgage-backed securities on Khan Academy (ref. this video, skip to 2:32), and something struck me as odd about the way he presented the mortgage model. He ...
0
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3
answers
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Will paying off a credit card early affect my credit score?
I am 24 years old and have been trying to keep a close eye on my credit. I know that I should be using about 20% of my credit limit. However, I now have about 40% used. I have plenty of money and I ...
0
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1
answer
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Mailed in One-time Payment by Check
I make payments to my monthly credit card account via pay by phone. Two months ago my boyfriend made a one time payment on my credit card account (payment was mailed via check). I resumed by pay by ...
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2
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Does paying more frequently on a simple interest auto loan save me money?
My Auto loan is calculated by "simple interest". Would paying weekly save me money? If so, wouldn't paying daily save me even more money?