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Hot answers tagged

152

Advice based on USA style system. Do not pay it. Do not talk to the creditor. What you have is old debt. The debt is not still accumulating, it has stopped some years ago, and now, the debt is slowly aging out. After 7 years, it falls off your credit report. After some shorter amount of time, 2-6 years typically, it will become "time-barred" ...


131

Because you don't have the jobs lined up, it makes more sense to rent for a few months for a couple of reasons: A: You should never deplete your emergency fund of 3 to 6 months for non-emergencies B: Once you land a job, you can make a better judgement as to where to live for the commute. C: Car loans and credit cards are expensive forms of debt that ...


80

After 8 years, you should have a fundamental understanding that things will not change with this ex-boyfriend. He may not be found, and even if he is, he will not pay any portion. Dragging him through some legal process will cause you to spend money and emotional capital for something that will yield no result. It is a complete waste of time. So really ...


80

Rent is not a debt because you have not borrowed any money from the landlord. Your current month's rent is a (very) short term liability, as are other payments for services rendered (like utility bills and maid service). Future rent obligated by a lease agreement can also be considered a liability, or you can consider the cost of breaking the lease to be a ...


71

The two basic rules for not getting scammed while apartment hunting are: Never sign the contract before you inspected the property in person Never pay money to inspect a property in person Carefully chosen pictures can hide a lot of nasty details. Pictures also don't communicate sound or smell. So insist on a tour of the apartment before you sign the ...


63

Short answer: you're ok, just deposit it all at once and keep records. Long answer: the $10k rule is just what triggers an automatic bank report to the feds. Structuring the deposits into smaller amounts will be more trouble than it's worth, and could trigger the very audit you are trying to avoid! Since this amount is legitimate, don't worry about it. ...


44

Just ask your landlord and agree on a date with him. From the way the sentence is worded, I'd assume you are expected to pay by the end of the 23rd, but really, there is no reason not to give your landlord a call to make sure.


44

No. The starting point is what other rentals are going for in the area. Supply and demand dictates a fair starting price. From there, you can adjust up/down for the fact that you know this person. (To be clear, this is the answer, i.e. the renter should neither know nor care what your costs are, only what similar properties rent for.) (Note, there are ...


37

Landlords vary wildly on policy, some are more rigid than others on income requirements. In a college town it will be more common for potential tenants to not meet income requirements. For students some landlords will request that parents co-sign, but others will recognize your savings as adequate proof of ability to pay. This is sometimes a concern for ...


35

Do one transaction, and if they ask, explain it: there is nothing wrong with this. Do not split the transaction into multiples to avoid the reporting threshold; that's structuring even if what you're concealing is legal! You aren't taxed on money you're holding for him. If he moves out before the full year is up, you must be prepared to refund the unused ...


31

@Adam Klump gave the advice I would personally follow, but I want to give a third possibility. I'm not from the US, but it seems to me that you don't have to buy the house outright in cash, you still have the possibility to take a loan. You'll still be able to pay it off whenever you want, and may be able to negotiate low interest rate and have the money ...


23

You are overlooking the real cost of automobiles People have a strong tendency to wildly delude themselves about the true, total costs of automobiles. AAA tallies up the total, real ownership cost of a reasonably recent car. It came out to $8,841 last year for a 15,000 mile/year car, with SUVs pulling up the average. You didn't say where you aim to ...


23

The answer is a certain 'no'. There was a question along the lines of "How can one always be debt-free, given that we get monthly bills?" In that case, we make the distinction between an accumulated debt and regular bills. I'd prefer not to argue word definitions, per se, or semantics. For purposes of such exercises, your highlighted quote helps make the ...


19

you could offer to pay 6 months rent up front and then move to paying monthly. I did that when I moved to a new country with savings but no job and had no problem getting people to accept the deal. You will miss out on a bit of interest but it should make the process nice and easy


15

Joint and several liability means they will go for the person that has the most assets or is easier to trace. It would appear that you are way past the statute of limitations for most states (e.g. six years for New York) and unless you make any agreement with a debit collector, which starts the timeline again from that date, they shouldn't be able to pursue ...


15

Even for any landlord that wants to rent the apartment to evade tax process, it is too fishy to ask the renters to send money outside Austria to Italy. As some people already mentioned, anyone can rent an Airbnb apartment and take tons of photo to scam people, so sometimes see for yourself is not enough. Since the country tag is Austria, it seems the "...


12

If you're dealing with cash, do it in one deposit. Yes, your bank will generate some paperwork to let the government know about the transaction and that will potentially make the IRS more interested in auditing you down the road. But breaking up a large transaction into smaller transactions in order to avoid the bank generating that paperwork is a felony ...


12

Since this is in Austria, you can check the Grundbuch to verify who the owner of the property actually is. This can be done online and the price is about 12 EUR. We recently did just that for a shop we are renting. It's simply part of the due dilligence process. Taking copies of passports seems to be very common here, it is surprising to me as well (...


8

Not really. Imagine a house that was purchased 30 years ago or one that is paid off. The low/no mortgage has nothing to do with the rent. Your rent should be more about "fair market value". NOW, what you can coordinate is your rent vs how long your mortgage is. When I'm paying off my own house, I usually go for 15 years. For rental houses, I ...


7

Unfortunately, yes, this is common. The landlord thinks you are "locked in" and likely going to stay for a while, instead of move out. A modest increase in rent can be expected yearly, but only if they are increasing rent on everyone at the same time. As this comes during your renewal, it's suspect it isn't happening to everyone. Reapplying for a different ...


6

My advice is to cost-compare buying vs renting before making the plunge to buy a home. Where I live, it's much more cost-effective to rent. Brother and I thought about buying a house. Even if we bought the house out-right with cash, we'd still have insurance and taxes to pay (not to mention any home repairs that might come up). The taxes + insurance alone ...


6

I would emphasize what a terrible idea this is, but I'll just share some concerns: You said one of the members would be living in the home, which means this would be a long term deal. You didn't mention how long. Is this contribution to the down payment an interest free loan for potentially decades ? Would the repayment occur when you sell the home ? Over ...


6

This looks like a well known scam, at least in big cities in Spain. I have seen entries in serious platforms at least for Madrid and Barcelona. In this kind of scam the poster of the entry always is asking to send money to a foreign country, usually Italy or UK, claiming they are living abroad and they have to leave. They post a very nice apartment in a ...


5

You paid rent 12 times, in compliance with "Payment - In advance by equal payments on the 4th of every month" 2018-09-04, for the period 2018-09-04/2018-10-03 2018-10-04, for the period 2018-10-04/2018-11-03 2018-11-04, etc. 2018-12-04 2019-01-04 2019-02-04 2019-03-04 2019-04-04 2019-05-04 2019-06-04 2019-07-04 2019-08-04 Since you were extending a ...


4

This should be a good procedure: 1 Settle the renting Good advice would be not to cosign if you are not able to pay the whole rent. If you cosign the landlord can pick anyone of you and he has to pay him the whole rent. You then have to see how you are going to get the money from the others. Generally it is better for you if one is the main renter and the ...


4

The due date is the anniversary date (the 18th), or the first of the month, depending on what your agreement is with the landlord. Most people expect to have a grace period to cover honest oversights, bank glitches, etc. And it's expected that you're not going to rely on this grace period every month, or at least that it'll be out of your hands, e.g. Your ...


4

What jumps out to me as a red flag, is that they are acting like a bank. From what I understanding from your post, is that you would pay an extra ~400/month. They would "save" that money for you over a three year period that can be used for a down payment. There seems to be no benefit in doing this. Why would you just not do this in a bank account? What ...


4

I don't think people actually having these discussions are ignoring any of the alternatives to houses and apartments. What you might see are attempts to reduce a multivariate issue down to just two variables that you can nest the more complex issues in. We do that a lot in data analysis, with (pick your flavor) MDS/PCA/tSNE/SOM and so forth. No one is going ...


4

I found myself in this situation recently and bought the house, it had a lot of work that needed doing (still does). The masonry of the house are good and the joists etc are fine. The house is freehold. The benefits of doing this is: 1) You have somewhere to store your stuff. Don't underestimate the value of this. For me it allowed me to remove a lot of ...


4

That wording is ridiculous, but so is the idea of the due date being every 30 days from the start of your tenancy (March 18). Keeping track of the due date would be an unnecessary burden for both sides in the contract. For example, your next due dates would be April 17, May 17, June 16, and so on, until you get back to March, when it would be March 13, 2020. ...


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