How does a loan modification effect your income during tax time? Does the company write off the loss? December 31, 2009
Posted by Credit in : Renting & Real Estate , 3comments
John D asked:
When a company writes of part of a debt, it is then recorded as income to the IRS and you pay taxes on it. Does the loan modifcation work the same way?
When a company writes of part of a debt, it is then recorded as income to the IRS and you pay taxes on it. Does the loan modifcation work the same way?
How do student loan repayments by your employer work? December 30, 2009
Posted by Credit in : Financial Aid , add a comment
Andy S asked:
I recently graduated and I’ve heard some companies will offer “loan repayments”. Do I understand correctly that I don’t pay any taxes on this amount? Does it matter if its federal or private loans? Can anyone (employer) offer this type of incentive?
I recently graduated and I’ve heard some companies will offer “loan repayments”. Do I understand correctly that I don’t pay any taxes on this amount? Does it matter if its federal or private loans? Can anyone (employer) offer this type of incentive?
How fast is your credit score affected by changes in credit utilization? December 29, 2009
Posted by Credit in : Credit , 4comments
great_and_mighty_adam_levine asked:
Basically, how current is the credit agencies records?
Basically, how current is the credit agencies records?
Under normal conditions, my credit utilizaiton varies wildly.
When applying for credit, I generally want 10-20% credit utilization. I can make that happen, but I wanted to know:
How long after I make it 10-20% should I apply for credit?
How long do I need to hold my credit utilization at 10-20%?
How often does interest accumulate on an unsubsidized Stafford student loan from the government? December 29, 2009
Posted by Credit in : Financial Aid , 1 comment so far
Level T asked:
The interest rate on an unsubsidized Stafford student loan is 6.8%. How often does interest acculumate on such a loan? For example, if my loan is $5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your help.
The interest rate on an unsubsidized Stafford student loan is 6.8%. How often does interest acculumate on such a loan? For example, if my loan is $5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your help.
How does a creditor find your bank account? December 29, 2009
Posted by Credit in : Credit , 8comments
Kay A asked:
There was a levy placed on my current bank account by a bill collecting agency(credit-card debt) and I am stil owing. My dilienma is that I was laid off from my job and I cannot afford to pay right now. I want to file my taxes and have the funds go directly to my bank account. If I do open a new bank account and e-file, will the creditor be able to find my new account and place a levy on it? I would also like to know how they find it (bank account), and how long it usually takes.
There was a levy placed on my current bank account by a bill collecting agency(credit-card debt) and I am stil owing. My dilienma is that I was laid off from my job and I cannot afford to pay right now. I want to file my taxes and have the funds go directly to my bank account. If I do open a new bank account and e-file, will the creditor be able to find my new account and place a levy on it? I would also like to know how they find it (bank account), and how long it usually takes.
Thanks in advance!
Is being a bank teller at a drive-in a hard job to learn how to do? December 28, 2009
Posted by Credit in : Law & Legal , 2comments
Kaitlyn asked:
I am 17, and I put an application in to a bank in my town. I’m old enough to be a bank teller, and I’m going to be a senior in high school this fall. It would be a good job for me, because it would be part-time, and I really wouldn’t be working much on weekend or at all on holidays, and the hours are really good. But is this job going to be difficult to learn how to do? I’m aware that you deal with savings and checking accounts, and cashing checks, but can I handle it?
I am 17, and I put an application in to a bank in my town. I’m old enough to be a bank teller, and I’m going to be a senior in high school this fall. It would be a good job for me, because it would be part-time, and I really wouldn’t be working much on weekend or at all on holidays, and the hours are really good. But is this job going to be difficult to learn how to do? I’m aware that you deal with savings and checking accounts, and cashing checks, but can I handle it?
How bad will my credit report be affected if I open and close a credit card? December 28, 2009
Posted by Credit in : Credit , 1 comment so far
Moris asked:
When I go shopping, the store asks me if I want to save xx% off my purchase by signing up for a credit card. How bad will it affect my credit score if I sign up to get the discount. Pay it all off right away and canceling right after that? My first credit card received was in 2001 and I never plan on cancelling it.
How bad would it affect my credit score if I do it often?
When I go shopping, the store asks me if I want to save xx% off my purchase by signing up for a credit card. How bad will it affect my credit score if I sign up to get the discount. Pay it all off right away and canceling right after that? My first credit card received was in 2001 and I never plan on cancelling it.
How bad would it affect my credit score if I do it often?
How much is the interest rate for Personal Loan and Car loan in Dubai banks? December 28, 2009
Posted by Credit in : United Arab Emirates , 3comments
sandeep n asked:
How much is the interest rate for Personal Loan and Car loan in Dubai banks?
How much is the interest rate for Personal Loan and Car loan in Dubai banks?
What is the maximum available tenure for expats?
What is the best credit card for people with no credit? December 27, 2009
Posted by Credit in : Credit , 4comments
Taryn asked:
I am 18 years old, I have no credit history. I am looking for a credit card so I can build my cred history. What are the best credit cards for individuals like myself? Thank you!
I am 18 years old, I have no credit history. I am looking for a credit card so I can build my cred history. What are the best credit cards for individuals like myself? Thank you!
How to pay off credit cards enrolled in a debt management program? December 27, 2009
Posted by Credit in : Credit , add a comment
MiC asked:
I have been in a debt management program with a local credit counseling service for about 8 months. My parents have offered to co-sign a loan so I can pay off the cards. The loan with the bank is a lower interest rate than the cards and will pay them off faster with a lower payment each month. Should I pay the cards directly or go through the credit counseling service? Which is better for my credit score?
I have been in a debt management program with a local credit counseling service for about 8 months. My parents have offered to co-sign a loan so I can pay off the cards. The loan with the bank is a lower interest rate than the cards and will pay them off faster with a lower payment each month. Should I pay the cards directly or go through the credit counseling service? Which is better for my credit score?