It’s Payback Time
Loaning money comes but natural to most people in the world these days. They do this for so many varied reasons. Because of that, there has also been a rampant increase in companies and agencies that provide these services to the people in need. It opened doors for a profitable business as well as reached out a helping hand to those who calls for help. But what if there comes a time when you have to settle those accounts and pay your loan. And what if that time says as soon as possible. What can you do?
If you find your place trapped in a position where you cannot escape the fact that you have to pay your personal loan, there are some techniques you can try in order to save yourself from getting rotten in that debt.
One, you can turn your assets into money. And by assets, this would include jewelries, bank accounts, company shares, life insurance policies, lands, cars, houses and everything else that is worth the money. These things could have a sentimental value for you but they could also mean paying back your debt. This would fit as a bright idea since a lot of banks out there tender loan against assets. Moreover, these kinds of loans happen to have lower interest rates thus giving you higher chances of settling your payments.
Two, debt consolidation. This means that all the present debts of a customer are summed up and placed under a single loan. This method is supervised by a consolidation agency. That agency will now pay off all your existing loans. All you have to do is to pay that agency. It may seem like paying the same amount of money. Yes it is but you are given the chance to have lower interest rates.
Three, evaluate other choices available in the financial market. One excellent way to get funds to pay your debt is from a bank where your salary is credited given you are employed. In that way, the bank is well aware of your record, they monitor your deposits and withdrawals thus making you transparent to them. If you are self employed however, you can still opt to make deals with the bank where you handle you business transactions with.
Having debt is one thing. Being buried in debt is another thing. Explore the techniques laid down in front of you so that in no time, you will be free from all those obligations.
Categories: Loan Articles Tags: loan, Personal, Personal Installment Loans, Repayment
Personal Financial Planning (Available Titles Coursemate)
Personal Financial Planning (Available Titles Coursemate)
In the midst of today’s shifting financial environment and fast-paced, changing lives, solid financial planning is more important than ever. Gitman/Joehnk/Billingsley’s market-leading PERSONAL FINANCIAL PLANNING, 12E provides your students with the tools, techniques, and understanding they need to define and achieve their financial goals. The book follows a life-cycle approach — addressing financial plans, assets, credit, insurance, investment, and retirement — as individuals and families progress through a lifetime. The latest updates throughout this edition reflect the most recent financial developments and research — from new tax laws to professional financial advice that considers the impact of the recent global financial crisis. This edition’s inviting new design incorporates opening vignettes, cases, and numerous examples from life as well as a proven, integrated learning system to ensure understanding. Step-by-step features teach students to use today’s most critical financial tools and technology, including financial planning software. CFP practice questions provide valuable practice. A complete support package, including CengageNOW online course management system, helps you put the best in personal financial planning in your students’ hands.
List Price: $ 214.95
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Categories: Loan Products Tags: Available, Coursemate, Financial, Personal, Planning, Titles
What is your opinion on cash advances? & is personal cash advance a trustworthy site?
Question by Me: What is your opinion on cash advances? & is personal cash advance a trustworthy site?
I’m looking to take out a cash advancement here in a few weeks if I get the new job I’m hoping for which would mean I would have to relocate and I don’t have the money for that right now. I’m looking to take out a cash advance loan until I get my first check at the new job. What have your experiences with these types of services been, and do you think it’s a good idea? Thanks.
Best answer:
Answer by NaturesDoctor
No, no, no, no – If you have a credit card you may be able to get a cash advance, you say if you get the new job. It is easier after you have the new job to take out the advance.
Add your own answer in the comments!
Categories: Loan Questions Tags: Advance, advances, cash, opinion, Personal, site, trustworthy
What will happen to unsecured personal loan if i file bankruptcy? Will it stay or disappear?
Question by Pozko: What will happen to unsecured personal loan if i file bankruptcy? Will it stay or disappear?
I am not sure if i file for bankruptcy or not? I have about 20,000$ credit cards debts, and i have also 20,000 unsecured personal loan.
Best answer:
Answer by sfuller94
To be a candidate for Bankruptcy, your debts need to exceed your assets by a certain amount. It varies with each state. But, just because you declare bankruptcy, does not mean your debts disappear.
The courts can mandate a payment plan that you must follow. Remember that bankruptcy may stop the bill collectors from calling but it’s not without cost. A bankruptcy will stay on your credit for around 10 years.
What do you think? Answer below!
Categories: Loan Questions Tags: Bankruptcy, disapear, file, happen, loan, Personal, stay, unsercured
How to Legally Settle Your Personal and Credit Card Debt for Pennies on the Dollar: Without Filing Bankruptcy
How to Legally Settle Your Personal and Credit Card Debt for Pennies on the Dollar: Without Filing Bankruptcy
The current economic climate is dim for many Americans it forecasts potential recession, trouble for homeowners, and increasing personal and credit card debt. According to Federal Reserve estimates, that credit card debt is already in the trillions of dollars and rising each year. So, what can you do about it without immediately resorting to bankruptcy eliminating the entirety of your finances for years to come? It s a tough question to answer and one that many are faced with regularly, but there are ways to handle these debts legally without reaching for the extreme, final measure that we all dread so much. This book was written to provide every individual who is standing at the precipice of too much debt with the tools they need to settle that debt legally without ruining themselves forever. You will learn everything you need to know about the basics of debt, including what the various kinds secured, unsecured, personal, business, and tax debt entail and how they affect you. You will learn what happens to you when you don t pay, both legally and socially, and what your first steps should be on the road to repairing your debt. You will learn how to assess your overall risks and what your options are with your creditors. You will learn what vulnerabilities your debt collectors have legally and what you can do to legally challenge the validity of your debt. You will learn how to deal with bill collectors and how to create a line of communication that is two ways and not reliant solely on them making demands. Top financial experts, bill collectors, and one-time debt owers have been contacted and interviewed for this book and their interviews have been included here to provide a complete outline of what you can expect when you try to settle your debt. You will learn how to start negotiating settlements with your creditors and what specific things you can and cannot do when dealing with them. You will learn the variety of debtor s rights that exist and why they are never told to you, including details about the Fair Debt Collection Practices Act and how this act is legally enforced. For anyone who has ever spent the better part of their life dodging calls from creditors or trying to figure out how to pay those bills next month, this book will be the tool you need to understand how to tackle and deal with your debt.
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Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today! Reviews
Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today!
This completely revised and updated edition also includes an appendix of living expenses in twenty selected U.S. cities. Consumers can take financial control away from their creditors and put it back into their own hands–and start living debt-free today!
List Price: $ 8.95
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Q&A: Can personal loan interest be tax deductible if you use the loan to buy property?
Question by gabyrig: Can personal loan interest be tax deductible if you use the loan to buy property?
If you get a conventional mortgage, your interest is tax deductible. If I take out a personal loan to buy my primary residence, can I deduct interest from that personal loan when I file my taxes?
Thanks.
Best answer:
Answer by bostonianinmo
No, you cannot deduct it, at least not for a personal residence. To be deductible the property must secure the payment of the loan. A personal loan fails that test as there is no security other than your signature on a personal loan.
Now, if you’re buying the property for investment purposes the rules change. You are allowed to deduct interest on a loan for an investment, limited to the profit that you make on the investment. If it’s a buy and hold purchase, you may deduct the interest paid when you sell the property fora profit, limited to the profit that you made. This is one of those cases in the Tax Code where an expense is carried to future years as opposed to being used in the year that the expense was incurred.
Give your answer to this question below!
Categories: Loan Questions Tags: deductible, interest, loan, Personal, property
Is a loss from a personal loan the same tax category as a loss from stock investments?
Question by Jan R: Is a loss from a personal loan the same tax category as a loss from stock investments?
I loaned a friend some money several years ago to help start a business, and the business failed and I was not repaid for the loan. I also, the same year, had losses from other investments (in the stock market). My understanding is that I can only deduct $ 3000 in investment losses for that year. Is the personal loan in the same category as the other investments — in other words, does it count as part of the $ 3000 limit? Or is there a way I can claim that loss separately? Thanks!
Best answer:
Answer by v b
You cannot claim the loss separately.
You must prove you had a non-business bad debt (actual loan agreement, not some iffy thing as in if he made money, he’d pay you back; show you tried to get repaid; why it’s worthless, etc).
Give your answer to this question below!
Categories: Loan Questions Tags: category, from, investments, loan, loss, Personal, Same, Stock