Getting A Low-Interest Personal Loan
Personal loan is described as a simple and practical way to avoid being penniless during tough times. With it, you have access to quick cash since you need not put your property on the line. Even though it can only give you a little bit of cash, it’s still pretty good.
Categories: Loan Videos Tags: cash, give, Personal Loan, property
Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time
Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time
Reduce your debts, save your property — and start over!
If you’re considering bankruptcy, your resources are undoubtedly already stretched thin. Use the plain-English information and instructions in Nolo’s Chapter 13 Bankruptcy to help you use your income to repay your debts over time and keep valuable property from going to your creditors.
And now you can avoid attorney fees and do it yourself — let Nolo’s Chapter 13 Bankruptcy show you how to:
– determine whether you qualify for Chapter 13
– stop a house foreclosure
– estimate monthly payments
– devise an acceptable repayment plan
– complete and file forms
– make up missed mortgage payments
– pay off other debts
– represent yourself before a bankruptcy judge or trusteeThis edition includes recent court decisions interpreting federal bankruptcy law, the latest changes to official forms and dollar amounts, as well as the latest bankruptcy exemption laws of your state. Plus, you can start your bankruptcy filing right away with up-to-date legal documents and all the instructions you need to fill them out.
– stop a house foreclosure
– estimate monthly payments
– devise an acceptable repayment plan
– complete and file forms
– make up missed mortgage payments
– pay off other debts
– represent yourself before a bankruptcy judge or trusteeThis edition includes recent court decisions interpreting federal bankruptcy law, the latest changes to official forms and dollar amounts, as well as the latest bankruptcy exemption laws of your state. Plus, you can start your bankruptcy filing right away with up-to-date legal documents and all the instructions you need to fill them out.
Whether you work with a lawyer or file on your own, you’ll find everything you need to take charge of your debts in Chapter 13 Bankruptcy.
Please note: This book does not cover business bankruptcies, farm reorganizations, or Chapter 7 personal bankruptcy. For Chapter 7 bankruptcy, see Nolo’s How to File for Chapter 7 Bankruptcy. If you own your own business and are considering Chapter 7 bankruptcy, see Nolo’s Bankruptcy for Small Business Owners.
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Categories: Loan Products Tags: Bankruptcy, Chapter, Debt's, Keep, over, property, repay, Time
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.
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Categories: Loan Questions Tags: deductible, interest, loan, Personal, property