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Link
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Make Payments For Son's Car
My
son purchased a car for $15,000 at a high rate of interest. He's
been paying for 32 months and he still owes $11,000. He has just
been laid off and to top it off the car has blown the engine. I
would like to help him pay the loan off to keep his credit rating
but would like to negotiate the amount down. What are the chances?
Would he be better off to let it be repossessed? This would be to
nobody's advantage. Please advise.
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Amortized
Loans
I would like to know what the
formula is for an amortized loan. How exactly do they calculate each
payment? I suspect that all the interest for the loan term (i.e., 30
years, 15 years, etc.) is loaded up front in some way, but I would
like to know exactly HOW? I want to teach my teenagers about this. I
think it's very important for everyone to know.
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Which Credit Cards Look Better on
Your Credit Report
I have been told that certain credit cards (e.g. Capital
One, Cross Country, and others like those) do not carry a lot of
weight on your credit report. I was always under the impression that
all credit cards carried the same weight. What is the truth? |
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Helping
Daughter With Debt
Our daughter,
who is 31 and single, has $15,000 in credit card debt
that would we like to help her get out from under.
This debt consists of two different maxed out credit
card accounts that are both charging very high
interest rates, as well as late charges and over the
limit fees. We are considering refinancing our
mortgage, which currently has a balance of $47,000 and
a 5.75% rate. Is this a good solution or not? |
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Don't
Sell the Cattle!
I am a 53-year-old female with a husband that abuses credit cards. I
have sold 2 houses and taken out an equity loan to pay off credit
cards. Tell me how to talk to a man and tell him how stupid he is. I
have the only retirement account. He has some cattle. I just heard
you on the radio today about using credit cards to pay off the debt.
Maybe I could convince him of that... |
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Consolidating Credit Cards to One
Account
I am a recent college graduate and I have accumulated about
$4,000.00 worth of debt spread out in 4 different credit card
accounts. I would like to transfer all of the balances to an account
with a lower APR to save money and to make monthly payments more convenient. The
problem is that I have not been able to be approved for a credit
card with a limit of over $1500.00. Is there anything that you can recommend?
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Credit Card Balance Transfers
I would like to use a credit card introductory rate to pay off
a bank loan. I will need to borrow $13,000.00 credit to pay off the
loan. I have heard that if my credit
report shows too many credit card company requests within one year
that I will be turned down for new credit cards...
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What is Better? Fewer Cards with
Higher Balances, or Many Cards with Smaller Balances?
My husband and I are
preparing to buy a new home. We want to clean up our credit card
accounts to better our chances for a mortgage. We were considering
paying off our credit cards with smaller balances using other credit
cards. What is better when your credit is being considered for a
home loan--fewer credit cards with higher balances or more credit
cards with smaller balances?
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