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Personal Finance

Financial planning for individuals and families including budgeting, credit management and investing

Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

How can you pay off your student loan if you live overseas?

Hey, Why dont you go for FAFSA assistance.. they provide good guidance in regards to federal student loan and are legit as well. One of my friend studying at http://www.northclevelandhighschool.com/ applied for loan through their online process and was able to pay it off on time due to the proper guidance they provided him... https://studentaid.ed.gov/sites/default/files/international-students.pdf you can read this out as well for more help. ...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Scholarships, Money Management

If you have little or no credit history can you get a student loan without a co-signer?

* There really is no private lender that will approve you without credit history or a co-signer. The only sure thing is to get a credit card and use it responsibly for a year or two. That is, until the government cleans up it's federal aid system so it works for everyone. * It depends that how good you are in your education how efficient enough you can proof your self to get a loan of any type. Federal students loan...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

How long before outstanding student loans are forgiven?

It doesn't matter how long you had the loan, you have to pay it back unless you are disabled, a teacher in low-income schools, part of the peace corps, or the school forged your signature. If you have a federal direct student loan you can go on an income-contingent plan that will forgive loans after 25 years in repayment. 25 years is the max---Never default on the loan.Many payment plans out there.Once you default you can never arrange and special payment plans Thanks Casey...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Credit Reports, Money Management, Credit

Do student loans show up on your credit report?

yes, the private or federally guaranteed student loans will show up on your credit report. If you are delinquent or in default on your loans, you can get help with consolidating the loans at www.defaultms.com The loans will show up on your credit report, even if they are still designated as deferred. You will not owe anything until roughly 6 months after you graduate, and the loan status will change to active once repayment begins. ...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

How can you protect yourself from wage garnishment for a student loan already paid off?

Provide proof you already paid the loan in full. That means front/back copy of canceled check or paid in full letter from the loan holder. ...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

If several loans are in default how can you find out who holds the loans and is there a phone number to call?

A consolidation loan will allow you to get an income sensitive payment that will fit your budget, or you can file for deferment or forbearance. CALL THE DEPARTMENT OF EDUCATIONS LOAN FINDER LINE. THE NUMBER IS 800 621 3115 If they are federal student loans, you can also check the National Student Loan Database (nslds.ed.gov) which is the government's central database of student aid. If you have private student loans, there is no central place that tracks these. Best idea is to check your...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

If you have frightening credit can you still qualify for a student loan?

Eligibility for Federal Stafford loans are not based on your credit so yes, it is possible to get a student loan even with "frightening" credit. The exception to that is if you have previously defaulted or are significantly past due on a previous student loan. Even in this case, there are options to clear this up pretty quickly, so you may continue your schooling. Finally, most private student loans are credit-based so for those, you will at the very least need a...
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Asked in Personal Finance, Credit Reports, Money Management, Credit

What is the Fair Credit Reporting Act?

Fair Credit Reporting Act The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission, is designed to promote accuracy and ensure the privacy of the information used in consumer credit reports. Recent amendments to the Act expand your rights and place additional requirements on credit reporting agencies (CRAs). Businesses that supply information about you to CRAs and those that use consumer reports also have new responsibilities under the law. Here are some questions consumers commonly ask about consumer reports and CRAs, and their friendus:...
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Asked in Personal Finance, Credit Reports, Money Management, Credit

What is a credit report?

Credit Report - If you've ever applied for a credit card, loan, insurance, or a job, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a credit report. Banks and other companies use your...
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Asked in Personal Finance, Loans, Personal and Payday Loans, Money Management

Can you extend your payday loan?

Yes, depending on which state you live in. For most states, payday lenders have put into place mechanisms to extend loans up to the maximum number of times the state allows. When extending a payday loan, keep in mind that you will pay an extension fee (which will be the same as the origination/application fee) that you paid when getting the payday loan in the first place. ...
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Asked in Personal Finance, Debt and Bankruptcy, Loans, Co-signing, Bankruptcy Law, Money Management

Can you cosign a car loan if you filed for bankruptcy?

If you can find a lender who will accept your signature, sure. Unlikely.
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

Can a bankruptcy be opened to include a student loan if the loan wasn't in default at that time?

It would be a waste of time and money. The higher education amendment act made student loans non dischargable in Banruptcy Court. You would have to prove a major financial hardship to have it considered. It's next to impossible. A consolidation loan will allow you to get an income sensitive payment that will fit your budget, or you can file for deferment or forbearance....
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

Can a car that you own be repossessed for college loan payments that you owe?

Any assets you own, including cars, can be seized if they win a judgment against you in court. Since they can garnish wages and offset tax returns without taking you to court, those are the most common methods of collecting. No, they cannot take your car for college loan payments. They can, however, potentially have money taken directly from your pay and/or garnish your tax refunds. Your best bet is to try and resolve your account with the loan company. If you...
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Asked in Personal Finance, Loans, Student Loans and Financial Aid, Money Management

Why can't a Perkins Loan be collected through administrative wage withholding?

BECAUSE THEY ARE NOT TITLE IV FEDERAL DEBT - THEY FALL UNDER TITLE XV. SOME STATES WILL INTERCEPT STATE TAXES FOR PERKINS LOANS- BUT FEDERAL TAXES CANNOT BE SIEZED. THEY ARE THE SAME IN THAT THERE IS NO STATUTE OF LIMITATIONS. Edit to add: the University that holds the Perkins loan can assign it to the US Department of Education for collection after default. Once assigned to ED, the loan is a Title IV Debt and can be collected by administrative wage...
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Asked in Personal Finance, Business Accounting and Bookkeeping, Budgeting and Forecasting

What are fixed expenses?

Fixed expenses include rent or mortgage payments, depreciation on fixed assets (such as cars and office equipment), salaries and associated payroll costs, liability and other insurance, utilities, membership dues and subscriptions(which can sometimes be affected by sales volume), and legal and accounting costs. These expenses don't change, regardless of whether a company's revenue goes up or down. ...
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Asked in Personal Finance, Home Equity and Refinancing, Money Management

Can you waive the three day rescission period when you refinance your loan with the same creditor who holds your loan and you do not borrow any additional funds?

The law varies from location to location. However, in practice: why on Earth would you want to? A recsission period allows you to void the contract, it doesn't require you to; in terms of net effect, the difference between waiving the rescission period and simply not using it is nil. If you've already agreed to waive a rescission period and are now wondering if you can still get out of the contract ... contact a lawyer in your area. ...
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Asked in Personal Finance, Companies, Home-Based Businesses

Is Automatic Wealth Solution a scam or not?

"Automatic Wealth Solution" kind of says it all. It's a scam. If one had an "Automatic" solution they'd not need to advertise to you, or ask you for money. Money represents human labor, and other things of intrinsic worth that one way or another represent human labor. There is never anything "automatic" about that. ...
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Asked in Personal Finance, Loans, Money Management

How can your loans be forgiven if they are in default and you are disabled?

https://www.acs-education.com/bac/FFEL/DefermentQualifications.HTML#Disability There is a Temporary Disability Deferment Request form that you would need to fill out and have a physician sign. This form is available at the URL above. I was in college in 1999. I became disabled with Reflex Sympathatic Distrophy and could not continue school. I am receiving SSI. I filed the papers for the loans(4000) to be forgiven. My doctor filled out his portion. I sent it in and thought that was the end of it. Now every year I...
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Asked in Personal Finance, Salary and Pay Rates, Ducks, Milwaukee

Who is the richest person in the world 2007?

Answer Carlos Slim is the richest man in the world as of the end of 2007. He is worth $67.8 billion making him $8.6 billion wealthier than Bill Gates. Carlos Slim is a Mexican businessman who controls the largest cell phone operator in Latin America, America Movil. Slim and Gates have been neck and neck for awhile until there was a surge in the share price of America Movil this year. Answer No if you're thinking bill gates he isn't. The world's richest person...
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Asked in Auto Loans and Financing, Personal Finance, Loans, Banking, Small Business Loans, Money Management

What does the loan department do in a bank?

The Loans department of a bank does the following: 1. Process loan applications from customers 2. Finalize interest rates for loans 3. Approve/Reject & Disburse Loans 4. Monitor Status of Loans 5. Process repayments and identify troubled loans 6. Etc. ...
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Asked in Personal Finance, Nigeria, Famous People, Business Magnates

Who is the richest pastor in the world?

The richest Pastor in the world is the President and Founder of the world's largest Church Building according to the 2008 Guiness Book of Records - Bishop David O.Oyedepo of the Living Faith Church, A.K.A. Winners Chapel, Canaanland, Ota, Nigeria. ...
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Asked in Personal Finance, Loans, Money Management, Credit

What are the 5Cs of credit?

5 C's of Credit refer to the factors that lenders of money evaluate to determine credit worthiness of a borrower. They are the following: 1. Borrower's CHARACTER 2. Borrower's CAPACITY to repay the loan 3. COLLATERAL or security/guarantee for the obligation 4. Borrower's CAPITAL (business networth) or downpayment for the loan 5. Present and anticipated CONDITIONS of the borrower, collateral, business, and the industry or economy in general ...
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