Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [personal-loan]

To be used for questions on loans that do not require any security. Can also be used for questions involving borrowing from friends and family. Please add country tag

To be used for questions on loans that do not require any security. Can also be used for questions involving borrowing from friends and family. Please add country tag

134 questions
57
votes
8 answers

Can I become debt free or should I file for bankruptcy? How do I manage my debt and finances?

I am 35 years old, single, and live in the US. My income is 78K to 80K after taxes and insurance. I pay $1,500 for rent+utilities, $150 for phone bill, $450 for auto loan, $300 for auto insurance (for two people; I am helping a friend who can't pay…
The Guest
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40
votes
4 answers

I am considering leasing a new car for my ex-wife. What can go wrong?

My ex-wife is a financial wreck and is about to lose her car (lease is over) in an area of the country where you can't get around without one. She can't get a new one because her credit is really bad (bankruptcy, 2 evictions, home foreclosure,…
NeedAdvice
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29
votes
12 answers

How can I legally and efficiently help my girlfriend build equity by helping with a mortgage?

I am in a committed relationship -- but for various reasons don't want to get married. I just bought my first apartment for $200,000 on a 30 year mortgage. My girlfriend will be living with me but her name is not on the mortgage. We are trying to…
bernie2436
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18
votes
7 answers

3% personal loan online. Is this a scam?

Individual offering a 3% loan, any amount, any length of repay time. Requires no collateral, no signature, everything done online. Information I'm required to supply: Name Country City Address Gender Age Marital status Monthly income Name of your…
Michael Hopkins
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16
votes
1 answer

How to handle a parent going through divorce asking to borrow money

Asking for a friend. The parents are currently going through a divorce and one parent is struggling a bit financially to pay for lawyer fees for example and needs to borrow money. The problem is that the one parent has asked for money previously,…
Uberswe
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16
votes
10 answers

Fair interest rate on $2k personal loan to a friend

A friend wanted to borrow $2,000 from me and he promised that he would pay it back in a month. I'm about to lend him the money. How much interest should I charge that would be fair? I am not expert on lending money, especially with this amount.
scorpio012
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15
votes
4 answers

How much interest should I pay on a loan from a friend?

I borrowed 500.00 from a friend, several years ago, and want to repay him. Although the subject hasn't come up, it has always bothered me. What kind of interest should I apply to this personal loan?
user49469
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15
votes
2 answers

Is it possible to get one loan for four different (but closely related) purchases?

I'm a pilot. I'm considering maybe possibly building my own airplane from a kit. The problem is that the airframe, engine, propeller, and avionics all come from different suppliers. I don't want to have four different loans, with four times the…
HiddenWindshield
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15
votes
2 answers

Father wants to gift child with approx $200k. Smartest way from USA tax perspective?

The father would like to find the best way to help his (~40 year old) daughter with approximately $200k in home loans. Without (yet) seeking professional advice, he has loosely considered: Gifting her the money. Loaning her the money at 2%…
quux
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13
votes
4 answers

In which situations is it better to consider a loan instead of paying cash?

I live in France where credit cards are less widespread than in the U.S. The default account for us is a checking account. Often you can't spend more than what is in your account; otherwise you have to pay the money back with a huge interest (16%…
Octoplus
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12
votes
3 answers

Can I take personal loan in UK and send the proceeds to parents abroad?

I am an EU citizen and have been working many years in UK. I don't have any debts, but do possess a good credit score thanks to using a credit card all that time. My parents are thinking of buying a house (in their home EU country), they have most…
user47045
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12
votes
6 answers

Tips/strategies to managing my debt

I'm currently a 22 year old who's trying to get my debt in order. I currently hold a full time job making roughly 66k a year however I feel like nearly every paycheck I have goes to debt. I also have a second job but it's more of a church job. I…
sarxlives
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9
votes
1 answer

Would it be wise to add a person to the Title of my property to obtain a loan?

An friend acquaintance of mine is willing to lend me $10,000 at 15% if I will put her on Title to my property as collateral. I will pay nothing back until I sell my property. What are the risks in doing this?
catherine murphy
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9
votes
3 answers

Can I charge interest on money that I have lent out, even though I am not a financial institution?

On the news a couple of years ago, in BC, they said that if you are NOT an financial institution, it was illegal to charge interest on any money that you have lent out. Now I live in Alberta. And apparently this is ok in Alberta. Is this true? Would…
Angela Stark
9
votes
4 answers

Should I get a personal loan to pay on my mortgage to go "above water" to qualify for a refinance?

I purchased my primary residence in 2007. The rate was 5.99% on a 30 year fixed. Rates have dropped dramatically since then, but so have home prices. I wanted to refinance a while back, but it looked like the lender was going to require an…
Derek
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