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

Questions tagged [repayment]

For all situations involving paying money back to a borrowed source, such as a loan.

134 questions
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9 answers

What are the biggest pitfalls to avoid with student loans?

More often than not I read horror stories of people such as (I've Paid $18,000 To A $24,000 Student Loan, & I Still Owe $24,000) that acquire college debt, pay monthly for years, and end up owing the same or more than when they started. What is the…
MonkeyZeus
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8 answers

Friend sent me $6500 through his company and told me just to send it back

I started helping out my friend's business a couple of months ago as a part-time worker. He's been paying me hourly through square. Couple of days ago he told me that he'll be sending me $6500 from the company and just send it back to the company…
jake espinosa
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6 answers

Should I pay down my student debt early?

I just graduated university and started my first job. I have £50,000 in student loan debt at 6.1% interest. My monthly payment on this debt is £10 (direct from my paycheck). I can afford to pay £200 a month, but should I? I've heard that student…
Callum Maguire
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8 answers

Is 0% APR ever a bad idea?

I have recently purchased a few large items of furniture for my new home and paid a ~25% deposit on these. To pay off the remainder I can pay in full or pay monthly with a 0% APR payment plan. e.g I spent £2000 on furniture and put a £500 deposit…
Jsk
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28
votes
5 answers

What method do I use to pay current expenses while paying off credit card debt?

I’m hoping you can help me with a question that seems very hard to google for some reason. I have $20K in debt on 4 cards, and I have set up a plan to pay off the deferred card on time, and the highest interest after that while still paying minimums…
Chelsea
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26
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8 answers

To pay off a student loan, should I save up a lump sum payoff payment or pay extra each month?

I am a new college graduate with a student loan of $17k at 6.8% interest. The monthly minimum payment due is $193. I have been paying the minimum amount, and then taking that same amount and placing it into a savings account. My original idea was…
Mike M
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24
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5 answers

Options for paying for a nonreturnable leased vehicle

Late last year, my girlfriend's car was stolen and subsequently destroyed. This car was a leased vehicle. For reasons beyond her control‡, the insurance had lapsed a few months prior. The vehicle is due to be returned next month, and the finance…
Drise
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23
votes
9 answers

I'm unemployed. Should I pay off my credit cards to avoid monthly payments?

I'm unemployed and on a tight budget with 6 months of savings. Should I pay off my credit cards to avoid monthly payments even if it reduces half of my savings? Is there a risk of the bank reducing my credit limits after payment?
Daniel Harris
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23
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3 answers

Paying off student loans early/lump sum -- best practices?

My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest. We're both earning enough that we can no longer claim student loan interest…
internetproj
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21
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6 answers

Should I pay off my 50K of student loans as quickly as possible, or steadily? Why?

I was an idiot in college. I basically just used student loans and got very few grants. I also spent way too much time in there. I now have two bachelor's degrees and a master's degree. About 7 years of my life wasted and about 50K dollars in…
SoftwareSavant
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15
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5 answers

At what point should I begin paying off student loans?

I am attending a rather pricey American university, and most of my money for tuition comes from grants and loans. Grants are great, but obviously I have to pay off loans at some point. I have some money saved from various paid internships, and I…
jackwise
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15
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1 answer

$140,000 student debt. What are my options? Please help

As the title states, I am about to finish my PhD with $140,000 dollars worth of student debt. Assuming I even obtain my desired position—a university professor—my salary will be in the upper $40,000. Of course, my summer will be free for…
sac817
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15
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5 answers

What do you do when a family member won't pay you back?

What do you do when a family member won't pay you back?
user454
12
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1 answer

Myth, or not: If using a secured card to build credit, paying off in part each month has more benefit than paying in full?

Does paying off a secured credit card in full each month not allow me to build a credit history? I'm asking because reading about regular credit cards indicates that paying in full helps build a good score — but I was told at the bank that I should…
Teknophilia
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6 answers

Can I pay a 30 year fixed loan like a 15 year fixed loan?

I'm on a 30 year fixed loan with the following properties: 5% interest No penalty for early payments Pretty recent loan, hardly any equity I'd rather be on a 15 year fixed loan, so that I can pay less in interest, and get more equity sooner. I…
Eric
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