| Subject | Date Asked |
|
| Operating Capital | 11/10/2009 |
Q: Finance Guy, I have just started a business that is based on my 30 years experience in this ...
A: Go back to your customers and ask if thye believe banks have been more restrictive lately... Of ...
|
| car loan | 11/3/2009 |
Q: i got a loan on my car when i was in GA state and bought a second car at the same state from the ...
A: Wow, who IS this finance company? First, transferring an account from one state to another should ...
|
| Help? | 9/2/2009 |
Q: Not sure I have the correct area of expertise? We are hoping to open a free community service and ...
A: First, let me say that I appreciate you willingness to get involved and do something positive for ...
|
| commercial financing | 8/26/2009 |
Q: question how to figure out if usury interest has been charged? Rhode Island law.principle amount ...
A: It is actually a great question... I am surprised that more borrowers do not question their ...
|
| Trying to attain a personal loan | 8/6/2009 |
Q: I am a 19 year old male trying to acquire a $5,000 personal loan. I believe I am in great financial ...
A: You sound like a very credit worthy young man and have a great credit score. You should qualify for ...
|
| Buy a business financing | 6/11/2009 |
Q: I'm looking to purchase an established fast food restuarant. It has been in business at the location ...
A: With your recent BK and resultant credit scores, the bank will certainly say no. But ask for seller ...
|
| Grant for Small business | 4/30/2009 |
Q: I am working on a business plan, where this specific business would help the economy and interests ...
A: It is possible to receive a grant or an SBA loan, depending on the business plan, pro forma, your ...
|
| My Start Up | 4/1/2009 |
Q: I am currently writing up a business plan for a small start up business. I am a massage therapist ...
A: Barry, The scope of your question is too broad for a full discussion here. You should talk to the ...
|
| Buying A Coffee Shop | 3/26/2009 |
Q: The business is in a leased space and it is for the business and property that they own in the ...
A: Here is an idea... Consider why Starbucks is closing 1,000 coffee shops... Consider why this on ...
|
| loan pay-off | 3/24/2009 |
Q: I have a loan balance of $680,000. Payments are twice per year with 2.5 years (5 payments) ...
A: Myself, I would stay liquid and keep the note outstanding. 4.25% is a good rate. There are ...
|
| Second home not investment home | 3/8/2009 |
Q: My husband and I got "stuck" with a second home which we purchased to move into. We have a mortgage ...
A: Nancy, So sorry to hear of your and your husband's situation. Before I can offer anything, I need ...
|
| How to get out of an equipment lease | 3/3/2009 |
Q: I leased equipment and I am finding that it is not making me the money I hoped it would and I can't ...
A: I am sorry to hear about your situation. Usually a lease is non-cancellable. Your lease probably ...
|
| Early payoff for car loan | 1/12/2009 |
Q: If I pay my car off early - 3 years, should I get some discount on the interest not used - like a ...
A: In theory, yes. However, it depends on your finance contract. An easy way to determine this is to ...
|
| frontloading interest | 1/7/2009 |
Q: We borrowed from a credit oompany to pay for semi truck liability insurance, it was for 10 months @ ...
A: Front loading or Rule of 78ths is a dirty little secret of many shady credit companies. However, ...
|
| Wedding Loans | 1/5/2009 |
Q: I am 19 and my fiance is 20, neither of us have a credit score and we would like to begin planning ...
A: Medical school is actually a good thing, banks loan to med students based on potential earnings ...
|
| Used car loan with 683 fico score.... | 1/5/2009 |
Q: I totaled my work car recently and I need to buy a car. My credit score is 683. The catch is that I ...
A: Car dealers are desperate to sell cars now. You have a decent credit rating, certainly enough for a ...
|
| resolving vehicle financeing issues | 1/4/2009 |
Q: I was involved in a hit run accident 3-18-08 in which was not my fault, my car was a total loss, ...
A: My neighbor owns an insurance agency and I took your issue to him to get some additional insight. ...
|
| Used car loan with 683 fico score.... | 1/3/2009 |
Q: I totaled my work car recently and I need to buy a car. My credit score is 683. The catch is that I ...
A: I am sorry, I thought I sent your answer yesterday, but I guess it did not go through. Car dealers ...
|
| resolving vehicle financeing issues | 1/3/2009 |
Q: I was involved in a hit run accident 3-18-08 in which was not my fault, my car was a total loss, ...
A: OK, sounds like you are in a no-win situation. So at least cut your losses. Hire a tow truck and ...
|
| international financing | 1/2/2009 |
Q: who and where can i find international equity or debt financing? i have several resort projects, in ...
A: As you have probably found, this type of financing is extremely difficult to find right now. I ...
|
| Car loan | 12/21/2008 |
Q: I took out a car loan for 11000 in September of 2006 for 43 months. I recentlty called to see why I ...
A: From the info you gave me, the interest rate calculates to be 31.85%!!! Was this a buy here, pay ...
|
| MTN purchasing | 12/9/2008 |
Q: Good evening. I have and opportunity to purchase MTN for a source that claims to be a platform ...
A: This is a surprisingly frequent question that I receive. In my experience, I have never, let me ...
|
| Social club | 11/29/2008 |
Q: Could you please give me at least some direction when it comes to some kind a Social club for I ...
A: Social Networks: Virtual Organize It, Stupid! announcement posted 11/25/2008, 12:00 a.m. by Pierre ...
|
| financial institution | 11/28/2008 |
Q: i was in a accident on the date Oct 13, 2008 at 3:00 -4:00 that it was not my fault and i was ...
A: Start calling local Civil Liberty Union people, consumer advocacy groups, consumer protection ...
|
| breaking contract | 11/21/2008 |
Q: I have a payday loan in AZ. My contract clearly states due on 11/29/o8. Well this company deposited ...
A: Pay day loan companies in my opinion are the closest thing you can get to a loan shark. Don't do ...
|
| Pay day loans | 11/13/2008 |
Q: I just saw on Court TV....where the law of Usery, was for the lenders who charge upwards of 250% ...
A: Debbie, Usuary used to be considered anything above 20 to 30%. However, the pay day loan crooks ...
|
| Consolidating Private Student Loans | 11/3/2008 |
Q: Good morning. My son has 2 private student loans - both for $17,000 each; one is at an interest ...
A: Wow, Lynn. It comes down to a guess on the direction of interest rates. I personally believe that ...
|
| BoA business loan | 10/30/2008 |
Q: I just got off the phone with BoA about the bad business loan i was given. i opened up a business ...
A: John, So sorry to hear about your situation. A lot of good people have gotten caught up in this ...
|
| BoA business loan | 10/30/2008 |
Q: I just got off the phone with BoA about the bad business loan i was given. i opened up a business ...
A: John, What a horror story. I am sorry to hear about your experience with them. Yeah, you probably ...
|
| car loan payments and statement | 10/24/2008 |
Q: I purchased a car thought a car dealer. I have been making payments on my car but I have not ...
A: You need to go into the dealer and demand an accounting of your payments, your original balance, ...
|
| Add-on Interest APR | 10/21/2008 |
Q: What is the FORMULA for calculating what the APR is on an add-on interest loan? ANSWER: A method of ...
A: Annual Percentage Rate (APR) is a way to compare the costs of a loan. Although it’s not perfect, it ...
|
| Add-on Interest APR | 10/21/2008 |
Q: What is the FORMULA for calculating what the APR is on an add-on interest loan?
A: A method of calculating interest whereby the interest payable is determined at the beginning of a ...
|
| Co-signing Student Loan | 10/14/2008 |
Q: In this economic crisis, what do you think my chances are in co-signing on a student loan for my ...
A: Wow, sounds like a great kid, you sound like a terrrific mother, and your situation seems to suggest ...
|
| Co-signing Student Loan | 10/13/2008 |
Q: In this economic crisis, what do you think my chances are in co-signing on a student loan for my ...
A: The answer to a solution for your family's financial crisis is NOT to sign up for more debt. Here ...
|
| large business loan | 10/10/2008 |
Q: So I was thinking of starting a upscale cigar shop with a lounge. I have not done a detailed budget ...
A: Look, a cigar bar could be successful. So go for it... I give it a 15% chance of success. But why ...
|
| large business loan | 10/10/2008 |
Q: So I was thinking of starting a upscale cigar shop with a lounge. I have not done a detailed budget ...
A: OK. If your story is acurate... Forget about the cigar shop. In this economy, are you serious? ...
|
| payday loans | 9/29/2008 |
Q: ok,I used one payday loan co. and got the loan the problem is I also got 4 other loans from other ...
A: I wish everyone would read your email!!! I have warned people several times: DO NOT USE PAYDAY ...
|
| Judgement against me for Home Equity Loan | 9/28/2008 |
Q: In my divorce agreement, I took over the 1st mortgage and kept the home. My ex and I are to equally ...
A: I am saddened to hear about your situation. As I am not an attorney, I really do not know whether ...
|
| The Laws of Usery | 9/27/2008 |
Q: (name). Is it legal for the Banks & Credit card companies to calculate a customers monthly finance ...
A: OK, typically banks use (assume) a 360 day calendar. I know, actual days in a calendar year are 365 ...
|
| The Laws of Usery | 9/26/2008 |
Q: (name). Is it legal for the Banks & Credit card companies to calculate a customers monthly finance ...
A: Yes, the daily periodic rate is simply the daily equivalent of the annualized interest rate. ...
|
| currency | 9/26/2008 |
Q: I don't have a economics background. But I'm interested in understanding economics concepts. ...
A: Q. "How much currency can a government make available to its subjects?" A. As much as possible, ...
|
| Auto Loan | 9/23/2008 |
Q: my son took out an auto loan with Carfinco while living in Alberta. He moved back to Ontario and ...
A: This is outrageous and one of the worst consumer financial abuses of which I have heard. I am not ...
|
| business loan | 9/22/2008 |
Q: I own a perfume business in a mall, its exatly 1 1/2 year old. My dad, my brother and me are ...
A: Ken, It is good that your D&B score is solid, but the banks will place more measure in your credits ...
|
| LLC & loans | 9/17/2008 |
Q: I have an LLC with a partner, I took out loans via cash advances on credit cards to pay bills (I ...
A: You will need to talk to an attorney, but in my opinion, it depends on what you and your partners ...
|
| Auto Loan Payoff without Repossession | 9/16/2008 |
Q: My question involves a loan I had taken out to buy an SUV at a local Chev. dealer. I was the only ...
A: This is quite unusual! Curious if the amount of the last payment was a balloon payment or simply a ...
|
| Factoring/Account Receivable Financing for small business. | 9/3/2008 |
Q: Finance Guy, Hi there! I am wondering if you can tell me how to go about finding a reputable ...
A: Reputation is in the eye of the customer. A lot of horror stories out there about over charges, ...
|
| Business Math | 8/25/2008 |
Q: I understand there is a difference between (ordinary interest) and (exact interest), but I don't ...
A: As you can probably understand, we are not allowed to solve homework problems for people, but the ...
|
| CFA vs MFin | 8/21/2008 |
Q: Actually, what is the difference between CFA and Master in Finance (MFin) in terms of financial ...
A: You did not say what your undergrad was in. Assuming it was a generic business degree, I think I ...
|
| Which loan to pay off first? | 8/10/2008 |
Q: I just acquired $20K for selling my business. I graduate college in 1 year. I'm paying for college ...
A: The first rule of giving advice is similar to the Hippocratic oath, "first do no harm". I would ...
|
| Payoff for Auto Loan | 8/5/2008 |
Q: Our non-profit agency purchased two handicapped vans to transport disabled persons. We are closing ...
A: This is outrageous, even for finance companies who are notorious for low standards of ethics. ...
|
| Motorcycle Finance | 8/3/2008 |
Q: Ok so I applied for this loan once 6 months ago at my CU and was denied (it was for 6500 dollars), ...
A: Unless you are buying the bike from a very motivated buyer and are sure you can seel it in a year at ...
|
| Motorcycle Finance | 8/3/2008 |
Q: Ok so I applied for this loan once 6 months ago at my CU and was denied (it was for 6500 dollars), ...
A: You might be. Actually, for your sake I hope you are not. You have only had your job for 3 months, ...
|
| Personal loan | 8/2/2008 |
Q: Alright, we got a personal loan in 2007. This is the figures. Annual Percentage Rate 36.39%. ...
A: Debbie, I really can't. You have too many variables here. I took it as far as the first ...
|
| Purchasing an existing Auto parts store | 7/21/2008 |
Q: I would like to purchase an established and profitable auto parts store how do I how do I get ...
A: Of course a partner can put up equity and that will help you to have more capital available. More ...
|
| Loan to future husband | 7/13/2008 |
Q: I am in the process of making a 7% loan to my future husband for the purpose of paying off his ...
A: My first question is why? Why are YOU playing banker? A lot of things could happen to your ...
|
| Sosigner on loan | 6/17/2008 |
Q: I own a piece of property with my 2 sisiters. My younger sister and I cosigned a personal loan for ...
A: I am not an attorney, but know of no way that you can remove her without her permission. Keep track ...
|
| Get A loan | 6/16/2008 |
Q: I have a business plan. I just need a large amount to buy equipment. It is well servicing. I need ...
A: Banks, finance companies, leasing companies can all easily finance this amount. The question is ...
|
| Audit danger? | 6/15/2008 |
Q: I heard that the works of an auditor comes with danger including being threaten and even murdered to ...
A: Maybe if you take a job with the Mafia... Perhaps in some very extreme and rare cases, this could ...
|
| Auto loan | 6/10/2008 |
Q: Is it advisable to take a loan from my 401k to buy a used car worth under 10,000$? What other way ...
A: Relatives, friends, neighbors... for a low interest rate car loan. Also, try a credit union. Next ...
|
| What would you do? | 6/9/2008 |
Q: If you were able to go back time, what would you do different, financially and career-wise, that ...
A: A complete answer would require a book... Simply, listen more to the wisdom that my parents tried ...
|
| Being a Financial Analyst? | 6/8/2008 |
Q: How far can a person go in this world by being proficient in financial analysis? I am not but ...
A: Dennis kozlowski, remember him? Chairman and CEO of Tyco, International, a $100 billion market cap ...
|
| Interest on Bond | 6/6/2008 |
Q: How can I check that I am being charged the correct amount of interst on my bond account
A: If you are Canadian, then you can easily verify that the amount deducted from your pay has been ...
|
| Accounting fraud? | 6/3/2008 |
Q: Is there a possibility where a corporate borrower, realizing that banks evaluate it's accounts ...
A: Sure, but it goes deeper than ratios. Corporations have inflated the value of assets, refused to ...
|
| Salary woe? | 6/1/2008 |
Q: Will the salary of a manager/exec involved in marketing/managing/approving loans for project ...
A: Typically, the greater degree of difficulty, the more education required, the larger the dollars ...
|
| Standard Loan | 5/31/2008 |
Q: I'm trying to check something out on my loan. It appears that the loan office has messed up. On ...
A: At 23.46% interest, your first payment of $100.00 should have had $20.12 applied to interest and ...
|
| Banker vs Broker? | 5/29/2008 |
Q: I'm not sure if you know these, but... In terms of income and career advancement, which of these 2 ...
A: Wow... I take it you wouldn't settle for an "it depends" answer, right? First, if you make a ...
|
| Rescheduling & Provisioning | 5/28/2008 |
Q: 1. What's the meaning of rescheduling credit facilities? Can you give me a real-life example? 2. ...
A: "Rescheduling" is simply the alteration of the terms and conditions of a loan agreement by either ...
|
| add on interest | 5/26/2008 |
Q: what is the diffence between the interest mechanics of add on interest and rule 78?
A: Rule of 78ths, is a method of calculating interest that "earns" most of the interest for the lender ...
|
| Auto Lease Disposition Fee | 5/21/2008 |
Q: Are companies permitted to charge sales tax on auto lease disposition fees? If so, any idea where I ...
A: for more see: http://www.leaseguide.com/lease09.htm Lease Fees and Taxes In car leasing, as in ...
|
| pay off co-owners of land | 5/16/2008 |
Q: I am a co-owner of 1 acre of land with two siblings. They want to sell now, I don't. I want to own ...
A: 1 acre for $90K? Sounds high in this kind of market. How much money do you have to put down? ...
|
| bank on yourself-? | 5/15/2008 |
Q: Recently I've heard alot about a strategy known as "banking on yourself", and in doing a brief ...
A: Bank On Yourself OK, what is up with this link: Bank On Yourself Is this some sort of scam, or is ...
|
| loc obtained new business, partner left | 5/13/2008 |
Q: Our 2 year old business obtained a line of credit thru the bank as a Small Business finance option. ...
A: Sorry, did not realize that you were in Canada, ay... OK, what I would do, (IF YOU HAVE A GOOD ...
|
| loc obtained new business, partner left | 5/13/2008 |
Q: Our 2 year old business obtained a line of credit thru the bank as a Small Business finance option. ...
A: I will give you a finance guy and business guy's perspective/opinion. First, the bank will probably ...
|
| finance (mergers) | 5/4/2008 |
Q: is it possible to form a profitable company by merging two business failure companies?
A: Possible, but not likely... It all depends on the reasons that the two companies are failing. If ...
|
| finance (liquidation) | 5/4/2008 |
Q: why do liquidation usually result in losses for the creditors or the owners or both?
A: This sounds like a homework question, but I will give you the benefit of the doubt... Simply ...
|
| advice | 5/2/2008 |
Q: my boss owns a moving compayn, and he wants me to buy it in the near future. i am 23 years old and ...
A: This may be a great opportunity for you, if it is a good business and you can transition from an ...
|
| shelf corporations | 5/1/2008 |
Q: I presently own a business and have received some loans but they required guarantors. We were told ...
A: You are wiser than the supposed consultants... I agree completely. The shelf corporations are only ...
|
| Co-signing | 4/30/2008 |
Q: My son co-signed for a roommate for a loan to finance a motorcycle. He knows the roommate is late ...
A: This is something my son would do, just that perfect combination of naivete and good heartedness... ...
|
| Home Equity/ Line of Credit | 4/22/2008 |
Q: I have a mortgage on my current home, right now I am looking to get something bigger and have found ...
A: Typically, at least now, banks will not loan you 100% of the value of your property. Simply go to ...
|
| Business Grants | 4/16/2008 |
Q: I'm starting 2 companies. One Is going to be established as a non profit and the other a ...
A: 1. Pray 2. Relatives 3. Friends 4. Potential investors 5. Potential customers 6. Other ...
|
| company financing | 4/13/2008 |
Q: "I am studying a certificate in business and am stuck (have been for weeks) on oneUnder what ...
A: test book answer: http://vig.pearsoned.co.uk:8081/catalog/uploads/FMF_C06.pdf CREDIT Credit is ...
|
| Start up Capital | 4/3/2008 |
Q: I am interested in starting a small operation repairing computers and I have a decent plan put ...
A: Get your customers to invest in your business. That is, get PREPAID orders for your services. ...
|
| Financing | 4/1/2008 |
Q: I'm considering a second home purchase. Let's say the purchase price is $100,000.00, I have an ...
A: The lowest, of course, is your own cash. Short of that, some people borrow against their CD's for ...
|
| payday loan | 3/26/2008 |
Q: I received a call from someone threatening me that I was going to be arrested for fraud and theft ...
A: What you describe violates both state and federal law: I have listed both the PA state's debt ...
|
| obtaining financing for small business start up with less than perfect creedit | 3/24/2008 |
Q: my name is Corey and I am interested in opening an ice cream/sub shop in a small town in rural ...
A: Your decision should rest on the amount and type of due diligence that you do in researching this ...
|
| Outstanding student loan | 3/20/2008 |
Q: I had gotten a student loan for 2500.00 in 1986. It is up to 7,000. and the only income is my ...
A: Student Loan Bankruptcy Options Student Loans and Bankruptcy filings used to be connected by a ...
|
| Business Financing | 3/19/2008 |
Q: I am thinking of starting a restaurant/Family Entertainment Center similar to a Chuck E. Ceese or ...
A: I would wait and see what happens in the economy. This is not the environment in which I would ...
|
| finance contract | 3/18/2008 |
Q: what is the legal age to enter into a financial contract(automotive loan) in the state of alabama
A: What is the age of adulthood or majority in Alabama? Or in other words, how old does a person have ...
|
| TAX RETURN | 3/17/2008 |
Q: HOW DO FINANCE CO USE TAX RETURNS TO VERIFY INCOME
A: They don't, in the sense that you mean. They simply like to see if the returns that you filed ...
|
| Payday Loans | 3/16/2008 |
Q: I have a few payday loans totalling $830, not including interest. I have paid back more than what I ...
A: How the Court Helps You Get Out of a Payday Loan Many people seem to be drowning and trapped by ...
|
| A SITUATION TO RECOVER FROM | 3/16/2008 |
Q: HERE IS THE SITUATION: MY DAUGHTER, REBECCA HAD ABOUT $20,000.00 TO START A SMALL BUSINESS, ...
A: Rick, OK, this helps. First I commend your daughter on accepting responsibility for her debt. ...
|
| A SITUATION TO RECOVER FROM | 3/15/2008 |
Q: HERE IS THE SITUATION: MY DAUGHTER, REBECCA HAD ABOUT $20,000.00 TO START A SMALL BUSINESS, ...
A: Rick, I don't know how old your daughter is or her personal situation, but maybe, and I repeat, ...
|
| Payday Loans | 3/15/2008 |
Q: I have a few payday loans totalling $830, not including interest. I have paid back more than what I ...
A: I don't know what to say other than NEVER USE pay day lenders! Talk to your friends and ...
|
| Business credit | 3/14/2008 |
Q: I would like to know how to establish credit for my business. Also, is there a way you can purchase ...
A: Banks are not stupid, wait a second, yes, they are stupid! Example, sub prime. However, they are ...
|
| FHA Mortgage | 3/11/2008 |
Q: We have a FHA mortgage on our house that isn't quite a year old yet. It is a 7% fixed 30 year loan. ...
A: First, only deal with a bank, NO BROKERS!!! Secondly, make sure you read and understand ALL the ...
|
| motorcycle loan | 3/4/2008 |
Q: hey im looking to get finaced on a motorycycle. i have had credit cards (4) for a lil more than a ...
A: Do yourself a favor, pay off all or most of your credit cards, before even thinking about a ...
|
| medical deferment of student loans | 3/3/2008 |
Q: I have been on long term disabilty for 4 years and that has changed to permanent disabilty so I am ...
A: have a disability. Can my student loan be forgiven? It depends. The Department of Education has ...
|
| Government EE bonds | 3/2/2008 |
Q: I have a list of the U.S. Govt.EE bonds I have purchased over the years. Recently I compared the ...
A: To get your bond replaced, complete Form PDF 1048 (download it by clicking on the link). On this ...
|
| auto | 2/23/2008 |
Q: I received a refund from car company. because of such poor service I decided to refinance and go ...
A: Please give me more details on your situation. What were the amounts paid to each? What was ...
|
| APR FOR SECONDARY CAR LOANS | 2/7/2008 |
Q: I FINANCED A VEHICLE APPROX. 3-4 YRS AGO. MY CREDIT WAS NOT IN GOOD SHAPE SO I HAD TO GET A ...
A: See this PDF at: http://www.consumerfed.org/pdfs/Car_Title_Loan_Report_111705.pdf Also, according ...
|
| shareholders | 2/7/2008 |
Q: If a corporation needs additional cash, but the current shareholders do not wish to have any ...
A: Sounds like confusion to me... Do the stockholders agree that more money is needed? If so, either ...
|
| Financing a business | 2/7/2008 |
Q: How can I raise additional cash for a business without selling any more shares/stocks?
A: You can borrow from your friends, family, bank, etc. Hopefully you have some assets in the business ...
|
| The Untruth in Lending Act | 2/5/2008 |
Q: When the TIL Act was passed in 1968, there was no ubiquitous machines to calculate compounding ... ...
A: Bob, Yes I did round to two weeks out of a 52 week year. I thought this might have been precise ...
|
| Getting approved for Auto Loan | 2/3/2008 |
Q: It is the beginning of February, I am planning to buy a new car in mid March. The drive out price of ...
A: Burt, Yes, you can get a "decent" rate, depending on what this is. At a credit union, you may be ...
|
| The Untruth in Lending Act | 2/3/2008 |
Q: When the TIL Act was passed in 1968, there was no ubiquitous machines to calculate compounding ... ...
A: With respect to your problem, my 17BII calculates the interest at 3,685.68%. However, your question ...
|
| Getting approved for Auto Loan | 2/3/2008 |
Q: It is the beginning of February, I am planning to buy a new car in mid March. The drive out price of ...
A: Burt, You are not going to like my answer... Do not buy a new car! Why? Sure it may feel good ...
|
| non-recourse debt | 2/1/2008 |
Q: How would one go about seeking to acquire non-recourse debt to finance a commercial development? I ...
A: Non-recourse debt is difficult to obtain, except for very specific types of projects. It requires ...
|
| ARM readjustments | 1/31/2008 |
Q: As the Fed lowers interest rates, doesn't that also affect ARM readjustments? Is there a break-even ...
A: Generally, it should. As rates fall, so too should your ARM. However, read your ARM contract, it ...
|
| Disability & Canada Student Loans | 1/29/2008 |
Q: Regarding your answer about student loan discharges due to disability, are these options available ...
A: Here is a webiste with phone numbers to call: ...
|
| disable with outstanding student loan | 1/28/2008 |
Q: I have disable for 4 years .I am receiving SSDI. I cant afford to pay my loan back on my income .
A: Disability Your student loan may be discharged (forgiven) if you become totally and permanently ...
|
| pitfalls with buying a new car | 1/27/2008 |
Q: I hear here and there about pitfalls in real estate business, car lease/sale, and something else. ...
A: Never lease a car. Negotiate for a car as though you are paying cash. Then, go to a bank and borrow ...
|
| Start up financing. | 1/24/2008 |
Q: I am a freelancer in the entertainment industry. I am completely self developed in my field, and ...
A: OK, some manufacturers offer equipment leasing to assist their customers in acquiring equipment. ...
|
| Credit Rating | 1/21/2008 |
Q: I have not had a loan on anything for over 10 years. Some people say that my credit rating is ...
A: Possibly... Get a credit report and see what accounts you have open. If you have closed your ...
|
| Business Loan Vs, Business Credit Card | 1/12/2008 |
Q: I have a small business and I'm trying to decide whether a business loan would be best to purchase ...
A: Here is what I would think about... Business needs cash, it's its life blood, so to speak. You as a ...
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| Loan Default | 1/11/2008 |
Q: My ex-husband took out a loan for his business and made me sign as a guarantor two months before he ...
A: Does your attorney know our financial situation and that you cannot service the debt from the equity ...
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| Loan Default | 1/11/2008 |
Q: My ex-husband took out a loan for his business and made me sign as a guarantor two months before he ...
A: First, talk to your divorce attorney. My question would be, if ALL business obligations were ...
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| Treasure report. | 1/10/2008 |
Q: I am the new treasure at a church.How do I prepare the monthly treasures report?Thanks!
A: There is an abundance of helpful information available on the web. One site I found has a great ...
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| Bar/Tavern Financing | 1/10/2008 |
Q: Need bar/tavern financing resources? Which are the banks to approach that I have a better shot at ...
A: Unfortunately this is trial and error as banks and finance companies change their focus and ...
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| forecast | 1/6/2008 |
Q: if i am a manager of a company could u please give me detail on how to make financial forecasting on ...
A: Sure. If you are an ongoing business and had a full year of operations in 2007, it should be ...
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| Broker License | 12/26/2007 |
Q: To sell business/cpmmercial loans do you have to have a brokers license, like you do for ...
A: It is my understanding that if you are simply referring commercial borrowers to a financial ...
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| Weird auto financing question | 12/19/2007 |
Q: I feel kind of odd asking a question here, since I've been answering them in the mortgage area for ...
A: This is a weird situation… The dealership is still probably trying to “sell” your loan as we are ...
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| Investment | 12/11/2007 |
Q: Could you please help me in solving thisAn investor is considering two investments. Investment A is ...
A: I believe this is a homework question and that is not what this site is for. However, try this... ...
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| How soon can I pay the next payment? | 12/8/2007 |
Q: A monthly payment due date of an auto loan is 20th every month. There is a grace period of 10 days. ...
A: Look, I was trying to help. Obviously, you can pay your payment anytime you want prior to the due ...
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| How soon can I pay the next payment? | 12/7/2007 |
Q: A monthly payment due date of an auto loan is 20th every month. There is a grace period of 10 days. ...
A: Look, I am trying to help you, but I do not know, what I do not know - namely your rights and the ...
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| grant info for canada | 12/7/2007 |
Q: hi i was wondering where i can get a grant for someone disabled in canada to start a business like a ...
A: Apart from any Canadian gov't programs, of which I am totally unfamiliar, try the obvious, friends, ...
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| How soon can I pay the next payment? | 12/4/2007 |
Q: A monthly payment due date of an auto loan is 20th every month. There is a grace period of 10 days. ...
A: Auto loans are not like mortgage loans. You must read the documentation that you signed, e.g. the ...
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| My name was forged as co-signer | 11/29/2007 |
Q: I started finding messages on my answering machine in March 2007 telling me to call an 800 number ...
A: I am so sorry to hear about about your situation... You need to contact an attorney that ...
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| Salley Mae Student Loan | 11/24/2007 |
Q: I co-signed for a person on their student loan. The person has never paid any money towards the ...
A: Your recourse will depend on what documents you signed, and the state law in which you reside. ...
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| Incoporated Company Line if Credit | 11/20/2007 |
Q: I've been in business for 7 years. I was incorporated three years ago. I am seeking a business line ...
A: Yes, you can get a loan in your corporation’s name. however, it is not easy and will usually ...
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| Financing for land purchase | 11/12/2007 |
Q: I live in Florida and want to purchase land in Colorado.The property is app.40 acres and would be ...
A: Why make a SUBSTANTIAL down payment? Negotiate for the lowest amount of down payment possible... ...
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| Financial Environment | 11/12/2007 |
Q: What encompasses the financial environment? Meaning what makes up the financial environment? Hope ...
A: OK, let's go global and local: Here is the global, see the speech below (it's a little dated, but ...
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| Auto loan in canada | 11/7/2007 |
Q: I received financing from carfinco to purchase a vehicle in british columbia, canada. In case you ...
A: First of all, congratulations! You are one of the few individuals who actually provides me with ...
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| gonna be a millionaire | 10/28/2007 |
Q: what do you think would be a good way for an 18 year first year college student to make money i have ...
A: Have dreams... Follow your passion... Be diligent and work hard. You will need a plan. What are you ...
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| Heloc vs. Margin | 10/19/2007 |
Q: I bought that I intended to flip. It looks like I will be in a lease to buy situation for the next ...
A: How about just refinancing the flip home? You don't give me a lot of personal info to go on, ...
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| student loans | 10/7/2007 |
Q: What loans if any are available to a student fresh out of high school w/o a cosigner at age 18? I ...
A: Advice: If possible, live at home and commute. Get a job. Try and qualify for grants, school loans. ...
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| Loaking for start up laon | 10/6/2007 |
Q: Iam looking for appr. 45,000 CAN for start up our testing and service business, next month. ...
A: You will need a business plan in writing describing what you want to do, what you want the money ...
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| loans | 9/22/2007 |
Q: pls,am wondering if you can assist me get source of loans to finance agricultural project,mainly ...
A: Nobel Peace Prize Goes to Micro-Loan Pioneers Stefan Lovgren for National Geographic News October ...
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| Small Business Loan | 9/19/2007 |
Q: I want to know the best way to go about obtaining a loan for a startup retail store. I have ...
A: Friends, relatives, neighbors, get everyone you know to invest in you and your business or loan you ...
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| Add-on interest APR's | 9/19/2007 |
Q: What is the formula for calculating what the APR is on an add-on interest loan?
A: Add-on interest When the add-on interest method is used, interest is calculated on the full amount ...
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| Payday Loans | 9/17/2007 |
Q: I have 3 internet payday loans that I have sent letters revoking the ACH authorization. I have had ...
A: Please, for your own financial sake, STOP using payday loans! It is exorbitant interest in the ...
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| car leasing | 9/12/2007 |
Q: I am in college, im 18 and i need a car fast for my field placement. I have no one to co-sign my car ...
A: I think it may be very difficult to get a lese at your age. Why do you want to LEASE, anyway? Talk ...
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| Car loans for High School students | 9/9/2007 |
Q: I am 16 years old and am looking to purchase a used car for driving back and forth to school and ...
A: With a co-signer I would think that you will have no problem getting financed. However, because you ...
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| MTN Loans | 9/7/2007 |
Q: This may be complicated....or somewhat unclear due to my limited knowledge. Our firm is in the ...
A: I have heard of these schemes, often based on Euro MTN's. In my experience, it was all about these ...
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| Pay off mortgage programs | 9/3/2007 |
Q: I have heard a lot lately about being able to pay off your home mortgage early by using a HELOC and ...
A: This is a scheme used by mortgage brokers to try and get you to take out a HELOC. I have no problem ...
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| Franchise financing | 9/1/2007 |
Q: Me and my husband are looking into fast food franchise that's already operating. Is it easier to ...
A: Is it easier to franchise a brand new location and start it yourself or take the existing? It is ...
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| land purchase | 8/30/2007 |
Q: I am interested in purchasing a few acres of land in Virginia on which I plan to build my primary ...
A: Most banks, though not all banks, will do a 50% LTV lot loan. Terms, rates and amortization periods ...
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| ESTATE AUTO LOAN | 8/30/2007 |
Q: Dad died and has a auto loan from the bank for $10k payoff...the trunk is only worth $8k. We dont ...
A: Guy, I am sorry about the loss of your father... Perhaps the bank should, but they won't. They ...
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| DO I NEED A LICENSE? | 8/22/2007 |
Q: first of all, thank you for your time. I have been saving some money. I saved up $5,000 and I ...
A: Yes, according to Texas Civil Statutes, Articles 5069-3A.005, 5069-3A.101, 5069-3A.102, and ...
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| banking regulation | 8/15/2007 |
Q: I've been told that banks do not lend to lower-credit score consumers because it would force them to ...
A: You question relates to risk based capital guidelines for banks and can be a complicated topic for ...
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| Home Equity Line of Credit (HELOC) | 8/15/2007 |
Q: Not sure if this is your expertise but I'll appreciate it if you have any input. I recently took a ...
A: If it is true that the loan is as you describe, I see no problem in setting up a home equity line of ...
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| loan to get franchise | 8/12/2007 |
Q: I have checked with a loan specialist about purchasing an existing franchise. He said that the ...
A: You do not have sufficient capital to start a franchise, in my opinion. First, things do not always ...
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| Paying for a home - no mortgage | 8/12/2007 |
Q: I want to purchase a home that costs $700,000. I have the entire amount and more saved. I know ...
A: Basically, the mortgage gives you flexibility. It may become important when you want to sell. If ...
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| bankruptcy and purchase of a brand new car | 8/11/2007 |
Q: We filed bankruptcy several months ago. My sister in law co signed for us to buy a 2007 honda with ...
A: With the seeming death of Subprime, a "traditional" home loan for a couple with a recent past ...
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| payday loan | 8/7/2007 |
Q: I defaulted on a payday loan over a year ago. I am getting calls from someone that I can barely ...
A: From someone that used to work at a pay day loan company: First of all, any time they call, ...
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| payday loan | 8/3/2007 |
Q: I defaulted on a payday loan over a year ago. I am getting calls from someone that I can barely ...
A: see: http://www.fair-debt-collection.com/searches/harassment.html Creditor Harassment and Debt ...
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| student loan | 8/1/2007 |
Q: I recently gave birth to a child that is totally disabled. I am not able to work right now. Is ...
A: Terri, I am so sorry to hear about your situation. This is what I was able to find on the web: ...
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| cosigning a loan | 7/21/2007 |
Q: This is probably a no-brainer for you and I realize this isn't your forte, but hopefully you can ...
A: The short answer is that it could impact the total amount of credit that you may be eligible for. ...
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| Franchise loan | 7/21/2007 |
Q: I am looking into buying a franchise. The estimated atart-up costs are $150,000-$250,000. Are loans ...
A: Relatively, borrowing to finance a franchise, is a little easier than borrowing to start up some ...
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| Payday Loans | 7/20/2007 |
Q: I received a call from a Lawyers office in Florida who was threating to sue me. I said I would like ...
A: This is harrassment! It is hard to believe that an attorney would actually say this. If the person ...
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| CAR FINANCING | 7/18/2007 |
Q: WE ARE SENIORS AND ARE CONSIDERING PURCHASING A NEW CAR. MY QUESTION IS IF THE CAR IS PLACED IN MY ...
A: Typically, yes, either as a settlement from the estate or simply as a pass through debt. Do you ...
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| Who is Responsible for an Auto Loan | 7/18/2007 |
Q: I have a question relating to an auto loan. My father-in-law had an auto loan that he made only 16 ...
A: According to Legalzoom: Estate Planning: Dealing with Debt Upon death, an individual's assets and ...
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| Interest Rates | 7/15/2007 |
Q: we have a home equity line on our house. We loaned my mother-in-law money from that account for a ...
A: Dave, I was trying to keep it simple, but it can get as complex as the amount of variables and ...
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| payday loan default | 7/15/2007 |
Q: i am not sure if you can help me but, i have several payday loans out and i am unable to pay them ...
A: You will need to talk to an attorney, as I can not give you legal advice. Something I have heard ...
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| refinance | 7/10/2007 |
Q: my wife and I had kids out of high school 15 years ago and struggled financially ever since. However ...
A: Bob, First go to three or four banks, explain your situation and compare the offers. You need to ...
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| Info | 7/3/2007 |
Q: I am trying to start up a small ambulette service. I have my vans already but I need to know how do ...
A: Try relatives, friends and business associates first. Sell shares of interest in your company. ...
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| Student Loan Deferment due to Medical Disability | 6/21/2007 |
Q: I am at a loss. I tried to take a medical leave from my very expensive University (I am now ...
A: You did not give e a lot of info, state, school you attend, name of lender, etc., but here is some ...
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| tips on how to start a small buisness needed!!! | 6/12/2007 |
Q: I LIVE IN PUERTO RICO AND I AM REALLY INTERESTED IN STARTING A SMALL BUSINESS. I HAVE NO PRIOR ...
A: Danny, All things are possible... Now, it will really come down to you, looking yourself in the ...
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| sba loans for an LLC | 6/2/2007 |
Q: i may become a partner 30% in an LLC. if a sba loan is doable 1. is collateral required such as the ...
A: I'm sorry, for some reason the entire answer did not get posted. The short answer is that you ...
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| How do we get out of a land contract? | 5/30/2007 |
Q: Had a land contract drawn up by an accountant. But we want to get out of the contract for financial ...
A: You really need to speak to an attorney. However, you might first talk to the land contract holder ...
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| Business Equipment versus Lease | 5/10/2007 |
Q: I have been given information regarding lease versus purchase of mobile equipment and have been ...
A: OK, it sounds like you already have a lease vs. buy calculator , so simply assume that you will NOT ...
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| Bank error overcharge | 4/30/2007 |
Q: We have a small business account with Wachovia. Recently, my husband paid a $250 bill from the ...
A: I will assume all that you have said is correct... Therefore, contact your branch manager at once ...
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| student loans | 4/20/2007 |
Q: I am planning on taking out a private student loan in addition to my federal loans. In order to get ...
A: Yes, it is possible to later consolidate loans and release the co-signer. However, it will be at ...
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| Condo association getting a loan | 4/11/2007 |
Q: My condo association wants to do a major renovation, however, funds are not currently available. ...
A: Brad, I found this on Google. Ron Home buyers on a budget may find lenders willing to give credit ...
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| Debt/Consolidation Credit Score | 4/9/2007 |
Q: I've recently enlisted the services of attorney's firm that specializes in mainly debt consolidation ...
A: I think you should direct this question to your attorneys... Let them answer it specifically and ...
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| Student Loan (Not for School) | 4/9/2007 |
Q: I have a question about any loan programs, and where to receive the best loans. I am 18 years old, ...
A: OK, let's take the no credit first. You can get a credit card. Try a department store purchase. ...
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| Mortgage Banking | 4/5/2007 |
Q: Is there such thing as a federally chartered mortgage bank? Thank you.
A: There is a federally chartered thrift or federal savings bank, which is governed by the OTS (Office ...
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| payday loans | 4/2/2007 |
Q: are online payday loans safe?
A: Never use payday loans!! And risky for whom? (e.g. Risk from whose perspective, the borrowers' or ...
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| Big Project, Lots of money | 3/21/2007 |
Q: Okay, heres the deal. A gentleman from New York is opening a Water Treatment Facility in Madagascar. ...
A: With all due respect, I know of NO ONE who would put up $300 k for a bond of this type. Why would a ...
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| Big Project, Lots of money | 3/19/2007 |
Q: Okay, heres the deal. A gentleman from New York is opening a Water Treatment Facility in Madagascar. ...
A: You sure they're not selling you a bridge?? This is a scam. Come on, you are either very naive or ...
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| interest rates | 3/8/2007 |
Q: When the federal reserve raises or lowers rates, I understand that it does not have a direct impact ...
A: Here is a good article from Business Week JULY 11, 2005 A World of Influence on Interest ...
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| Mutal funds | 3/2/2007 |
Q: When should I start investing in mutual funds?
A: HOW OLD ARE YOU? Married? Kids? DO YOU HAVE A HOUSE, YET? Do you have credit card debt? Stable ...
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| new car/lease car | 2/24/2007 |
Q: For years I leaned towards leasing a car rather than buying, mostly because I enjoy driving a newer ...
A: The difference between leasing a car and financing one, really boils down to a few key points: 1. ...
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| question | 2/18/2007 |
Q: I have been paying cash rent every month for the past ten years, and I am still paying $500 every ...
A: The best way to build credit and wealth is to buy a house or condo. If you can't get a mortgage, ...
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| new business financing | 12/22/2006 |
Q: My fiance would like to start up her own massage business, the problem is that 1 year ago she got ...
A: Of course. Find a friend, a relative, or make a new business partner friendship. Start small, if ...
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| school loans | 12/18/2006 |
Q: I'm a student with bad credit and I need a loan to get back into school. I don't have a co-signer ...
A: There are federal grants and school loans for "need" or hardship that you may be able to qualify ...
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| question on pre marriage property etc | 11/26/2006 |
Q: I m going to marry an american man next year. He will graduate at that time. but He is still with ...
A: Probably the best thing that you can do is to have the gentleman prove to you that the debts have ...
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| Business Acquisition and Partnership Negotiations | 10/14/2006 |
Q: I have been attempting to start a hotel development and management company for over a year and a ...
A: OK, that was easy. There is a reason that no one has responded positively to your project, if the ...
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| Equipment Lease | 9/25/2006 |
Q: I work in A/P in a mid-size company. We have a leased Toshiba copier. Toshiba applied our payments ...
A: Well, you're right, leasing companies can be unreasonable, simply because they tend to enforce the ...
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| failure to collect on auto loan | 9/12/2006 |
Q: I purchased a car in may 2004, An LLC purchased the contract the following month.February 2005 LLC ...
A: Unfortunately, these questions are more legal in nature than they are financial questions. I would ...
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| Small business credit | 9/11/2006 |
Q: I have a sole -proprietor business and want to establish my business credit. When I was younger I ...
A: Great question. The answer is that you never really escape your personal credit history. The ...
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| loan from the store itself. | 9/6/2006 |
Q: i'm sorry to bother you and for not being able to express my problem more clearly. i'm a 1st year ...
A: OK. Although you did communicate the basics of your question very well, I am still not sure that I ...
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| Lowering monthly mortgage payments | 8/24/2006 |
Q: I received you answer needing more information. I just was looking to seek a few suggestions on how ...
A: OK, a general answer to how to lower your monthly payments... Basically talk to a mortgage lender. ...
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| Lowering monthly mortgage payment | 8/22/2006 |
Q: Could you please list some options on how to lower my monthly mortgage payment? Also, if possible, ...
A: To assist you with your situation, I will need a lot more information. First, what state are you ...
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| auto loan vs. home equity | 8/16/2006 |
Q: I am purchasing a new vehicle, and I am contemplating financing this thru an auto loan or with my ...
A: Good question. Answer is it depends... You didn't say how much you were going to spend on a new ...
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| interest rate on a loan | 8/16/2006 |
Q: I want to loan $3000.00 to a coworker for 6 months. The local credit union is charging 8.99% ...
A: Donna, This is very kind of you and, perhaps, it may be a good business transaction, if your ...
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| Legal to enter into a contract | 8/15/2006 |
Q: What law states you must be 18 years of age to enter into a legal contract?
A: See: http://www.dod.mil/comptroller/fmr/07b/07b_appendix_h.pdf AGE OF MAJORITY - The age when a ...
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| Free loans? | 8/2/2006 |
Q: I know this is a stupid question, but is there anywhere a person can borrow money for a ...
A: Well, this is the first time I have been asked this. I think what you are looking for is a grant. ...
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