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Financing -- Loans/Questions Answered by Expert Finance Guy

SubjectDate Asked
Bad company Carfinco3/26/2017
  Q: Just need help to try to get my car back it's now causing me more trouble with no car to take my ...
  A: I am very sorry you are experiencing such difficulties with this company. In my own experience, I ...
Why is it better to pay off a mortgage in 30 years10/15/2016
  Q: Why is it better to pay off a mortgage in 30 years, instead of paying it off in 15 years and use a ...
  A: Good question... Answer is dependent on what you believe, that is, what does the future look like? ...
Term loan under SBA3/8/2016
  Q: We successfully completed a $2 million plus loan under the SBA 7(a) program with a small bank eager ...
  A: OK You caught me on vacay in CA. Am without both a computer and my financial calculator, but this ...
capital one 360 saving offer11/24/2015
  Q: could you tell me if the on line 360 offer from capital one is legit I'm retired and can't ...
  A: Offer is repeated below: I am not going to endorse this account, but youre money is safe. You are ...
Loan Modification FICO score10/24/2015
  Q: Not sure if you can answer this, but I'll let you give it a try. I spent 3 months trying to get ...
  A: Carl, Really sorry to hear about your issue.... Although I'm a banker by training, thr credit ...
Bank corporate diaries.10/21/2015
  Q: Do Banks private or public sector are allowed to give bank corporate diaries as gifts to their ...
  A: Some do, some do not... Some customers appreciate this, some don't. Banking is, for the most part, ...
Valuation6/21/2015
  Q: Good Morning, I originally sent my question to a Maths Expert, but they have told me Finance Expert ...
  A: OK. This is why it helps to constantly update partnership agreements to reflect new terms and ...
About MTN6/15/2015
  Q: My name is Sara Mazen and i,m newbie in intentional trade and i have read your profile and you are ...
  A: People are attracted to this activity because of the promise of thousands of dollars of brokerage ...
Handicap Van Financing5/22/2015
  Q: I am looking to develop a micro-financing opportunity for disabled (primarily Paraplegics) to buy ...
  A: Wow... Interesting and worthy concept. As there is no specialty finance company that I am aware of ...
How do banks lend out more money than they have on hand?5/1/2015
  Q: I've been reading this guide - http://money.howstuffworks.com/personal-finance/banking/bank2.htm ...
  A: Banks create money in the economy by making loans. The amount of money that banks can lend is ...
Angel Investors2/19/2015
  Q: I've tried to research my question on my own, as well as looked over your past Q&A, but can't seem ...
  A: Many ask questions, that could easily have been googled, so I appreciate your pre-work. Typically ...
Personal Credit with Multiple Owners - Small Business Loan12/24/2014
  Q: Howdy! Me and two others are in the planning stages of opening a small local business. We are close ...
  A: ANSWER: Yes, your partners can apply for a loan and keep you off the application. If your ...
Queston12/1/2014
  Q: Good day With reference to investment banking are there any areas of this branch of banking that one ...
  A: I can think of two. You can operate as a financial intermediary (broker) who can source funds for ...
pre-qualification letter11/13/2014
  Q: Looks like you're the only expert left to answer finance questions. I too am an expert contact on ...
  A: I am so sorry to hear about your situation. Unfortunately, banks have been doing this to many folks ...
Loan Agreement11/5/2014
  Q: Attached is a loan agreement between a borrower and myself. According to my tax consultant, this ...
  A: Sorry, you have asked for legal advice and I am not an attorney, nor allowed to give such. An ...
Financing9/8/2014
  Q: Good day With reference to one starting a venture capital / angel investment firm are there any ...
  A: According to the US SBA, here is some published advice: Venture Capital About Venture Capital | ...
loan payment vs principal payment6/2/2014
  Q: I live in Kentucky and have a loan for a trailer. I have been behind on the payments due to an ...
  A: Count your blessings... You WANT the bank to apply the payment to principal!!! They could be ...
fees & statements needed for a commercial loan4/15/2014
  Q: especially with your credentials! Please tell me what types of fees should expect when applying ...
  A: If your lender is a typical commercial bank, expect total fees between 1 and 1 1/2 percentage points ...
Business Loan for a business with ideal qualification.2/21/2014
  Q: I am wondering how do banks determine what interest rate is determined for each small business ...
  A: Not a lot of science behind this, actually. For the most part, the bank establishes a range of loan ...
Refinancing auto loan2/13/2014
  Q: I have a 2012 Honda civic I purchased new in August of '12. My APR is 6.8%. My credit has improved ...
  A: You did not really provide enough detail for me to do a complete analysis of your loan, but let's ...
Security measures for Safe Deposit Locker Facilities.1/6/2014
  Q: http://en.wikipedia.org/wiki/Locker_(cabinet)‎ http://en.wikipedia.org/wiki/Locker‎ ...
  A: banks do not insure lockbox contents. Important Update: Changes in FDIC Deposit Insurance Coverage ...
Unconventional Loans?8/21/2013
  Q: Where would you recommend a person go if they have a hard time getting a loan? Basically an ...
  A: Susan, You are not alone, there are many folks in the same situation, today. Unfortunately, ...
Student Loan Consolidation8/13/2013
  Q: I attended college and borrowed federal financial aid between 2002 and 2005. I currently owe $9900 ...
  A: Joelle, You actually sound like you are better versed on this than me. I would go to a bank that ...
question about a loan8/13/2013
  Q: First of all, thank you for your time! My question is pretty simple: I'm a member of a credit ...
  A: OK, first you should always be truthful with the banks, in fact, it is a federal crime to lie to ...
Wireless Credit Card Billing Machines for Transport Sector.7/10/2013
  Q: http://en.wikipedia.org/wiki/Credit_card_terminal‎. ...
  A: Yes, they are already being marketed - see below for just one vendor... Transportation Wireless ...
Question about banks.....5/17/2013
  Q: In( loans create deposits) system , when bank credit my account with $1000 and bank figure out how ...
  A: Banks hold considerable amounts of cash in "reserve" to accommodate such requests. If you wanted to ...
Company Wants My Invention5/15/2013
  Q: A large company wants to be the exclusive distributor for my invention globally. However, I need ...
  A: At this point you will need to decide how much you trust this part company, and what percentage of ...
How much bank will give me .....4/30/2013
  Q: my monthly salary : 1 million dollar . I want to take personal loan from bank , how much money bank ...
  A: This all depends on: 1. What is the source of your income? 2. How long have you been earning at ...
Social Security Number.3/31/2013
  Q: http://en.wikipedia.org/wiki/Social_Security_number 1. Is SSN reference a must while filing Income ...
  A: With respect to your questions, I am not an expert on all things SSN, however I can offer you my ...
Car Loans3/9/2013
  Q: Yes, you didn't answer my follwup. I wanted you to answer whether a $10,000 car loan is too much for ...
  A: I already told you in my first email that I thought the car cost too much for your income. no more ...
student loans2/21/2013
  Q: I have student loans that are coming due now. They are 52,357. Averaging the interest rates on these ...
  A: This is a difficult decision and not to be taken lightly. To answer one question directly, yes, i ...
Home Equity Loan Question2/13/2013
  Q: .. I just paid off our main house mortgage in January. We have a Home Equity Line of Credit for ...
  A: If I follow your question, and you simply want to refinance the house to pay off the home equity ...
Foreign Currency Exchange Feature within Remote Banking.2/5/2013
  Q: Can Foreign Currency Exchange Program Feature be integrated within Automated Teller Machine ?. This ...
  A: I would need more information to give you a more detailed reply. However, these are my thoughts: I ...
loans1/5/2013
  Q: Do I need a license to loan money in Virginia? Loans would be short term, unsecured, under $500, ...
  A: Probably not, unless you are going into the loan business full time and plan to advertrise, etc. I ...
Loan Repayment9/28/2012
  Q: I have a loan of $600000 and I have $600000 ( the same amount ) as savings. I rejoined college ...
  A: Interesting circumstance... You do not state the nature of what the loan is securing, so I will ...
loan9/16/2012
  Q: Ok I am thinking of doing this proccess for my business and would like to know if this is possible. ...
  A: OK, a little confused by your question... First you say that you have a "process for your ...
paying back a loan to obtain a credit rating8/22/2012
  Q: I have a question regarding building my credit rating. I am currently in the process of purchasing ...
  A: First, be very careful where you finance this car... NEVER PURCHASE OR FINANCE A CAR FROM A "BUY ...
Auto Loan Contract8/21/2012
  Q: I purchased a car 6 years ago. 6 months later I voluntarily surrendered the car back to the bank due ...
  A: Dayle, You have enough going on here that you need an attorney and get one fast. Usually you only ...
Auto financing8/14/2012
  Q: Hey there, you helped me previously on a auto question. Thank you by the way. I have yet one more. ...
  A: Your ability to avoid the contract could depend upon a number of factors including (a) how many days ...
Add-On Interest Rate-Calculation Method8/7/2012
  Q: In the State of Florida, a finance company claims their installment sales contract for financing the ...
  A: Bobbie: Due to the use of weekly payments, it is more difficult to determine an actual simple ...
auto loan7/6/2012
  Q: I am paying 497.95 each month for my auto loan (Honda CRV 2012) at 4.2 APR through Honda financing. ...
  A: Based on your information: Your pay off balance today is: $24,873.09 If you pay $10,000, then ...
What are my options of getting a personal loan for 4K6/29/2012
  Q: We have a 2003 dodge caravan that we have 10k left to payoff. Our rent is 750 per month, our total ...
  A: Nhemo, I understand everyone's need for some downtime and a vacation. However, that said, choices ...
Credit cards and the loan process6/13/2012
  Q: Would a $5-10K hold on a credit card be looked at when doing any type of loan processing/refinancing ...
  A: This is really going to be fact specific and lender specific... Depending on why there is a hold, ...
student loan consolidation5/10/2012
  Q: Help! I currently have approx $75K in student loans. $25K is from undergrad school and I ...
  A: Unfortunately, you find yourself in the same financial "trap" that so many college students and ...
Disability Canada Student loan Discharge4/21/2012
  Q: My sister is on Disability 2, life long. She has a 10 year old student loan. I believe she can get ...
  A: 20. Q. How does the Repayment Assistance Plan help student loan borrowers with permanent ...
start up business loan for trucking company4/17/2012
  Q: I am starting a trucking company here in Oregon. My business name is Oregon Trail Trucking LLC. I ...
  A: OK, I get this question a lot - that is, where can I go if the traditional lending institutions ...
insurance for banks3/12/2012
  Q: I wanna ask a very basic question. do banks have insurance for themselves that covers them from bad ...
  A: Ricky, Great question. The answer is no. There is no "insurance" for bad loans that the bank ...
title loan interest reate2/1/2012
  Q: I was laid off in October 2011 and needed cash for February 2012 expenses. My car was paid off so I ...
  A: http://www.azag.gov/consumer/complaintformintro.html Go to the website above and file a complaint ...
Where can I get help?1/27/2012
  Q: A banker from a Foreign Bank is willing to provide proof he is a Legally Authorized Representative ...
  A: This is most probably, and in my mind, undoubtedly a fraud. This same scenario is played out all ...
Carfinko12/14/2011
  Q: I have a question I am voluntarily giving my car back to carfinko. They will take the vehicle and ...
  A: OK, first I am not familiar with Canadian law. Secondly, some of this information may be on your ...
carfinco but out??12/10/2011
  Q: i have a vehicle that i owe approximate. $6000 on at this time. i have 2 more years to pay it all ...
  A: Without seeing your contract, there is no way of being certain of interest rates, penalties, ...
i can no longer afford my car payments, but i am not past due....11/25/2011
  Q: If I have to surrender my car because I can no longer afford the monthly payments, what's the best ...
  A: I am so very sorry to hear about your situation. However, today there are millions of people in your ...
business loans with LLC11/16/2011
  Q: since my credit score is not within the requirments to receive a business loan, if I start an LLC ...
  A: Essentially, no. You can't create an LLC and ask the bank to take comfort in a new LLC without any ...
Student loan11/15/2011
  Q: I'm hoping you can settle a dispute I am having with my friend. I recently sent off a check for ...
  A: Pride yourself on doing the right thing! Ignore your friend. The financial institution would have ...
repos11/15/2011
  Q: im furious, i tried to contact someone at Carfinco regarding my van that was repossesd ...
  A: I have had so many complaints about CARFINCO!! Tell anyone and everyone not to use them!! Call the ...
Finance loans11/8/2011
  Q: I had purchased a vehicle back in Feb. Was rushed to sign and never really looked over the actual ...
  A: As I understand it , you were given $3,400 credit between down payment and trade-in. Your principal ...
Auto finance co-signer11/3/2011
  Q: Finance Guy, My mother bought a car and put me on as a co-buyer. I am her son and the car is ...
  A: Mazda American does not HAVE to take your mother off the note if they believe that by doing so they ...
a paid off business loan11/2/2011
  Q: I sold my professional (Optometry) practice in 2003. The buyer has been making monthly payments to ...
  A: Margaret, Since you are holding all the cards (e.g. your loan has been re-paid and you are owed ...
foreclosure vs. loan modification10/29/2011
  Q: Can you explain why lenders seem to prefer foreclosure to loan modification (including lowering the ...
  A: These are interesting times, indeed... If your lender is a community bank or a credit union, there ...
Insurance Financial Guarantee bond Loan?10/6/2011
  Q: I have a client in Asia Who has recently acquired a financial guarantee Bond through a US insurance ...
  A: OK, some tough love... There are two ways this could end: 1. One, you end up wasting your time ...
Car buying8/19/2011
  Q: I am receiving a lump sum after my car was totaled. Is it better to make a down payment with the ...
  A: If you can be trusted to have money in the bank and not blow it on frivolous purchases, then buy a ...
Replace Amex Credit Card?8/18/2011
  Q: I have had an American Express green card since 1987. I pay $55 per year for it. I see now that I ...
  A: This is a common question. My answer may surprise you... I would suggest you think about keeping ...
Real Estate Loans?8/4/2011
  Q: How are you? I have 3 questions for you: Where would I go to apply for a loan to buy into a Real ...
  A: Why the interest in buying into a real estate firm? You do not sound like you have much business ...
Consulting work7/21/2011
  Q: I am working with a group on a business proposal, and am looking into a company that has expressed ...
  A: This is the time where you and your group sit down and decide if you really believe in what you are ...
Student Loans7/10/2011
  Q: I owe $64,015.00 in student loans. The interest rate is 7.000% (fixed). I pay $278 per month. The ...
  A: Lucy, Something does not compute... You did not state the term of the loan nor whether the note ...
Re paying loans7/9/2011
  Q: I had a loan with Wachovia Bank. My arranged payment was $50.00 a month. But I always made payments ...
  A: Sabina, I think your question concerns the application of the payment toward either the interest ...
Auto loans7/4/2011
  Q: I will be looking to buy a car soon, and I would like to know if I would have a better chance at ...
  A: Convenience vs cost.... Sure, you can get a car and financing at a buy here, pay here car lot. But ...
Project Finance6/2/2011
  Q: I would like to know on what basis would banks fund a project. I am looking at setting up a refinery ...
  A: If you are seriously considering funding a new refinery, then you must already have substantial ...
Car Loan Payoff4/13/2011
  Q: Is there any benefit to my credit rating if I maintain a car loan and keep paying the interest? My ...
  A: It sounds contrarian, but generally, the more you can borrow, especially if you only utilize a small ...
Inventory financing4/11/2011
  Q: Currently considering starting a small retail business. Business plan, infrastructure, warehousing ...
  A: These are "practical" in theory. The real difference will be the exact terms and conditions of the ...
Funding a small business3/23/2011
  Q: I'm 23/female and I am adamant about starting my own business. I've been researching and working on ...
  A: Before thoughts about money or business plan, you need to assess your strengths, passions, skills, ...
Bonds3/8/2011
  Q: When the Fed buys Government Debt do Wall Street underwriters receive a commission?
  A: I was told by a WS source that, yes, GS gets paid a commission, but I have not been able to find a ...
commercial property and refinance2/23/2011
  Q: I own two 2-family rental investment properties as an LLC, with a business partner. I have been ...
  A: Today, it seems everyone in business is struggling for growth capital. My suggestion is to develop ...
offering financing to my customers2/19/2011
  Q: I own a small landscaping company in PA, I have been trying to offer financing to my customers but I ...
  A: Yours is a common complaintthese days amongst small business men - no availability of credit to ...
Equipment Lease11/2/2010
  Q: I have two pieces of equipment leased from one company. One payment is made to an office in one ...
  A: It is possible that your acount was acquired by another leasing company, either because your prior ...
late payment10/31/2010
  Q: I was waiting on a credit card so I could make a payment over the phone,which i later found out they ...
  A: Not sure I totally understand, but sounds like you missed a car payment. Call the company and ...
Applying for business credit while under personal 138/27/2010
  Q: I started a small business a couple of years ago but never got off the ground. I have formed an LLC ...
  A: No bank taht I know of is going to approve you for credit, yet. You have a few years to go of ...
Auto loan - Rolled into new loan and returned7/28/2010
  Q: I live in Ohio. I had an auto loan with CNAC that started 11/2009. My car was totalled when ...
  A: Sorry to hear about your ordeal. Gap insurance (or replacement value insurance) is essential (as ...
carfinco5/31/2010
  Q: i wanted to no about car purchases if you purchase a car through a finance company who's name is ...
  A: If you lease a car, the owner will be listed as the leasing company. If you finance a car, you are ...
Financiers5/28/2010
  Q: I live in the Philippines. I am working for clients to get overseas loans as the loan system here is ...
  A: Unfortunately, the US is also experiencing a crisis in lending and the resultant non-availability of ...
condo refinance coverage5/14/2010
  Q: I recently refinanced my condo about a month ago, and one of their conditions was that I increase ...
  A: Your mortgage company is a co-insured on your policy. When your coverage is renewed or lapsed, a ...
Motorcycle loan advice3/18/2010
  Q: I am looking into purchasing a motorcycle soon and I had some questions. I apologize for it being ...
  A: If you belong to a credit union, you are a member. I would go to the credit union first, as often ...
Start Up Business w/ partner. Question about initial investment3/16/2010
  Q: I have a long time friend and former co-worker that would like to start a local delivery & courier ...
  A: OK, so you know the risks up front, that is you could lose both your money and your friendship. ...
federal reserve interest rates2/24/2010
  Q: So I know that for a while the federal reserve has kept there interest rates low, near zero I think, ...
  A: Reducing interest rates is a way in which the Federal Government through the operation of the ...
Loans2/14/2010
  Q: I am trying to solve a problem for class and was wondering if you have experience in using TI BAII ...
  A: If you are a teacher, then I would suggest using an Hewlett Packard 17BII, which is the old standard ...
The Money Store and J.G. Wentworth2/13/2010
  Q: I posed this query on Yahoo! Answers but no one has answered it. I hope you can help: Was the Money ...
  A: Interesting you ask. I once met the son of teh sounder and was heading the effort to acquire Money ...
Carfinco2/10/2010
  Q: I got a finance car loan from Carfinco this year in sept. I made payments always on time, but my car ...
  A: I am very sorry to hear about your regrettable story and horrible experience with CARFINCO. I would ...
S B loan1/24/2010
  Q: If I actually had a shop , and if I needed to buy some equipment for my motorcycle shop . and the ...
  A: No easy way to determine what is better for you without personal info. You will need to shop banks ...
not receiving financing after closing1/5/2010
  Q: We closed on a purchase of an investment property and an equity line of credit to improve the ...
  A: Sorry to hear about the situation with your bank. I would get an attorney to write you a letter, ...
Operating Capital11/10/2009
  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 loan11/3/2009
  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 financing8/26/2009
  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 loan8/6/2009
  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 financing6/11/2009
  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 business4/30/2009
  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 Up4/1/2009
  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 Shop3/26/2009
  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-off3/24/2009
  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 home3/8/2009
  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 lease3/3/2009
  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 loan1/12/2009
  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 interest1/7/2009
  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 Loans1/5/2009
  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....1/3/2009
  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 issues1/3/2009
  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 financing1/2/2009
  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 loan12/21/2008
  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 purchasing12/9/2008
  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 club11/29/2008
  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 institution11/28/2008
  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 contract11/21/2008
  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 loans11/13/2008
  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 Loans11/3/2008
  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 loan10/30/2008
  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 statement10/24/2008
  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 APR10/21/2008
  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 Loan10/13/2008
  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 loan10/10/2008
  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 loans9/29/2008
  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 Loan9/28/2008
  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 Usery9/26/2008
  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. ...
currency9/26/2008
  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 Loan9/23/2008
  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 loan9/22/2008
  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 & loans9/17/2008
  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 Repossession9/16/2008
  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 Math8/25/2008
  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 MFin8/21/2008
  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 Loan8/5/2008
  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 Finance8/3/2008
  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 loan8/2/2008
  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 store7/21/2008
  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 husband7/13/2008
  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 loan6/17/2008
  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 loan6/16/2008
  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 loan6/10/2008
  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 Bond6/6/2008
  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 Loan5/31/2008
  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 & Provisioning5/28/2008
  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 interest5/26/2008
  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 Fee5/21/2008
  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 land5/16/2008
  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 left5/13/2008
  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 ...
advice5/2/2008
  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 corporations5/1/2008
  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-signing4/30/2008
  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 Credit4/22/2008
  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 Grants4/16/2008
  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 financing4/13/2008
  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 Capital4/3/2008
  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. ...
Financing4/1/2008
  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 loan3/26/2008
  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 creedit3/24/2008
  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 loan3/20/2008
  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 Financing3/19/2008
  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 contract3/18/2008
  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 RETURN3/17/2008
  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 ...
A SITUATION TO RECOVER FROM3/15/2008
  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 Loans3/15/2008
  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 credit3/14/2008
  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 Mortgage3/11/2008
  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 loan3/4/2008
  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 loans3/3/2008
  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 bonds3/2/2008
  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 ...
auto2/23/2008
  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 LOANS2/7/2008
  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 ...
shareholders2/7/2008
  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 business2/7/2008
  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 Act2/3/2008
  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 Loan2/3/2008
  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 debt2/1/2008
  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 readjustments1/31/2008
  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 Loans1/29/2008
  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 loan1/28/2008
  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 car1/27/2008
  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 Rating1/21/2008
  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 Card1/12/2008
  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 ...
Loan Default1/11/2008
  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 ...
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 ...
Bar/Tavern Financing1/10/2008
  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 ...
forecast1/6/2008
  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 ...
Broker License12/26/2007
  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 ...
Weird auto financing question12/19/2007
  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 ...
Investment12/11/2007
  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... ...
grant info for canada12/7/2007
  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, ...
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 ...
My name was forged as co-signer11/29/2007
  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 ...
Salley Mae Student Loan11/24/2007
  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. ...
Incoporated Company Line if Credit11/20/2007
  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 ...
Financing for land purchase11/12/2007
  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... ...
Financial Environment11/12/2007
  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 ...
Auto loan in canada11/7/2007
  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 ...
gonna be a millionaire10/28/2007
  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 ...
Heloc vs. Margin10/19/2007
  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, ...
student loans10/7/2007
  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. ...
Loaking for start up laon10/6/2007
  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 ...
loans9/22/2007
  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 ...
Small Business Loan9/19/2007
  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 ...
Add-on interest APR's9/19/2007
  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 ...
Payday Loans9/17/2007
  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 ...
car leasing9/12/2007
  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 ...
Car loans for High School students9/9/2007
  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 ...
MTN Loans9/7/2007
  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 ...
Pay off mortgage programs9/3/2007
  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 ...
Franchise financing9/1/2007
  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 ...
land purchase8/30/2007
  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 ...
ESTATE AUTO LOAN8/30/2007
  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 ...
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 ...
banking regulation8/15/2007
  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 ...
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 ...
loan to get franchise8/12/2007
  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 ...
Paying for a home - no mortgage8/12/2007
  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 ...
bankruptcy and purchase of a brand new car8/11/2007
  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 ...
payday loan8/3/2007
  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 ...
student loan8/1/2007
  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: ...
cosigning a loan7/21/2007
  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. ...
Franchise loan7/21/2007
  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 ...
Payday Loans7/20/2007
  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 ...
CAR FINANCING7/18/2007
  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 ...
Who is Responsible for an Auto Loan7/18/2007
  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 ...
Interest Rates7/15/2007
  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 ...
payday loan default7/15/2007
  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 ...
refinance7/10/2007
  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 ...
Info7/3/2007
  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. ...
Student Loan Deferment due to Medical Disability6/21/2007
  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 ...
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 ...
sba loans for an LLC6/2/2007
  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 ...
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 ...
Business Equipment versus Lease5/10/2007
  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 ...
Bank error overcharge4/30/2007
  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 ...
student loans4/20/2007
  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 ...
Condo association getting a loan4/11/2007
  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 ...
Debt/Consolidation Credit Score4/9/2007
  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 ...
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. ...
Mortgage Banking4/5/2007
  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 ...
payday loans4/2/2007
  Q: are online payday loans safe?
  A: Never use payday loans!! And risky for whom? (e.g. Risk from whose perspective, the borrowers' or ...
Big Project, Lots of money3/19/2007
  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 ...
interest rates3/8/2007
  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 ...
Mutal funds3/2/2007
  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 ...
new car/lease car2/24/2007
  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. ...
question2/18/2007
  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, ...
new business financing12/22/2006
  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 ...
school loans12/18/2006
  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 ...
question on pre marriage property etc11/26/2006
  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 ...
Business Acquisition and Partnership Negotiations10/14/2006
  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 ...
Equipment Lease9/25/2006
  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 ...
failure to collect on auto loan9/12/2006
  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 ...
Small business credit9/11/2006
  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 ...
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 ...
Lowering monthly mortgage payments8/24/2006
  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. ...
Lowering monthly mortgage payment8/22/2006
  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 ...
auto loan vs. home equity8/16/2006
  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 ...
interest rate on a loan8/16/2006
  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 ...
Legal to enter into a contract8/15/2006
  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 ...
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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