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Pay Off Debt Tips
pay off debt information
Use my 401 k to pay off debt or put 401 k into my new employers plan?
I recently changed jobs and i was only able to contriburte about 3 % to my 401 k. I just recieved a check for $9200.00 from my previous employer for my 401k. I can either use the check to on my$16,000.00 credit card debt or I can give it to my new employer to put into my new 401k plan. I am still contributing about 3 %. If I pay off my debts I would be able to increase my contribution percentage. What would be better for my future? reinvest or debt payoff? what percent should I be contributing to my 401k? I'm 35.
Use 401(k) to pay off debt? ?
I am 28, married with a young daughter. I have enough money in my 401 k to pay off my student loans and all my credit cards, leaving only my car and house payments. Should I cash out the 401 k to pay these off, or am I better off paying these debts off slowly as I have been?
What to do, pay off debt or save for a down payment on a house?
I am 24 with 7k left on a car loan. I already saved 10k for my emergency fund. I have 600 dollars left over each month to put towards a goal. I want to pay off the debt, but I want to save for a down payment on a house so I can buy in a couple years while prices are so low. A mortgage would be less than my rent I have excellent credit so car loan is only about 2.9 % not bad at all for a car loan...My monthly payment is 200 a month, and I am ahead by about 6 months now because I send in extra payment when I can but that is not a consistent thing, just whenever I have some extra...
How to pay off debt??????? anyone?
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Should I use my 401K and/or savings to pay off debt?
I can pay it all off with this, its semi urgent because I am also going through some personal money issues that may or may not affect me. I hate to do it but I've had this debt for a while. Your opinions? Thank you.
Buy now? or pay off debt and buy later?
My husband & i were saving for a big wedding. We separated for a short time and cancelled the wedding. Now we are working it out and are looking to move. We are thinking of 2 options take the savings, pay off our debts, and save for another yr while renting, then try for a mortgage in 2013? Or use the savings as a down payment for a handy man special and pay off our debts with the extra income we will have cuz the mortgage would be just half of what we pay in just rent now. Btw we live in nj and any links would help. he has good credit but unemployed and on unemployment. My credit isnt the greatest but I have a steady income and can transfer with my job, im a nurse so my company I work for can get me work close to where we live.
How to pay off debt and repair credit score?
I recently inherited a substantial amount of money and now have the financial means to pay off my debt.I have about $17,000 worth of bad debt that shows on my credit report in the form of judgments, charge offs, collection accounts and such. This debt is from miscellaneous sources such as utility companies, credit cards, merchants and a small student loan. It also includes a judgment from an eviction. All this debt is 4 to 7 years old. Many of the accounts have been bought and sold more times than I can count. Even trying to find these account creditors to pay them in the first place looks very hard.I would like to pay off all my debt and get negative items removed from my credit report.I would love to hire an attorney to assist with this if need be. What is the best way to deal with all this?
Is it dumb to pay off debt right now?
Inflation is supposed to go sky high....if you have a 8 % loan and like 10 % inflation, don't you make money by not paying? Or am I missing something?
I'm renting a room with my friend and have sold my house to pay off debts. Im 49 and earn £12000 a year?
Sell my car to pay off debt or keep it?
I have about 10,000 dollars in debt n am debating on if I should sell my gas saving car? the catch is I have two vehicles, one gas guzzling suv n the other a small car. I put both on craigslist n got an offer of almost 10g for the car n no serious hits for the suv could prob only get 7000 or a bit more for it. should I sell the small car to rid of my debt or lower my price to realistic number on suv n see if I can sell it? just don't know what to do as I have interested buyer ready to pay my full asking price on car?? help.
Paying off debt through collection agency can they garnish my wages?
I have been paying off my debt through a collection agency, every month I pay something to them. I started a new job and trying to get ahead on my bills right now and need to cancel a payment this month. My worry is If I do this this or they feel I am not paying enough every month they will try to garnish my wages. Can or will they sue someone who is paying them every month? I have read it is expensive for them to sue people to garnish wages so it is a last resort, is this true?
Paying off Debt, more questions?
Every time I ask a question on here I end up with more questions lol.Ok so somebody just said on the last question I asked that a collection agency will take the remaining balance after I settle with them, and count it as a buisness loss so that the IRS sends me a bill for the rest of the amount at the end of the year... is this true?Next, i thought that if you pay off your debt that your credit score will improve but somebody just answered on my last questions that no matter what I do with that debt, my credit score will stay the same so I might as well let the oldest items fall off and pay the newest items. I thought that if it shows that you haven't paid and it falls off, your credit score goes down even more? Can somebody please clarify this.Also, does it make a huge different if I pay in one lump some versus a payment plan?
How to improve credit after paying off debts?
I recently paid off a couple of credit cards that had gone into collections. I know it will take 30 90 days before my credit shows the accounts have been satisfied.What are some ways I can now improve my credit score and how long will it take to reflect positives on my credit?
Question about home loans and paying off debt?
im in my low 20's and live at home. my question is can i get a home loan for either a house or condo that is a little more then the house or condo that i want to buy and use that to pay off my car and credit card debt?im assuming it will be the same answer but what if i add in what i have left on my car? to the home loan instead of my credit card?thanks guys... that sucks.... looks like im not going anywhere.
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