Bad Credit Low Interest Loans News, Links and Answers

Voting Question: I need a loan but have HORRIBLE CREDIT? Any Ideas?

Ok! here is my situation. Like alot of people, I have incurred debt! Debt that I can't seem to ever pay! I have worked tirelessly to get the money to help pay off my debt! However, every time I get some money to be able to pay "something" on my debt, something else comes up such as: Car repairs, Rent, Food more so medically and educational wise. I also owe the state because they claim i did not have insurance on my vehicle which i have and my insurance company as even gave me a certified letter stating that i was lawfully paying insurance on time. However the state didn't want to see a letter, they wanted a form which my insurance company will not give me because i was out of state at that time. I am struggling just trying to pay something on my debt. I know this may sound bad, but ALL i want is a loan that will pay off my debt but yet makes things into a monthly payment and I can live my life free and happy. I know most if not, all of it is my fault but I can't work two-three jobs anymore to get the money that isn't going to pay off the debt. My money is going into gas to get to/from work, rent, food and any repairs, whether its where I live or the car I drive. Does ANYONE have any ideas or suggestions? My credit score is LOW and at this point, I don't care if i have the high interest rate. I just need the help and loan to make it one payment and my debit cleared up and I can live a life that I can't seem to live.... HEEELPPP! PLEASE more

Resolved Question: Better interest rate for second auto loan?

I paid off an auto loan of $11,500.00 over a year and a half ago and want to get a second car now. I made all my payments each month on time and paid the car off almost 1 year early. The lender I had was basically for people with bad credit and the interest rate was very high at 23%. If I try to get another car, will I be offered a better interest rate since I had a good history with paying off my last car? I still have a low credit score of 554 but have been trying to rebuild my credit by paying everything on time... more

Resolved Question: We offer loan at 4% interest rate?

Wipe away your debts today with no upfront fees to collect a loan. We are Sify Finance Company and Investors Comapany, a private and a certified financial company in England that gives loan to both individual and corporate body for just 4% interest rate. Our financial company have now been approved to give out International loan. Sify Finance offers Personal Loans, Secured Loans, International Loans ,Bank Loan, Loan Company, Cash Loan, Small Loan, Bad Credit Loans, Low Cost Loan, Home Owner Loans, Home ,Real Estate Loan, Improvement Loans, Equity Loans, Low Interest Loan, Best Secured Loan, Low Cost Loans, Bad Credit Finance, Secured Homeowner Loan, Cheapest Loan Rate, Budget Loans, Finance Loan Money, Best Secured Loan, Low Cost Home Owner Loan, Direct Loans, Secured Home Loan, Bad Credit Debt, Consolidation Self Employed Loan, Personal Loan Broke, Loan Application Form, Credit Card Loans, Horses Loan, House Loan, Interest Only Loan, Internet Loan, Joint Loan, Lifestyle Loans, Real Estate Loan, Cheap Loan Rate, Secure Homeowner Loans, Secured Bank Loan, Secured Finance Loan, Secured Financing, Secured Home Equity Loan, Homeowner Loan Application Form, Homeowner Loan Rate, Homeowner Secured Loans, Instant Decision Homeowner Loan, Instant Homeowner Loan, Personal Homeowner Loan, Refinance Loans and Personal Loan Bankruptcy etc. Come to us today and we will save you from any financial stress. Whatever your finance requirements, a loan from Sify Finance can always provide you with a competitive quote to provide you with the extra money you need. Talk to a Sify Finance company to discuss your loan requirements and they will work with you to understand your financial needs and will then find you a fund loan with the best possible terms and interest rates available to suit your circumstances. Your finance loan application will be processed quickly and a decision given as soon as possible. Once your finance loan has been approved the money will be transferred to you and you can then spend your money as you wish. You can contact us through moneyloan@sify.com and call us on (+44) 703 592 3302. Best Regard Sify Finance Company. more

Resolved Question: My husband and I are trying to buy a home for the first time have bad credit and low income what should we do?

It seems like we are never going to be able to get a home loan! I have repaired my credit but my husband is the one with the job and has no credit! We want to buy the current place we have been renting from the last 4 years! Our Landlord have came to us first because they knew that we were interested in buying it! I just don't know what to do we are living in a 2 bedroom and there are four of use Me , MY husband, son and daughter we need a place and soon! more

Resolved Question: Qualifying for a mortgage loan?

Qualifying for a mortgage loan? My fiance and I would really like to purchase a home in the next few months (preferably before December 1st to get the first-time buyer rebate), but I need to know what our options are. Currently my credit score is 650, but is rising slightly every month. The only debt I have is federal student loans (about $8500), which I pay on time and more than minimum every month. My car is paid off, I have no CC debt, etc. I also don't have any open accounts other than the student loans, so my credit to debt ratio is bad. My fiance went through a divorce and his credit is all but destroyed. His score is 559, and I've just begun to start helping him repair it. I'm positive we can raise it in the next few months, but not enough for it to be considered "good." My documented gross income is about $28K (I also have some under the table income, but no way to show this). My fiance's income has taken a big hit this year--on last year's tax return, his gross income was $59K, but as of now, it's looking like he'll finish this year at about $44K. Still a lot more than mine. My credit is better than his, but I don't think there's any way I can be approved for a loan with my lower income. I need his income, but with his horrible score is there any loan we can be approved for? I know we can be approved with a 20% down payment and high interest rates, but we just won't have 20% ready before December 1st. We can for sure have 5%, and perhaps 10%. What are my options? more

Resolved Question: Need financial advice (loans) as I've gotten myself in a pickle?

Ok here's the worst thing: I defaulted on a car loan. I already had bad credit. Capital One financed me for a 2004 jeep with the initial cost being around 18,000. The first year went by fine, no late payments. Second year got sticky had some late payments, then later on in the year got 4 months behind when I left my ex. They took the car back, and then sold it for 6,000 at an auction. I owed 12,000 when it was sold to one of the credit company things, where they charged me 1,000 a month for each month made without payment. I have been paying now since April 300 a month. Bad thing is, my interest rate take 220 of that payment, and I now owe 16,000.00 on a car I don't have. They have offered me a settlement of 6,565.00 that I would love to take, I don't have any rich uncles that I could borrow from, so I'd like to take out a loan. My credit score is now 602 (I've actually been improving it) so what do you think I can do? The 300 a month is going to get old fast seeing as I'm hardly paying anything above the interest. I will take out a 1,000 loan from a loan shark just to improve my credit some more and give me breathing space. Any loan officers with advice for me? Do personal loans even exist right now? I don't own a house, and I make 26k a year. Even if you know the loan shark information, if their interest rate is lower than 20.9% that'd be helpful!I bought the car when I was married, and our income was over 50,000 a year lol... I got divorced the next year, sorry if I didn't mention that?Perhaps actually answering the question instead of meaningless opinions would be helpful in the future.They are threatening to sue both me and my ex for the 16,000.00 and my ex was actually the primary signer on the vehicle. But I signed a contract with him because this vehicle was for my use and my responsibility. He got a car too, and is still making his payments just fine, I am the problem and I don't want to cause anyone any more trouble. more

Resolved Question: any parents going to school here?

I am currently a full time college student and a mom of a 9 month old baby girl residing in southern California. . I attended college starting spring 09. My husband is a half time student and he also started college spring 09 with me. We both were only eligible for 1750 dollars each for subsidized loan. ( if i am not wrong its the loan when government pays for the interest while i am in school) This upcoming fall session we are going to have very hard time making it through financially. My husbands job cut his hours and its very difficult for him to get a second job. I also am looking... well enough about my situation why I am looking into getting a full loan this time. I looked into the edfund website and it says my husband and I can get upto 9500 (subsidized, unsubsidized ). If we put our loans together its enough to pay off one of our car which we still have about 14000 left to pay off. Interest rate for our car is almost 17% due to poor credit. we pay 400 dollars every months. with the money we have left from the loan I was planning on paying off all the credit cards. I have not done number to number calculation but interest rate on the loan is much lower and the paying off period is 10 years so the payment shouldnt exceed 200 dollars per months for both of us. is eliminating my payments by my student loan help us in the long run? I know for a fact that we can pay off our car and all the credit cards that we have. which is about 500-600 less to pay every month. ( I can really use that money to buy my daughter some toys and clothes that I havnt been able to buy at all...) Student loan just sounds too good to be true to me. is there anything I am forgetting that I should be aware??? I am working on my RN associate degree and paying it off slowly doesnt sound bad at all... any advise or comments?? or even own experience?? more

Voting Question: Should I pull out a student loan?

Resolved Question: What credit card do I have a chance of getting with bad credit?

my credit score on experian is 524, I am looking for a credit card with low or no initial fees or yearly fees but I can have a high interest rate because I plan on paying it off each month to build up my credit. does anyone know a card that would be most likley to approve me with this criteria? I was pre approved for first premier bank card but with all the fees it ended up being 250 - 300 debt before I would even spend a penny on the card. and thats before eve n knowing the balance. im not looking to go into more debt, Ive been paying off debt I had from 8 years ago, for about a year now on a debt consolidation plan. for some reason it didn't start showing i was paying current till january, even though I have been paying on the card since july. I contested the charges of being late paying and even called my debt consolidation organization to see what they can do about it. my credit score SHOULD NOT BE AS LOW AS IT IS! the reason I want the credit card incase you are wondering, is I have to get a rental car and all rentals require a credit card. also we are short about $200 for our vacation because we didn't budget having to get a rental. we are going to ride down with a friend to san antonio but now she has decided not to take her car. she doesn't have good credit either. about as good as mine. so I cant have her get a rental. this is why I cant get a prepaid card right now, I know they build on credit, I would like to get one, but you have to put money upfront and my money is going to be tight until half way through our vacation on the third when my hubbie gets paid. then well have more than enough to pay off the the credit card dont want to be condsidering pawning or payday loans because the interest is so high even when you pay on time unlike a credit card and for any one who wants to be captain obvious and say shouldn't of had bad credit to begin with and you wouldn't be i this mess...you are preaching to the choir. i ought to have know better but have since learned my lesson and am diffinalty paying for it for an entire year now I have been paying 400 a month toward old credit card. whats your smart butt remark compared to that? wow, I said alot, hope this explains everything. only looking for credit card solutions at this point, if you dont have3 any, dont answer. thankslol, im not a dude, I realized im on his account, but im a girl. rolf more

Resolved Question: I asked a question on getting a loan and have received 5 or so answers that.....?

Tell me to contact a person with a yahoo email address and say they got a great loan with a 2% interest rate. Does this seem like a scam? Here are some of the replies.. "I am Joy Anderson i was in need of a loan of $100 000 USD and was scammed by those fraudulent lenders and a friend introduce me to Mr John clarke,and he lend me the loan without any stress,you can contact him at clarkeloanscompany12@yahoo.com" "I applied and was approved for one of your loans yesterday and I wanted to write and tell you about my experience. My loan agent, Mark M. was amazing! He handled everything very professionally and quickly. He was extremely patient, helpful and very courteous at ALL TIMES. There was NO STRESS or pressure what so ever. He walked us through the whole procedure and made sure we understood each step before moving on to the next one. I ended up having to call him back with a correction and he took care of it immediately. He was just a true joy and I just can't say enough. I hope you will give him the recognition he so deserves because it has been a very long time since I have had wonderful service like this! This was a totally stress free and wonderful experience! here is there email, john108023@yahoo.com.hk Thank you Mark!! Yours Truly, T Matthews Sr." Here is one from him himself..... "I am Mr. John Clarke, a Reputable, Legitimate, Certified, Reliable & an accredited money Lender. I loan money out to individuals and corporate bodies in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? I want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest flat rate. What did your bank say concerning having a loan from them???? Don't feel disappointed if they refuse granting you a loan. I hate what the banks do when customers/consumers are willing to lend money even with collateral and valid documents. I look forward permitting me to be of service to you. Send me an- E-mail me by replying to my email clarkeloanscompany12@yahoo.com and I'll do my best to help you out in your bad finances situation. Regards, Mr. John Clarke." It just sounds fishy to me. I'm looking for a home equity loan or 2nd mortgage to help pay off some medical bills and for some extensive dental work for my son. Would also like to have some in savings for emergency. My wife and I have a low credit score due to a injury about 4 or so years ago and not being able to work. Most of our income go towards helping our son receive services to help him succeed as he has a disability. I am now back to work and my wife continues with her job as a teacher. We also have our house paid off in full and have no credit cards. The only debt we have are some medical bills. It just seems weird how some people have replied with a few different email address about this guy in my other questions. I guess if I read the paperwork thourougly and have a attorney look at it I should be alright if legit, correct?Thanks for the answers. I emailed the person with a email address I just created. It is someone from nigeria asking info such as name, address, phone number, and ssn if applicable. It is a total scam for sure. I also read other questions on here similar to mine with the same sort of responses. If it sounds to good to be true, it usually is! That's kind of what I figured but thought it was worth asking. I'm going to talk to my local bank, explain my situation, and hopefully they can help or point me in the right direction. Thank you everyone!The name of this guy's company is... Clarke Loan Firm located in Nigeria. Millions of spammers from there!Here's a link to my original question if anyone is interested....... http://answers.yahoo.com/question/index;_ylt=AlrCA7GWy7HTSNzeEl7kTHvsy6IX;_ylv=3?qid=20090611233627AA801O6 more

Voting Question: Auto loans CAn i get accpeted for 7000?

I was wondering if i would be able to get a auto loan for 7000 from Bank of America Or chase or wells fargo or any bank that would accept me but i have a bad credit cuz of fraud and my credit score is 500 sumthing i know my interest wont be as low but just wondering if i can get the loan for less than 19% interest? thanx for ur help Oh and im from Los Angeles CA more

Resolved Question: Auto Loan with Bad Credit? Help!!!?

I'm looking to get a new car. I am 20 years old. I make currently around $1200-$1400 a month. My fico last time I checked was around 570 only due to a credit card I got when I was around 16 so this debt is over 4 years old. I do have a co-signer but her fico is lower than mine 560 but makes about $4000 a month. I was thinking it would be better to try to go to an actual dealership and get a special financing rather than going through roadlaons..etc a place that gives loans automatically for bad credit. My questions are this what are my chances at getting an auto loan? What could I expect my interest to be? Thanks everyone!Also I forgot to add I plan to put about 1-2k down on a car that is around 8-12k. Thanks! more

Resolved Question: Loans For Unemployed - U.K?

Hi, I've been asking around for some time now and only found one lender called FLM Loans, who have happily accepted my application along with a guarantor. BUT, for a loan sum of £3,000 they want in return £2,000 interest. Making a total repayable of £5,000. I am unemployed, with no bad credit history, and living with parents. Can you recommend a loan company that I can check out that will give me £3,000+ with low interest? I was hoping to get around £5,000, and repay around £6,500 over the course of 24 months. Regards.No, no no, the loan will be payed back within 6 months, I will have the full ammount by then. Don't worry :) I just don't want to pay £5,000. + Fee for early payment. more

Resolved Question: Preparing for Auto Loan?

I have just about paid off my car, and will want to buy a new car later in the year. My credit score is in the low 500's right now, and husbands is in low-mid 600's. I'm trying to pay off some of my credit card debt (I have 3 cards with about 2300.00 in debt), and our secured installment loans (have 4, at around 4000). We only like around 5 more months to have the installment loans paid off and the cc debt paid down (not off). I'm trying to do all this to have a better debt/income ratio. I think my vehicle will be worth around 4000 at trade in. We also have a mortgage (175,000) and another auto loan (24,000) and have established credit for 10 years. Bad thing is we have a bankruptcy that is 6 years old. What are my chances of getting an auto loan? I know that the interest rate will be higher than I'd like, but I just don't want to deal with the hassle at the car dealership and them trying to get me to buy a different car.... We make 75K per year. ADVICE PLEASE! more

Resolved Question: Best place to get a Bad Credit Car Loan?

What is the Best place to get a Bad Credit Car Loan? I to a car lot and the banks were giving me an outrageous interest rate. So I want to go through a 2nd chance car loan place, they are all over the internet, but I want to make sure I go to the right one so my credit does not keep getting ran. I have a low credit score due to I have never used a credit card and I have minimal debt, less than $1000.00. I make around $5000.00 a month. more

Resolved Question: Refinance vs foreclosure of ex's house?

Long story, please take the time to read. My ex-husband and I have a home mortgaged in both of our names. We have been divorced for five years, but he is unable (or unwilling) to refinance the home on his own (or with his new wife he married in March). On Friday the wife called me and said that they were contacted by someone who could help them lower the house payments by re-modifying the mortgage to give them a lower interest rate. They were contacted because he has been late on the payments and is a few months behind. The only catch is that I would have to sign the re-modification papers with him. The wife said that if I don't sign these papers, he will have to file for bankruptcy. Then he will keep the house anyways because it is his primary place of residence and the courts will lower the payments to something that he can afford. The thing is, we just signed re-modification papers is November to put the unpaid past due balance back onto the principle so that he would be considered current on the mortgage. And before that in February of last year I loaned him $1400 to help him get current and pay past due payments. When I gave him the money in February, I thought that it would be the end of it, then I found out in September that he had had some kind of surgery and had missed some payments because he had to miss work. So that is when I agreed to sign the re-mod to get him back out of the negative. I thought that when I signed the papers that that would be the end of it. Now here it is only six months later and he still can't make the payments (they are about $730/month now). I have done everything I can to try and help him keep this house. He doesn't want to loose the house, but I don't think he should keep it if he can't afford it. I am not unwilling to sign the re-mod, but how is this going to look on my credit when I go to but a home for my family? I currently live with my husband and three children in my father-in-law's house, rent free. I have all three children (6 year old girl, 3 year old boy, and 4 month old boy) in one room. I was planning on buying a house sometime in the next year. My current husband's credit is not going to help since he filed bankruptcy and has a home foreclosure on his credit from his divorce in 2004. The best solution in my opinion would be for my ex and his wife to refinance the home and get my name off of it all together, but she has bad credit (from her previous marriage) and an unstable work history (she won't keep a job). So my question basically is: Which is better? Having a mortgage already on my credit (one that may be delinquent), or having a foreclosure? Should I sign the re-modification papers or not? more

Resolved Question: Preparing for Auto Loan in future?

Resolved Question: Help with a car loan question? I work as an independent contractor & I do have a cosigner?

Ok so here is my situation: * My credit is kind of bad in the low 500 so I understand I could be looking at a high interest rate in the 20's. * I work as a full time Nanny and bring in monthly about $1800-$2000 so I report my income on an I-9 tax form at the end of the year and this will be my first year. * I do also work for my college during the fall & spring semesters which I bring in about an additional $300 a month. * I can only put around $500 as a down payment as my car I bought from a "buy here pay here" places just died on me only after having the car 2 years (exactly a month after I paid it off) so I don't want to go back to one of those places and was told it couldn't be traded in. * I do have a cosigner my sister who's credit score is above 650+ and we've discussed this issue thoroughly. * The 2 cars I am looking at is around 10k from a dealership which is a new car & a used car. * I can also make a car payment that is around $300-350 in addition to my insurance that I am already paying. How do I go about seeing if I qualify for a loan? Do I just go to the dealership? or do I look for a loan first? Is it easier to get a used car loan or a new car loan? more

Resolved Question: Auto loan with 8% interest?

My Navy Federal Credit Union bank offers auto loan with 4.50% interest rate for excellent credit or so borrowers and for me as a so and so credit (I have been using my first credit card for 9 months) it will be with 8.00% interest. Is that a fair deal or bad for me? I know that our economy is in a down time with banks starting to lower interest rate and such... more

Voting Question: How can I get off a loan with the ex husband when he won't let me?

Short version: Got a divorce last year but it was finalized end of March 2009. We agreed to keep the house until the market was better and sell it and we both would pay half for the house and we both agreed that the ex would look for a roommate to help pay for the mortgage. House has 3 bedrooms and a basement with a full bath. We rented out the basement for 3 years to a friend, so it is very livable. He has a daughter who has one room. The other 2 are his. We rented the basement out for 600 before. When I decided to leave him for many reasons, I was jobless. I got my accounting certification but he told me to stay home and be a housewife. So when I left him, I was jobless, tried to find a job to help pay for the mortgage. Now Im working 2 low paying jobs to try to pay him for our credit cards, his car payment, the mortgage, etc as agreed on the divorce papers. I just wanted to sign the papers to get out peacefully. The divorce wasn’t ugly but his friends were mean to me. I am not allowed in the house, so he says. I own half of the house. I told him to find a roommate, sell it, move out and I’ll move in cuz I have 2 roommates. I am having an extremely hard time making the payments. For the month of May I only could pay him half of the requirement. I have to pay my own bills, pay rent, etc. So Im really struggling. He communicates with my parents. He told my mom that I didn’t pay him last month. He shouldn’t involve my parents in OUR problem. He wont communicate with me about money or the roommate situation. I know of 2 interested roommates that would move in but his daughter (15 years old) is living with him because her mom kicked her out cuz she ran away TWICE in 2 months and dropped out of school 3 times at 3 different schools all in 3 months. She got arrested for smoking dope and shoplifting. This is one of the reasons why I left, he wasn’t taking responsibility. SO no one wants to live there because they don’t trust her. So why am I getting punished? People are telling me that I shouldn’t be paying HIM. BUT my name’s on the house, if he doesn’t pay mortgage then I’m screwed too. He wont buy me out. He tried to refi by himself, couldn’t get approved. He wont sell because the market is bad and we owe 340k on the house. It was appraised for 390 in Oct 2008 but the houses around our house is selling lower than 340k and they are nicer than ours. So he’s afraid that we will have to owe money after selling for much lower. I want OFF the mortgage, the loan, OUR bills together. My name is not on any of the credit cards anymore, that’s what he says. He did offer me an offer IF he got approved for the Refi himself which was to sign the house off and pay him $6500 for all the bills – my part. And walk away with nothing. But he wasn’t approved. So now Im stuck with paying half of everything and im not even “allowed” in the house. What do I do?? ThanksI dont want to get lawyers involved because it costs $$ and we both agreed at the start that we wanted to do this in a civil way and Im trying to avoid lawyers at all cost. more

Voting Question: What's the best way to get rid of my debt?

I am in a bad situation right now. I have a lot of debt and it's not even my fault. I know I'm responsible for it legally. I loaned my friend some money using a credit card advance so he would not get evicted and to take care of his car note. Now I was not expecting a lump sum anytime soon. I got a notorized promissory note with details about the payments each period and I'm in the process of taking him to court since he feels like he can just give pay be back at his accord. However, I just started a new job and I don't want to be taking any days off so soon especially in this recession. He is always talking and his problems but he never has any documents or receipts to back up his stories so I know his lying. Anyway I'm trying to minimize my debts. Would it be a good idea to get a small loan from the bank to handle my credit card debt. I know banks are not giving out personal loans now. I was thinking sometime early next year in 2010. I would have been content with making payments to the credit card companies but one of my credit cards has an APR of 19.8% and the rest are 12% or lower. So I think it's better to get a small loan if I get approved so I can save some money from that high 19.8% interest. more

Resolved Question: Student Car Loans With bad credit?

Ok so Ive always work but i was off the books so i decided to get a job that pays on the book for the summer. I really need a car loan. I am a Foster Child so i don't have anyone that can co sign for me. I also have a poor credit score and im slowly fixing it. When i was 18 i had a credit card.I have saved up 7,000 dollars and the car i want is 10,000 so i need a loan for 3,000. I need a low interest. Is there a company that specializes in Loans for student? Is there even a way that i can get approve for please. I really deserve this i just need a little bit of help..I have poor credit more

Resolved Question: Any Success With Capital One To Lower Your Interest Rate? =S?

Just called capital one to see if I could get a lower interest rate. It's 15.3% around average. I was told I couldn't get it lowered right now and that I've been a very good customer. I had always paid my bill in full, so I never cared about the interest rate even though I knew what it was. But last month some unforeseen finances had to be taken care of and I used my card. Well I had a $810 dollar bill, not so bad. I knew I couldn't pay it all sooooo I paid as much as i could. Now a month later I owe $270.84. I was charged $7.84 in interest. Not so bad. It'll all be paid by the due date, but I just don't want them making money off of me, even if it is 8 bucks. lol That's how they get rich!!!! Yes yes I know I know, buy what you know you can afford. I do that religiously. This is my first time ever having to pay interest and I've had my card since I was in high school, and now I'm heading to my second year in college. I have a really good credit limit which keeps me way under 30% of the limit. So im very responsible and I guess what I'm trying to ask is basically anyone had any luck with capital one? Never had any problems with them myself, other than refusal of my interest rate. I'm going to assume its cause of how everything is right now, with people losing jobs, and defaulting on loans, cards etc. But don't worry the remaining $270.84 will be paid WAY before the due date which is June 6. <--- Plenty of time! I'll send it off around the 25th of this month. I usually send it off at least 2-3 weeks before the due date. That way I can get online and double check that the payment was received. I pay all my bills early. It's easier and hassle free when it's all said and done. Plus I have a really good credit score. 750+ with the other 2 bureau's slightly off. =D I guess start out young while you can. The only debt I owe is that Capital One bill. I try to control debt not let it control me. That includes other loans. I'm pretty sure I won't be carrying a balance anymore, unless its absolutely necessary. Hey, cut me some slack, I work all the time an go to college. lol Somethings I just can't pay with cash. Got to take care of the necessities first. But having a lower interest rate will be better in case I have to carry a balance in the future, even though I've always paid in full accept this one time. more

Voting Question: Will I have a lower interest rate if my co-signer has bad or no credit?

My credit score is about 650 and I have 2 potential co-signers, one with a credit score in the 500's and the other with no credit, will the interest rate on my loan be lower with either of theses or am I better off getting the loan by myself?The loan is for $7500... both of the potential co-signer make the same ... about 30,000 a year. more

Resolved Question: I have a capital one home equity line of credit, variable rate. How high or low can they fluctuate?

That's what I'm nervous about. My interest rate is right now at 6.5%, and because the economy is so bad that's most likely why. However as the economy rebounds, which it eventually will, I'm sure my interest rate will jump. However that worries me because I'm not sure how much I'm then going to end up paying. How high or low do they usually go? I mean I just don't want to worry. I can lock it in if i wanted to, but then my line of credit would turn into a loan, and I wouldn't have the option of taking more money out, which would honestly defeat the purpose of taking out this line of credit in the first place. Anyways, any advice is greatly appreciated, thanks. more

Resolved Question: Best way to refinance auto loan, St. Louis, MO?

Hi, I want to know whats the best bank or credit union to refinance my auto loan. Currently I pay an interest rate of 13%. Which financier or credit union offers most guaranteedly a reasonable low interest rate auto refinance option for both good or bad credit score? I live in st. louis 63132. more

Resolved Question: I'm trying to buy a house and want to know if my debt looks better on credit cards or personal loan.?

I am a young professional with a steady, fairly well-paying job in the education profession. I'm settled career-wise and am looking to purchase my first home by the end of November. However, after surviving a period of being unemployed a few years ago and grad school, I have a a credit card debt of $6000. I have no money for a down payment. I have an excellent credit score. I know my student loans and car payment are considered "good/ok" debt, but my credit card is "bad debt". Although I am working a second job to pay it off, will it look better to a mortgage company to have that debt on a credit card or should I transfer it to a low interest personal loan?I work 50+ hours a week at my first job and I waitress all week after my first job, so I am making good money and DON'T need ANOTHER job, particularly a job working from home. I'm looking for credit advice...trust me, I'm working my butt off... more

Voting Question: When is it "ok" to just give up trying to pay all your bills and file bankruptcy?

I have a family, we don't charge anything anymore. Been paying on these bills for several years. Make good wages, all goes to credit card payments. Have about 120 bucks a week for groceries, gas, entertainment. I'm gonna whine here a bit so bear with me, I have made bad decision with my finances, put money into our house that is now maybe worth what we owe on it....Is that any different than the banks making bad decisions? You know, the whole bailout thing. Where's mine? Or at least a low interest government loan.Madoff, i agree with your comments. My house is not the issue.I give 65k for it with some land. My wife and i make that much per year. I don't think i'm house poor. We all make bad decisions in our life. And i would be glad to pay my debtors back. But i can't do it with 20% interest. more

Voting Question: 18yo + Credit card = Bad idea?

I'm 18 years old, I work full time in a debt free private company, I make over 35 grand a year and I'm in a very stable position in assistant management. I'm looking to set up a good credit history as I'm planning to move out later this year, also as I intend to take out a car loan in the next year. I've found a good low rate card, the Westpac 55 Day Mastercard - it has an interest rate of 11%pa (unless of course you pay the full balance within a 55 day period) and an annual fee of $45 (however waived if you spend over 15 grand on the card). What do you reckon? I think a one-two grand limit would be easily payable on my salary.- Also, I live in Australia, so don't forget that :) It's actually quite relevant and important when reffering to money and banks. more

Resolved Question: Is it better to get a personal loan or credit card?

I got a bad deal with care credit and realize i will be paying a $5,000 balance at 22% interest. Would it be a good idea to pay that off with a personal loan, or put it on a credit card with a lower interest rate? My husband and I have decent credit and never pay late. We have one credit card with a $3,000 balance right now with a 10% interest rate. we would like to put the 3,000 and 5,000 on one card or loan, so we dont have several payments. Just trying to figure out the best thing to do so we dont owe forever! more

Resolved Question: Help,i wrote this letter to bank explaining my tough battle with money situation.Please correct my mistakes?

(My situation is that i had two jobs, One at retail store with commision, other one being a bartender.With the ongoing recession,my bar laid me off,second job at retail store with commision is terrible coz of hardly any sales.. My mortgage interest rate is 6%, and i want to request bank to lower interest rate. Because monthly i pay over $2500, and been struggling because of hardly any savings, and the above stated reasons I have been paying partial utility bill payments but have been good with my bank with mortgage payments and been always paid on time, infact when my mortgage agreement started i used to pay $200 more, then the usual payment, just to be ahead of my mortgage payment. THIS IS THE BODY OF THE LETTER I WROTE, PLEASE CORRECT ME IF THERE IS ANYTHING WRONG OR HELP ME REITERATE MY SENTENCES, THANK YOU VERY MUCH. I am writing this letter to explain the unfortunate set of circumstances that have caused me to become nearly delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to lower the current interest rate on my loan that has resulted me in losing nearly all my savings.My main goal is to keep my home where i support my younger sister and my parents that i support back home in Puerto Rico. The purpose of this letter is to request your kind assistance in helping me get through a period of temporary financial hardship. I have been working two jobs to pay my bills, one at the Bar, and second at the retail store highly supportive with commission. After being laid of from the bar since january of 2009, and losing nearly half of my commission at the other job because of the bad market, my income has decreased significantly which even forced me to give up my car last week. Soon after losing nearly all my savings by now,I have fallen further and further behind my utility payments where i have been making partial payments since February, 2009. I even tried selling the house, but the price has gone down significantly. Now, it’s to the point where i cannot afford to pay the current interest rate what is owed to Washington Mutual. It is my full intention to pay what I owe. But at this time I have exhausted all of my income and resources so i am turning to you for help, and decreasing the interest rate on my mortgage can help me tremendously. I have been a valuable customer of Washington Mutual since the past 2 years, and timely payments with them demonstrates my value as a customer. I also believe that my credit rating has increased since I originated this loan.We would appreciate if you can work with us to lower or delinquent amount owed and or payment so that i can keep my house and also afford to make amends with your firm. Thank you in advance for your attention to this matter and please do not hesitate to contact me if you require further information. more

Voting Question: Deciding between two schools?! Help, please.?

I've been accepted to John Carroll University which is a small liberal arts college in a suburb of Cleveland, Ohio. It's a good school, but upon further reading on their site, the tuition payment plan is whacked. To reside on campus, my mom and I would be responsible for slightly over $1,180 a month for the 10 months of the academic term.To commute, it'd be somewhere in the ballpark of $858 even with the little money the school's given me because I do not qualify for any federal aid. And I don't want to take out many or any loans if I don't have to. I'll still be a minor when I start school in the fall (17), and the loans would have to be in my mother's name and she has bad credit so the interest may be high and I would rather not have my mom in even more debt for the sake of my education. I've recently started hearing some rumblings from people who once went to the school or attend there now and I don't like what I'm hearing. Basically, they say the school isn't known much outside of our neighboring states which could hinder you when you're looking for a job or applying to graduate school. The other school is a public school in Athen, Ohio. It's Ohio University and because of recent developments, I applied there yesterday and I'd missed most, if not all of the priority deadlines, but I was assured by 2 people that work in the Undergraduate Admissions office that there were slots left, but I'd have to take whatever money they had left if I was accepted. But, I do not know if I will get accepte, though. I've gone on websites that tell you your percentages of getting in and they say I should be able to on my grades and I know my ACT score was higher than most (they listed the average on their site), but my GPA is lower by 2 tenths of a point and I'm worried I won't get in and would have to reapply for spring and I don't want to do that. And if I do get in, I'd have to live on campus and that costs about $17,000 for room and board, tuition and books, less than half of what it'd cost at the first school. So, should I hold out for the public university and hope to get in or just go to the private school that's going to be a killer to our pockets? Personally, I'd rather go to the public university because it's bigger and more known even outside of the neighboring states of Ohio. But, I don't know what to do. Advice? Please? I'm really worried I won't be able to go to school this fall and I REALLY want to.And is 2 tenths of a point from the average GPA bad? more

Resolved Question: What is the best private loan?

I need a lot of money to pay for college. I already applied to all the scholarships I qualify and I'm still waiting for the replies. Suppose the worst that I don't get any more grants or scholarships and I need to get 15K for the first year of my college. I am not eligible for any more federal loans. My parents are reluctant to borrow money for me but they are willing to cosign. What is the best private loan with the lowest interest? My parents want me to take out a loan with my name. Are there any loans that requires no cosigner and no credit? more

Voting Question: Refinancing a Primary Residence House as a Rental?

I bought a house last year as my primary residence. I lived there for about a month, and had to move out because I spent all my money on the downpayment for the house. My original intent was to live there. I decided to rent it out month by month to try to gain some cash so that I can move back into the home. Well things got worse and I lost my job, so the home is still being rented. On my taxes, the home is listed as a rental and my income from the rent is listed. Now, I called my bank and they say that I can qualify for the loan modification program to lower my interest rate,(assuming the home is my primary residence). I have close to an 800 credit score and have never missed a payment yet. Assuming I file for the new loan, the bank can check my income taxes, and they will be able to see that the property is listed as a rental. The address on my taxes does not match my rental address, since I am currently living at another location. Will the bank care if its listed as a rental (since I've always been so good on payments)? Will they even look? Is it worth trying to get the loan modification? I don't want to shoot myself in the foot (and have my original loan get called). more

Resolved Question: other options instead of foreclosure?

I moved with my husband to Charlotte NC about 3 years ago from FL. We purchased a house from the bank (3 years ago) that we thought was a great deal, we only paid $115, 000. Since there was not urgency to move we decided to refinance the house for a lower interest rate about a year ago which brought our loan to $123,500. I have since lost my job, and my hubby is able to transfer back to FL so we want to sell and move ASAP as we are using our savings to cover some bills. The problem is that so many houses in my neighborhood went into foreclosure and sold for an average of $80,000 as early as March 2009. We would have to sell our house for $133,000 to even break even with all the Realtor fee's. As you know that seems almost impossible. We considered renting, but our mortgage with escrow is $1000 per month and we would only be able to rent for $800. That leaves us paying $200 out of pocket, and paying the property manager 10% on top of that. Plus we would be responsible for maintenance and repairs. We can not afford that. What other options do we have aside from foreclosure and a short sale that will not effect our credit as bad, and will allow us to purchase another home in FL within a year? I have heard of Deed in lieu of, is that a realistic option? Are there any government programs that would assist since I am not working? I do not want to do a loan modification since there is also a fee for that by the bank and it will end up hurting us more then helping us. more

Voting Question: Refinance Car BEFORE or AFTER trying to obtain a mortgage?

Husband is trying to refinance his car, and his bank can DRASTICALLY lower the interest rate. BUT they wont cover the full loan. Leaving about 11K financed, and almost 2K on a separate unsecured loan (because a little upside down on carnote because of high interest rate). Is this NOT GOOD to do before trying to obtain a mortgage in 6 months!? We dont have GREAT credit, but it's FAIR, and will have 3-4% down (possibly more, anywhere up to 10%), trying to obtain our first home. The lady at the bank, said the unsecured loan, may reduce his credit score temporarily, but he needs it because he doesnt have much credit. I am torn between a FAIR CReport, and a chance to get a house with our money saved, and refinancing his car, risking his score going down (BAD), but him HAVING credit (GOOD). What should we do? All collections and anything like that has been paid off, not much debt at ALL Between both of us other than his carnote. (One credit card of mine, that has a 300 limit, and a $50 balance). With that said, with my small credit card, should I leave the balance on it, or just constantly buy and pay off, buy and pay off, does that really help, or just keeping a small amount on the card, so your debt to income ratio is good. (not maxed out). Help. more

Resolved Question: Who's right - me or my husband?

My husband wants to get out of his car loan. We have tons of negative equity in this car because we rolled over negative equity from the car before this one. Our payment is thus very high. Our finance company (Wells Fargo) won't work with us to lower our interest rate, thus lowering our whopper monthly payment. Mind you, my husband's hours have been cut due to the economy and we are struggling to keep our payments current on our mortgage which is more important. Here's where we disagree: my husband wants to have the car voluntarily repo'ed (I am the co-signer). Our credit already pretty much sucks, but we are really going to need to refinance our house in about a year or so because our temporary modification will run out then and our monthly payments will go up about $400/month. My thoughts are that we really need to try and up our credit scores this year so we can refinance and I think a repo will make our credit even worse. My hubby is listening to people at work who are saying that it will only make a small dent in our scores and that we can pay back the deficiency balance after the repo (which will be probably about $15K) little by little. I say that they will take us to court, put a lien on our home, sue us, etc. My husband is using the defense that he wants to go and get another car using one of those programs where if you get laid off they will pay your car note for up to a year (he may get laid off too). And he wants to get a cheaper car, which is fine. But I really think its a bad idea to have a car repo'ed because it will hurt our scores a lot and leave us with a huge sum of money to pay back. What are your thoughts???? EXPERT advice would be helpful too... more

Resolved Question: Bad credit, good paycheck, low bills, Buying car?

My husband and I do not currently have a car. I need one soon. Life is hard without a car, alot of ...situations require a car. Alot of situations require a decent, reliable, good car. My husband has a good reliable paycheck, and we only have a few bills and rent. We can afford a high interest rate and a short term loan but we have little to put down on a car. What would be a good course of action? more

Voting Question: Obamas home refinance option do i qualify?

okay this is my situation, i am going through a divorce and i have a lot of debt, i purchased my home about 2 years ago with only me on the loan when i was in real estate and had a healthy income. my husband has bad credit and both vehicles financed in my name, credit cards, etc. now i have had to get a desk job making very little money, my house payment is $1800 per month and i am only making about $1600 per month, i have been paying my mortgage with my savings account that i had build up, i owe more on my home than its worth so i cant sell it, as far as the auto loans and credit cards go my ex has been giving me money to make those payments. i have not been late yet on my mortgage but my savings is running low and and i fear i might lose my home. what should i do, do i qualify to modify my loan or refinance i am at 10% interest right now i think. more

Resolved Question: Please help me get out of my upside down car loan!?

Im currently am paying on a 2007 Malibu. I owe 21000 and the value is about 14000. I had bad credit 2 years ago when I bought the car, and now, not so bad, my score is over 600. I've made all my payments on time but because my interest rate is so high, I've pretty much just been paying off interest. My payments are almost 600 a month, so it is not possible for me to send in more than my payment every month to pay the loan off faster. Because the value of my car is so much lower than how much I owe, nobody wants to refinance me. What can I do? I just can't keep paying this much every month, I have no money! more

Resolved Question: I'm stuck in a horrible upside down car loan. Please help!!!?

I currently am paying on a 2007 Malibu. I owe 21000 and the value is about 14000. I had bad credit 2 years ago when I bought the car, and now, not so bad, my score is over 600. I've made all my payments on time but because my interest rate is so high, I've pretty much just been paying off interest. My payments are almost 600 a month, so it is not possible for me to send in more than my payment every month to pay the loan off faster. Because the value of my car is so much lower than how much I owe, nobody wants to refinance me. What can I do? I just can't keep paying this much every month, I have no money! more

Resolved Question: What are the best student loans for bad credit/no credit.?

Stafford loans are based on income right? If I don't get any government aid, what is the best loan for me if I have somewhat bad credit. I need something with a low interest rate. My tuition is going to be about 21,000 a year. I am also an undergrad student. more

Resolved Question: account-budget homework?

retail-low is a small store in the outer suburbs of brisbane that has been successful over recent years despite the recession.below are the estimated transaction totals for the quarter ending 30 june 2009. item area apr may jun item 1 sales 130000 140000 145000 item 2 closing inventory 49000 53000 41000 item 3 purchases 72000 80000 73500 item 4 wages-sales 16000 22000 24000 item 5 insurance - 18000 - item 6 delivery costs(outwards) 8000 12200 6400 item 7 aministration costs 4000 4200 4100 item 8 financial costs 800 900 500 item 9 interest received 500 440 700 item10 drawings 2000 2300 700 item 4 to 10 are expected to be cash items from the cash receipts and cash payments journals for the months indicated. the following items need further consideration and have not been included in the figures above. item 1 sales are nornally 50% cash and 50% credit.the credit sales collection is:80% received the month following sale and these accounts receivable are allowed 10% discount,20%collected second month after sale.there are normally no bad debts,due to tight credit controls. item 3 general policy is that all purchases are on credit and paid the month following the purchase.we are given 5% discount if accounts are paid within 30 days. item 5 a new annual insurance policy will be paid on 1 may 2009. item 8 financial costs do not include the discount on account receivable for this quarter. note: A delivery vehicles are depreciation 18% pa reducing balance method. B salary bonus equal to 3% of total sales for the quarter are paid to staff in the first pay-cheque the following quarter. C area jan feb mar total sales for the month 120000 128000 126000 total purchases for the month 50000 53000 56000 balance sheet for retail-low as at 31 march 2009 current assets 98900 bank 75800 inventory 40000 investment bonds-maturing 12 june 2009 102000 total current assets 316700 non-current asset computer 2000 delivery vehicles 85000 less accumulated depreciation 4000 81000 total non-current assets 83000 total assets 399700 current liabilities accrued expense-salary bonus 11220 accounts payable 56000 loan number 1-due 6 apr 2009 136500 loan number 2-due 12 jun 2009 120000 total liabilities 323720 net assets 75980 equity capital 20180 add profit 60300 80480 less drawings 4500 total equity 75980 (a)prepare the cash budget for retail-low to show the bank balance for each of the months for the quarter ended 30 june 2009. (b)prepare the budgeted income statement for retail-low for the quarter ended 30 june 2009. (c)using the figures prepared in the cash budget part(b),comment on the estimated cash flow position of retail traders for the quarter ending june 30 2009.how will the cash budget assist the owner in planning and controlling his business. (d)using examples from the question,and the AASB standards,clearly explain the difference between cash receipts and income;and cash payments and expenses. more

Resolved Question: I have a car loan for $6,000 at 14% interest should I refinance?

I unfortunately had poor credit a year ago, and only qualified for 14% interest. now I have been paying extra every month, and I am to the point that I am paying $250 a month (my original payment was 225), and I have gotten so far ahead, my bills minimum payment is only $110... so all that extra is going towards principle. Now because I am still paying 14% interest, should I consider refinancing and trying to get a lower rate? Or should I just continue going the way I am, and pay off my balance that much quicker? I have been really really working at my credit over the last year, and have raised it over 80 points... so I would think that I would qualify for a lesser interest rate... I am also dont want it to look bad on my Credit that I have another car loan. I just really dont know what I should do. Any thoughts? more

Resolved Question: Do I have what it takes to become a credit counselor?

I moved from Delaware where I was employed in the credit card industry in fraud prevention and authorizations to Huntsville, Alabama last year. I haven't found a job that suits me because my main skill set is in the banking industry and Huntsville doesn't have many opportunities at all in that industry. My husband is a software engineer so we moved down for his career. I'm thinking about becoming a credit counselor for the following reasons. I'm a walking encyclopedia of lending regulations, practices and credit reporting practices. Basically, I know the industry inside and out and I still keep up with changes in the banking industry on a regular basis. When I worked authorizations I'd often encounter people who were totally maxed out on multiple accounts, had credit scores in the toilet, yet would call wanting permission to go over the limit on their card to buy some ridiculously expensive item. We were technically supposed to approve those requests but I felt so bad that I was enabling the customer to continue self destructive behavior I would often decline these requests and gently try to make the customer aware of what they were doing. These were people who were really in bad; not customers who were paying on time and in relatively good standing. My general rule was if someone is maxed out on more than one card, is barely making minimums, has a credit score under 600 and recent or chronic delinquency on any account I would say no unless it was a dire emergency like a car repair or a medical bill. It was basically what I could squeak by with doing. One time I had a rather long conversation with a woman DEEP in debt who actually told me I would make a good credit counselor. I was thinking about that recently and it sounds like a fulfilling career. I know that debt is an addiction for some people so I felt like I was being forced to feed people's addictions when I worked in the industry. It's like giving scotch to chronic alcoholic, no good can come of it. I'm also very good at managing my own finances. My husband and I are living on one income as a couple in our early 20's with student loan debt yet we do manage our expenses well enough to easily afford our own home. We've taken excellent care of our credit to qualify for good interest rates on all of our debt. Ironically our mortgage has the highest interest rate at 6.25% fixed; our consumer revolving debt rates are 5.5% or lower. I grew up low income and my parents avoided non-mortgage debt like the plague! I think I could set a good example for clients as a credit counselor; plus I'm incredibly nice but not afraid to tell it like it is. Does this seem like a good basis for a potential credit counselor? more

Resolved Question: Co-Borrow with my mother on a mortgage?

I'm looking to buy a place out of state (currently in California). I have been working on fixing my credit (some bad hits from years ago, but getting better, car payment and 3 credit cards all in wonderful standing for at least 2 years,Bad hits are old collections/student loan default). I have about 15% down payment ready to go for the place. My score is about 630. Not great. My mothers credit score is about 830, and she has not owned a home for 5 years. I have never owned a home. My income plus my wife's income is about $80,000. We are looking for a home around 220,000. Yes, we should quaslify, except for credit. Now, my mother would be living with us, so she has a vested interest. My question is, will I be able to get a prime rate due to my mom's credit score, even if mine is not great? How much does my cash down payment have to do with it? At 630 could I get the mortgage on my own in the current lending climate? I understand if I wait another year or two, my credit score should be good enough to buy on my own, but want to take advantage of the new $8000 credit and the low prices/broad selection of homes. Any and all answers would be appreciated. more

Resolved Question: Do you know why printing more money may not decrease the dollar and may be the best thing for the economy?

I know its hard for people without an economic back ground to understand why printing money may not devalue the dollar or increase inflation. Applying micro economic examples that is how you run your house hold accounts to macro economics just doesnt work The US economy is very weak. Gross domestic product fell heavily in the December quarter and is likely to have fallen further in the present quarter. This week the US Federal Reserve's open market committee met and decided it wanted to ease monetary policy further so as to stimulate borrowing and spending (demand). There was just one problem. It had already reduced its official interest rate (the federal funds rate) essentially to zero. And once interest rates are at zero they can't go any lower. So the Fed announced its intention to buy up to $US300 billion ($440 billion) worth of longer-term US Treasury bonds over the next six months. It would buy bonds that had already been issued and it would pay for them simply by depositing money in the accounts of the banks from which it bought the bonds (or, if the seller wasn't a bank, it would credit the seller's bank's account with the central bank, and then the bank would credit its customer's bank account). In other words, it would pay for the bonds by creating money out of thin air - something only a central bank can do. It would be the modern equivalent of printing $US300 billion worth of bank notes. Early this month the Bank of England's monetary policy committee decided to cut its official interest rate to just 0.5 per cent, but also to purchase £75 billion ($160 billion) worth of government bonds over the next three months. The purchase would be covered by "the creation of central bank reserves" (no prize for guessing what that means). .The Fed's big purchases of long-term government bonds will put upward pressure on the prices of those bonds, thus automatically forcing down their yield (interest rate). in America and some other countries, most home loans are at rates fixed over the 25 or 30-year life of the loan. This means the interest rate charged on home loans tends to vary in line with long-term government bond rates. This, in turn, means that mortgage interest rates haven't fallen all that much in the US, even though the Fed has slashed its official interest rate to zero. So people with home loans haven't had much relief (which they get by renegotiating their existing home loans, something they can do without penalty) and home loans haven't become much more affordable to new borrowers. But now, you see, the Fed's purchase of long-term bonds will, by forcing down the yields on such bonds, have the effect of lowering mortgage interest rates. This will be the main stimulatory effect of the quantitative easing, and that's exactly why it was done. This week the Fed also announced its intention to purchase up to $US100 billion worth of the bonds issued by Freddie Mac and Fanny Mae and up to $US750 billion worth of mortgage-backed securities that had been guaranteed by those two government agencies. These purchases will "increase the size of the Federal Reserve's balance sheet" - that is, they too will involve the equivalent of printing money. And their objective is the same: "to provide greater support to mortgage lending and housing markets". But why won't all this extra money in circulation add to inflation? Well, in normal times it would. Extra money should add to nominal demand and when the demand for goods and services isn't far apart from the supply of goods and services that should put upward pressure on the prices of goods and services. But these are far from normal times. America, Britain and the world are in a severe recession, one so bad the International Monetary Fund has dubbed it the Great Recession. So demand in these countries is very weak and falling far short of supply - which is why unemployment is shooting up and factories have much spare capacity - meaning the risk of price rises is low. Indeed, the big worry in these countries at present is the very opposite of inflation, the risk of deflation. Deflation means widespread and continuing falls in prices. Why would you get prices falling across the board? Because demand is so weak relative to supply. Falling prices may sound nice, but in reality are very bad. It means the economy gets locked in reverse. When people get used to falling prices they become even more reluctant to spend because everything will be cheaper next month. When firms have to keep cutting their prices to match the competition they stop investing in new equipment or expansion. If they can't cut their employees' wages they lay them off. And while all this is happening the real value of people's debts is rising (not falling as normally happens) thus increasing the burden. If all the money created adds to demand (and Japan's experience in the 1990s suggests it may not) the effect will be to reduce ththe effect will be to reduce the risk of deflation, not to increase the risk of inflation. That's why those countries' central bankers are prepared to do it, and why most economists have applauded, rather than decried, their actions. more

Resolved Question: We're Going to Be Homeless and Don't Know What to Do, Any Help, Please?

My mom and I bought a house several years ago and now because of raising interest, our payments on the house increased to over $4000/month for a house that's not even in a good neighborhood. Since my mom is the only one on the loan, she has to declare bankruptcy and our house has been in the process of foreclosure for the past 8 months. To make it worse, I got layed off from my job and decided to go back to school to get my bachelors degree, and live on campus. The thing is, because of her bad credit score (because of the foreclosure and bankruptcy) she cant find any place to live. My credit score is good, but since I'm not working, I can't rent an apartment for her with her making the payments (since she still has a job, albeit a low paying one). But, If we don't do anything soon, the bank will kick us out of our house and we will be living in our car before we know it. We are so scared and angry that nobody will help us, including our friends who pretend that nothing is happening even though we have asked for help. We even looked into low income housing but even they require high credit scores from everyone living in the apartment. Is there anyone out there that has or is going through the same thing? We might as well be dead or invisible what with the help that we have (not) received from anyone.We live in the San Francisco Bay Area in California. It is one of the most expensive areas in Ca next to Los Angeles. My mom still has good work here (she's self employed and has her client base already set up), but not enough to live here. For example, you can get a studio in a somewhat nice neighborhood for between $800-1300/month. The option to move out of the Bay Area is not there. She's basically stuck here because no matter where she moves to, she would have to start over in forming her client base. more

Resolved Question: Can I get an auto loan through Capital One with a 590 credit score?

I currently have a credit card with Capital One that has been in good standing for almost a year. My Experian credit score is 590. I have no accounts in bad standing. I have a student loan I am paying on. Another credit card with a balance of $100 which will be paid off at the end of this month. I was just wondering if Capital One works with people with lower credit scores? I know it would be a really high interest rate if they did. Thanks more

Resolved Question: Life has painted me in a corner at 30? HELP!!!!?

I just turned 30 yrs old and have no job, less than 1 month in the bank and no help financially from anyone. I am extremely depressed and don't know what to do at all. painted in a corner, dont know whether to live or die. I want To Escape into another person. I have some work experience with web development (CSS, HTML, graphics,etc) but want to get out of it due to all the contract positions. No one will give me a chance to do anything else, I never really finished college, but I am currently going to night school for a BS degree in Management Information Systems. I need money NOW, I need a loan, or a grant or something. I have no help from parents, I have bad credit due to job instability or low pay.( I have worked as a janitor just to eat) I have been to temp agencies, but get this they didn't like my night school schedule so I couldn't get an office clerk job because it would require working till 8pm. I cant frickin win. This has been going on for 3 F-ing yrs. I cant stand my life, I want to jump in ocean and float away. I know the economy doesn't help, but I don't believe everything the media tells you, people have jobs, its all smoke and mirrors. I cant move because I want to finish my degree, altough I dont really need to because my work (web programming, graphic design can be done remotely, so it doesn't matter) I WILL MAKE MY LIFE HAPPEN, NOT someone else, I am 30, time is right f-ing NOW, I am single, clean cut , clean background, no kids, nothing, ) and I believe a good person in general. I just need a financial kickstart NOW, because I'm tired of my life and have even thought about changing my name because I'm so fed up w/ everything. And yes I have been to therapists, they suck, stupid questions about your upbringing and child hood interests and crap, lady I wouldn't be talking to you If I had money and then I have to pay you $50hr, so you can give me a how to create a resume book that I can get a borders on my own time), Life is all BS,( its YOUR FAMILY, YOUR HEALTH and YOUR MONEY) and that's it. I need the third one. I cant get anything (although I have worked various temp jobs over 3 yrs, small biz, contract 90 days), I want to say f the system , f everything, plus I live in my hometown that I can't stand anymore (Tampa FL). AHHHHHHHHHH AHHHHHHHHHHHHHHHHHHHHHHHHHHHH I need MONEY, NOWOOOOOOOOOOOOOOWWWWWW more