Tagged Questions

3
votes
1answer
50 views

Co-signing & dying: What if a loan co-signer dies? Is estate of co-signer liable?

A grim and tragic question perhaps, but I'm curious: What happens when a person that co-signed on a loan dies? Is the co-signer's estate potentially liable until the loan is paid …
4
votes
7answers
117 views

Someone asks you to co-sign a loan. How to reject & say “no” nicely or politely?

Hypothetical situation: A dear friend or family member comes to you and asks you to co-sign for their loan. Let's say the reason they need the money is not a life-or-death type …
5
votes
1answer
46 views

If I co-sign on a loan for someone, am I putting up money (is there a cost)?

Does it cost me anything if I co-sign a loan for someone?
6
votes
5answers
93 views

What is the difference between “good debt” vs. “bad debt”?

This other question about home renovations makes reference to the concept of "good debt." Could somebody explain the concepts of good debt vs. bad debt, providing examples of ea …
3
votes
3answers
107 views

Should you co-sign a personal loan for a friend/family member? Why/why not?

I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? …
6
votes
1answer
34 views

What are advantages & disadvantages of using a Peer-to-Peer lending site or network?

If I was looking to consolidate some credit card debt and wanted to use a peer to peer lending service, what things do I need to look out for?
5
votes
6answers
124 views

Saving $1,000+ per month…what should I do with it?

I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, …
5
votes
3answers
86 views

I’m a teenager - Why do people use mortgages, when they could just pay for the house in full (cash)?

I would like your recommendation on whether you should buy a house with a mortgage, which you would pay as you go, or should you buy it in full. Thank you for your time.
2
votes
2answers
36 views

Paying off loans early, or is there some way to reduce extortionate interest charges?

I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking. Over the 5 year period I'm paying over £18 …
3
votes
2answers
51 views

Will our hefty student loans affect our chances of getting a mortgage?

My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses …
2
votes
1answer
22 views

For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be “good” debt?

This other question is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't very expensive – it's feasible to consid …
3
votes
2answers
56 views

Home Renovations are expensive.. Should I only pay cash for them?

Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood i …
3
votes
2answers
24 views

I’ve heard that it’s never a good idea to go with payment protection plans offered by credit card companies. Is this true?

I'd like to think my bank isn't trying to swindle me when they call and try to sell me one.
5
votes
3answers
41 views

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?