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How does a student loan affect your credit?

loanselector — Fri, 06 Nov 2009 05:02:02 +0000

FuzzyLizard asked:

I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?

Ted

Can I take out a home loan for land and a manufactured loan?

loanselector — Thu, 22 Oct 2009 23:32:11 +0000

Jak K asked:

By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land?
Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?

Leonard

Closing credit cards with a balance left on them to pay them off?

loanselector — Wed, 14 Oct 2009 03:30:23 +0000

Yahoo Answerer asked:

I want to make a new years resolution to pay off my credit cards, and I want to close them out to make sure I don’t get tempted to use them. Will that look bad on my credit score if I close them out, when they still have a balance? Also, do they carge extra for doing that? Thanks for ANY advice on this!

Ida

What is the difference between personal credit cards and business credit cards?

loanselector — Tue, 06 Oct 2009 07:29:00 +0000

cindasl asked:

I have a few personal credit cards and I want to consolidate them. I also am self-employed, but I dont’ have a business credit card; although I get LOTS of ads for them in the mail. I’ve always wondered, what is the difference? Are there different rules or fees? Can you only use them for business purchases? Do you have to spend a certain amount to keep them?

Any advice appreciated…

Kathleen

How can I get a personal loan or someone to invest in my start-up business overseas?

loanselector — Wed, 30 Sep 2009 06:07:52 +0000

seane.beard asked:

I am currently in the military and I get out in the middle of December. I am currently in the middle of starting up a Day Spa (Beauty Spa) for females (in Bahrain) and I have already invested about 85K in loans into the business. I have nearly excellent credit (which is why I got the loans) which I have maintained for about 14 years. Now, about seven weeks from opening, I foresee a shortage of about 30K. I have searched everywhere for another loan, to include the new Patriot Express Business Loan for the military, but, they will not loan for a business overseas. Also, the number of loans on my Credit Report doesn’t make it a great idea to apply for another one. In the first month, my projected revenue is 15K. This total will double itself over the next three months, which is why I know that someone either investing in my business, or granting me a loan, will receive back their loan in a short period, or their investment will be a positive one. Email or rspond w/answer. Thanks.

Florence

How to combine credit cards, to pay them off in one lump sum?

loanselector — Sun, 27 Sep 2009 09:28:31 +0000

dboyy26 asked:

I have two credit cards with debt of 7,000 with both cards combined. Is there a way that I can combine those credit cards and lower the payment and pay them in one lump sum? I just want to get rid of these cards so I can move on with my financial growth.

Marjorie

What kind of Credit Card processor should i use to accept credit cards at an arts and crafts fair?

loanselector — Fri, 25 Sep 2009 00:00:28 +0000

Teartin asked:

I’m going to have a booth at an arts and crafts fair. I’m not sure how to accept credit cards. do i have to go with the manual cordless credit card machine or are there more options. thanks
How do i get the wireless equipment free?

Cecil

How exactly do ‘interest only’ mortgage loans work? When do I pay on the principle of such a loan?

loanselector — Tue, 15 Sep 2009 06:44:27 +0000

ronidl76 asked:

I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?

Gloria

What credit cards are out there that don’t charge fees for using them in foreign countries?

loanselector — Sun, 30 Aug 2009 13:21:51 +0000

calstud4life asked:

I am going out of the United States this upcoming summer for 3 months and would like to have a credit card on me that I will be able to use in Europe without being hit with transaction fees. Does anyone know of a credit card company that issues cards without charging an exponential amount of interest or transaction fees?

Ellen

How does a secured loan work?

loanselector — Tue, 25 Aug 2009 01:24:12 +0000

The Tycoon asked:

I’m looking to start up a business, and borrowing money from my dad. He has the liquid, would a secured loan be good or a business loan?
10k loan, he has the funds I just need it for 6 months or less. It will be paid in full then.

Joy