I am still paying on the card to pay it off. The account was closed almost 2 months ago and I am being charged almost a $30 finance charge every month. How can I get ahead like that? I haven't even charged on the card in the last 2 years. It doesn't seem fair that they are charging a finance charge.
Why is the bank still charging a finance charge if the account is closed?
Just because you closed the account does not stop the interest due. You still owe them the money and therefore, there are still interest charges. Closing the account just stops any new purchases or cash advances from going through.
Reply:When you applied for the card you agreed to the terms of the card. Even after you close the account it is not "closed" until the balance is paid off.
So yes ALL fees and interest would still apply. The rates that apply are the ones that were in effect at time you requested it closed. You will be continued to be charged interest at that rate until the account balance is zero. Once that happens your account is officially closed. But just be aware that other fees apply also. So if you are ever late they can still charge you a late fee. IF you decide to stop paying they can then also turn you over to a collection agency.
Reply:The terms of the agreement was probably a lower % but once you
defauled on agreement the card will increasde to 28-30% depending
on the creditor, and each month that you are behind the minimum
payment will double or triple until you get back on track, also
adding finance, interest and overlimit fees. This is how banks make
their money, I closed mine 6 months ago, the amounts that I owed
were almost double because of other fees, but once theyre charged
off, and sold to collections then you have a chance at settling the
debt for less money, so you did good by closing the accounts, now
if you dont plan on paying or cant pay then you should plan on having
bad credit from 7-10 yrs. I dont this its unfair that their have
finance charges, its a way of doing business and if people like us
dont know how to handle our finances its better not to have credit or
credit cards what is unfair and illegal is that these credit card
companies will give you a credit card knowing that a person is not
even working, I wasnt owrking when they gave me a 20000 increase
in one credit card, they dont do background checks, I think.
If they did they wouldve seen me as a liability, thats why the US is
in a mess right now with mortgages and credits. They extended
loans to people who didnt qualify for it. So its half and half their
fault and the taxpayers. If you know you cant afford the home whait
till you can. So now were all in a pickle.
Good luck!!!
Reply:As long as you still owe a balance, you will be charged interest. Whether the account is in "open" or "closed" status doesn't change that. Welcome to the real world.
Reply:I guess you might have thought closing the account will mean a free loan. No wonder people get in credit trouble.
tanning
Friday, July 31, 2009
What are the rules or principles of finance for saving and budgeting?
Basically what the header question asks.
What are the rules or principles of finance for saving and what are the rules or principles of finance for budgeting?
Thanks in advance
What are the rules or principles of finance for saving and budgeting?
First rule is pay yourself first. You want at LEAST 10% of your take home pay to go into savings. Preferably 20%. Other than that, don't put anything on a credit card that you can't pay for in cash, pay off your FULL balance on your credit card every month (not just the minimum payment), and pay cash for everything you can, with the exception of maybe cars and a home. Don't get suckered in to the need for immediate gratification. if you can't afford something now, save up for it, don't put it on credit.
Everything else goes from there, keep your monthly expenses down to a minimum and try to keep at least three months' worth of expenses in your savings account. And remember that the little things add up. Movies, dinners out, and things like that really eat up your paycheck. Try to keep those to a minimum.
Also, I'd recommend getting into a high-yield checking account, like Schwab. Good luck!
What are the rules or principles of finance for saving and what are the rules or principles of finance for budgeting?
Thanks in advance
What are the rules or principles of finance for saving and budgeting?
First rule is pay yourself first. You want at LEAST 10% of your take home pay to go into savings. Preferably 20%. Other than that, don't put anything on a credit card that you can't pay for in cash, pay off your FULL balance on your credit card every month (not just the minimum payment), and pay cash for everything you can, with the exception of maybe cars and a home. Don't get suckered in to the need for immediate gratification. if you can't afford something now, save up for it, don't put it on credit.
Everything else goes from there, keep your monthly expenses down to a minimum and try to keep at least three months' worth of expenses in your savings account. And remember that the little things add up. Movies, dinners out, and things like that really eat up your paycheck. Try to keep those to a minimum.
Also, I'd recommend getting into a high-yield checking account, like Schwab. Good luck!
How do I change my company's profile info in Yahoo Finance?
Probably be better, in fact to change it on Reuters (which I think is the source of Yahoo and Google and some other finance info). We're a holding company, and we've changed our focus, so we want to make sure the ticker search services have updated info on us.
How do I change my company's profile info in Yahoo Finance?
It can be hard to contact Yahoo Finance. I don't know of any phone number that you can use, but the link below goes to their help form.
How do I change my company's profile info in Yahoo Finance?
It can be hard to contact Yahoo Finance. I don't know of any phone number that you can use, but the link below goes to their help form.
How do i get rid of my car while still under finance?
I want to get rid of my car but i still owe the finance company quite a bit of money. I dont want to trade it in as i dont want another car so what else can i do?
How do i get rid of my car while still under finance?
i think is states somewhere in the contract that you can only sell it back to the finance company - and believe me - they will fleece you!
you have it now so my advice would be to enjoy it
Reply:hi,firsty yes you can sell the car,but before you do,you have to get in tutch with the fienance company,find how much you owe,if you can sell the car and get more than you owe them your quids in,if not your stuck old chum,hope this helps and good luck.
Reply:What you should do is return the car to the finance company with the keys and state that you no longer want the car.You cant sell it because its not your car it belongs to the finance company and to sell it would be fraud
Reply:sell the car yourself- you will get more money for the car ... make sure that you sell it for enough where you are not "upside down " - meaning you owe more to your finance company than what the car is worth. any amount you get over what you have to pay to your finance company is yours to keep. Check with your state motor vehicle adminsitration on proceedures you must take to sell you car.
Reply:there should be a clause in your contract stating that after you have paid at least half of the car you can hand it back to the finance company i know my dad done it three years ago
Reply:Dump it and report it stolen.But burn it first.
Reply:Find a new buyer who is willing to pay what you owe and make arrangements with him and the finance company to get the loan taken care of so they will release the lein card.
Reply:Well you have two options one is to sell and pay off the loan and the second being to find someone to take over payments. If you sell it you need to see what you owe compared to what it is worth. My guess is that you owe more than it is worth so you would have to pay the difference between what you owe and what you sell it for at the time of sale.
Check with your bank and see what their criteria is for someone to take over payments and then advertise it that way. Although if your payment are high that could be a hard task as well. Good Luck!
Reply:If it is still running, go out and find somebody to tailgate you.
Then slam on the brakes.
If you are a good enough actor - you'll get the car paid off, and then some.
Careful though - people know this trick.
Reply:Determine what your original contract states. It may allow you to sell the car.
If you owe more than the car is worth you will need to sell it and kick in the difference in the money you owe them.
Obviously, the finance people will need to sign off on the sale as they will be on the title. As stated by others you may be able to find someone to take over your loan if they can get approved.
Don't wreck your car or burn your car or anything silly like that. Car insurance companies have lots of investigators. You could end up in jail.
Reply:Contact the finance company and tell them that you want 'rid' of the vehicle. There are many options for you to choose from: you can give the car to the finance co. to sell for you, or you can ask for permission to sell the car and then to pay them although it is not very likely they will go for this choice. The other way is to find a buyer yourself and then to explain the situation to them and arrange with the finance co. that the buyer pays them what is owed and you get the balance. Be Aware that the finance company according to uk law 'own the vehicle' not you. It is a criminal offence contrary to the theft act to dispose of or to sell the vehicle to another without the express permission 'in writing' from the owner, finance co., or another whom has 'an interest' or a lawful right or claim on the property namely the vehicle. If you contravene this you WILL be liable to arrest and face criminal proceedings and may end up with a criminal record. Sorry to be so blunt but there is no other way, think things over sensibly and carefully. If you are having problems meeting payments talk the finance co. be honest and say that you want to keep the car and ask if they will lower or freeze the repayments for a while. Ask also if they or you with permission can sell the vehicle and any outstanding balance be put down to a personal loan.
Reply:find another buyer to take loan over or refinance it in their name
Reply:I'm selling my Car on CraigsList.com...
Go there..
I seen alot of people saying "Take over my Payments".. And alot of people actually do... Good Luck!
Reply:Sell it outright by yourself and pay off the loan and what is left over you will need to come up with that difference.
Reply:you got to pay off finance first no other way
How do i get rid of my car while still under finance?
i think is states somewhere in the contract that you can only sell it back to the finance company - and believe me - they will fleece you!
you have it now so my advice would be to enjoy it
Reply:hi,firsty yes you can sell the car,but before you do,you have to get in tutch with the fienance company,find how much you owe,if you can sell the car and get more than you owe them your quids in,if not your stuck old chum,hope this helps and good luck.
Reply:What you should do is return the car to the finance company with the keys and state that you no longer want the car.You cant sell it because its not your car it belongs to the finance company and to sell it would be fraud
Reply:sell the car yourself- you will get more money for the car ... make sure that you sell it for enough where you are not "upside down " - meaning you owe more to your finance company than what the car is worth. any amount you get over what you have to pay to your finance company is yours to keep. Check with your state motor vehicle adminsitration on proceedures you must take to sell you car.
Reply:there should be a clause in your contract stating that after you have paid at least half of the car you can hand it back to the finance company i know my dad done it three years ago
Reply:Dump it and report it stolen.But burn it first.
Reply:Find a new buyer who is willing to pay what you owe and make arrangements with him and the finance company to get the loan taken care of so they will release the lein card.
Reply:Well you have two options one is to sell and pay off the loan and the second being to find someone to take over payments. If you sell it you need to see what you owe compared to what it is worth. My guess is that you owe more than it is worth so you would have to pay the difference between what you owe and what you sell it for at the time of sale.
Check with your bank and see what their criteria is for someone to take over payments and then advertise it that way. Although if your payment are high that could be a hard task as well. Good Luck!
Reply:If it is still running, go out and find somebody to tailgate you.
Then slam on the brakes.
If you are a good enough actor - you'll get the car paid off, and then some.
Careful though - people know this trick.
Reply:Determine what your original contract states. It may allow you to sell the car.
If you owe more than the car is worth you will need to sell it and kick in the difference in the money you owe them.
Obviously, the finance people will need to sign off on the sale as they will be on the title. As stated by others you may be able to find someone to take over your loan if they can get approved.
Don't wreck your car or burn your car or anything silly like that. Car insurance companies have lots of investigators. You could end up in jail.
Reply:Contact the finance company and tell them that you want 'rid' of the vehicle. There are many options for you to choose from: you can give the car to the finance co. to sell for you, or you can ask for permission to sell the car and then to pay them although it is not very likely they will go for this choice. The other way is to find a buyer yourself and then to explain the situation to them and arrange with the finance co. that the buyer pays them what is owed and you get the balance. Be Aware that the finance company according to uk law 'own the vehicle' not you. It is a criminal offence contrary to the theft act to dispose of or to sell the vehicle to another without the express permission 'in writing' from the owner, finance co., or another whom has 'an interest' or a lawful right or claim on the property namely the vehicle. If you contravene this you WILL be liable to arrest and face criminal proceedings and may end up with a criminal record. Sorry to be so blunt but there is no other way, think things over sensibly and carefully. If you are having problems meeting payments talk the finance co. be honest and say that you want to keep the car and ask if they will lower or freeze the repayments for a while. Ask also if they or you with permission can sell the vehicle and any outstanding balance be put down to a personal loan.
Reply:find another buyer to take loan over or refinance it in their name
Reply:I'm selling my Car on CraigsList.com...
Go there..
I seen alot of people saying "Take over my Payments".. And alot of people actually do... Good Luck!
Reply:Sell it outright by yourself and pay off the loan and what is left over you will need to come up with that difference.
Reply:you got to pay off finance first no other way
How to start a business called razor finance?
My husband has a small car lot, he looses a lot of business due to the fact that he can't finance the cars. So I want to start a finance company for slow credit customers.
How to start a business called razor finance?
The buy-here, pay-here car lot is often very successful if you adhere to one thing: when you sell the car, the down payment MUST cover what you have in it as well as tax and registration.
Payments beyond that sound like profit, but they're not. You'll need a reliable tow company. It's not unusual for a "tote a note" car lot to sell, repop, sell, repop, and sell a car several times.
Don't sell junk. When the car stops running, they stop paying.
Create a very secure area for cash handling. If the Friday afternoon crowd is dropping off fifties and hundreds, the Friday evening crowd will want it. Make sure you have a police escort to the bank.
Easiest way to start? Get a car. Down payment is $500, and a $70 payment a week for a year. You have the title, you see the customer every Friday.
You have to be hard nosed. The sob stories will break you heart, but don't let them break your bank.
Good luck! - Stuart
Reply:its a good idea!
floral
How to start a business called razor finance?
The buy-here, pay-here car lot is often very successful if you adhere to one thing: when you sell the car, the down payment MUST cover what you have in it as well as tax and registration.
Payments beyond that sound like profit, but they're not. You'll need a reliable tow company. It's not unusual for a "tote a note" car lot to sell, repop, sell, repop, and sell a car several times.
Don't sell junk. When the car stops running, they stop paying.
Create a very secure area for cash handling. If the Friday afternoon crowd is dropping off fifties and hundreds, the Friday evening crowd will want it. Make sure you have a police escort to the bank.
Easiest way to start? Get a car. Down payment is $500, and a $70 payment a week for a year. You have the title, you see the customer every Friday.
You have to be hard nosed. The sob stories will break you heart, but don't let them break your bank.
Good luck! - Stuart
Reply:its a good idea!
floral
Ideas for a Finance specific regression analyis?
I am assigned to do a regression analysis of several sets of data to test hypotheses about relationships between them. It must be Finance-specific. My professor has already shot down my first 2 ideas, so I need some suggestions! Thank you!
Ideas for a Finance specific regression analyis?
A) Is company A correlated to Index B in an X% probability test over period Y?
B) Is an Index B over a time period autoregressive over time period Y.
C) Is Company's A's stock perform heteroskedastic over time period Y?
Ideas for a Finance specific regression analyis?
A) Is company A correlated to Index B in an X% probability test over period Y?
B) Is an Index B over a time period autoregressive over time period Y.
C) Is Company's A's stock perform heteroskedastic over time period Y?
What is the best way for me to get into the field of Finance?
I am currently working on getting my bachelors in finance. I presently am working as an electrician and I am looking for any ideas on the best way for me to get into this field. My goals are to eventually run my own buisness. My interest right now is in corporate finance, although I am very open minded to any other area. Any advice will be helpful. Thanks.
What is the best way for me to get into the field of Finance?
To get the job you want it is based on who you know and not what you know. I would network with people, go to the career fairs, talk to your professors, career services, deans, etc. They all should know you by your first name! Make it such that your name is the first name on every ones mind when a job comes up! Here is a scenario: You plan on opening up a business, would you hire someone off the streets from a resume sent in for your finance manager position or would you offer the job to someone that comes highly recommend by one of your business associates whose opinion your value and respect? Again, it is not what you know but who you know!
Reply:You need to bring up your GPA average so you'll have a better chance of getting in it. Try to find activities related to that field. It could help you have a idea of what your getting yourself into.
Reply:Get an internship with a good finance company, or a bank.
What is the best way for me to get into the field of Finance?
To get the job you want it is based on who you know and not what you know. I would network with people, go to the career fairs, talk to your professors, career services, deans, etc. They all should know you by your first name! Make it such that your name is the first name on every ones mind when a job comes up! Here is a scenario: You plan on opening up a business, would you hire someone off the streets from a resume sent in for your finance manager position or would you offer the job to someone that comes highly recommend by one of your business associates whose opinion your value and respect? Again, it is not what you know but who you know!
Reply:You need to bring up your GPA average so you'll have a better chance of getting in it. Try to find activities related to that field. It could help you have a idea of what your getting yourself into.
Reply:Get an internship with a good finance company, or a bank.
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