Open Question: Is there anything you can do if you take out a $13,000 car loan and have to sell the car for $2,500?

I bought a car for $13,000 with a bank personal loan. Several years later the car had mechanical issues and I was forced to spend either $5 – $15,000 for repairs, or sell it for $2,500, which is what I did. Insurance did not cover it.

I still have $9,000 owing on the loan but now no car.

Are there any options at all to help me? What should/can one do in this situation?

Open Question: Have a personally guaranteed business lease?

I alone, signed a lease with a personal guarantee for my business. At the time, I owned a house. Since then, my husband and I had to sell our home to downsize, but bank did not want me on loan or title. Now I own nothing. How is the lease affected?

Open Question: I need some help with a Budgeted Balance Sheet I’m stuck and unable to resolve with I’m stuck. Help Please?

I need to prepare a budgeted balance sheet and I’m stuck on a few points, and I can’t resolve what im stuck on.

Actual Balances as at 30 November 2010:
Debtors $6900 Inventory $2000 Equipment $10400 Loan $5000 Bank Overdraft $1800
accumulated depreciation (equipment) $1560 Creditors $3600 Capital ?

from budgeted income statement for month ended 31 dec 2010:
sales 65400
COS (35500)
gross profit 29900
depreciation (1200)
operating expenses (23840)
profit 4860

from cash budget month end 31 dem 2010
total expected receipts $46140
total expected payments $53319

other info
all sales made on credit, 60% sales collected in month of sale and the remainder in the next month. There are no bad debts

Purchases for Dec and Jan are expected to be 35970 and 38400. purchases are paid 70% in month of purchase and 30% in next month.

new equipment worth 2000 will be purchased on 31 dec on credit

operating expenses are generally paid as incurred, however 1000 of the wages included as operating expenses will still be unpaid at the end of Dec.

1200 of loan paid monthly

the owner will withdraw 500 cash for personal use during dec.

Could anyone please help.. This information to prepare a budgeted balance sheet. Thank you muchly.

Open Question: Is it illegal to use your child’s social security number to borrow a personal loan?

Open Question: Can a credit union put a lien on your house if you don’t pay an unsecured personal loan?

Open Question: which bank is the best to take personal loan?

would like to take personel loan. Want to know which are the best banks

Open Question: Personal finance problems. Help?!!?!?

1) ____ is a benefit of borrowing.
a.Being able to purchase goods and services when checks are not acceptable
b.Providing payments that fit into a budget
c.Having a permanent record of transactions
d.The ability to buy expensive goods while spreading the payments over time
e.all of these are benefits

2)Consumers whose debt burden has become very heavy might apply for a(n)
a.buy-down loan.
b.interim financing.
c.consolidation loan.
d.personal loan.
e.single payment loan.

3) Persons with very poor credit ratings can still get ____ credit cards.
a.student
b.prestige
c.rebate
d.secured
e.affinity

Please help! Thanks!

Resolved Question: Does the education of our children even matter?

srry for such a long post

Students were enrolled in the CHI/Kaplan Surgical Technology Program year after year, but they were purposefully not being told by Kaplan and their personnel that in all likelihood internship sites, required for the SurgTech program would not be availableCHI/Kaplan upper management, well aware of the lack of internship sites needed to permit students to complete their program, continued for years to recruit and enroll students in a program whose tuition costs approached nearly $24 thousand a year. When the fraud was detected, the college then engaged in illegal practices designed to reduce the number of enrollees by forcing students out on technicalities. Hundreds of student were unable to finish their programs and had their personal lives and credit history ruined. 1,140 names of students that were ‘dropped’ and 25% of those on the list defaulted on their loans. The other 75% were simply ‘deliquesced’, meaning they vanished from the roles.

http://www.mediafreedominternational.org/2010/08/19/kaplan-university-cheats-low-income-students-and-the-washington-post-benefits/

Open Question: Dubai Bank Loan is not cleared due to the loss of job?

I was working in Dubai for about 4 years and in 2009 September I have lost my job. Now I am living in India and jobless. I had personal loan with one of the leading bank (adcb) in UAE and I have paid 9 months of repayment without fail.

My borther tranferred some money to my account after I have left Dubai towards the loan. I am willing to pay the money back in full after selling my property or arranging from somehwere. The problem is that I am not able to contact anyone in the bank. I have sent several emails and fax messages (asking for the final amount to be paid and a request for reduction) to the bank head offices and local branch, but nobody responded. Now I have got another job in Saudi and I doubt whether I can enter Saudi due to this loan problem. I dont want to simply pay the interest just like that. Please suggest me waht I can do. Also I am wondering whether they have already acted legally since I did not pay back anything. What can they do to get their money back? They have branches in India tooo.. Unfortunately, I do not the details of the insurance I have taken at the time of loan…Is there an insurance that pay off the installments when someone is jobless or is it only going to happen if I die?

Open Question: Just married, would like to get joint credit card, what is the best option…?

We already have our joint bank accounts set up. However Wachovia rejected us for a joint credit card, I’m guessing because she has $10k in student loans and no income right now because she is finishing school. We both have separate credit cards with 4k and 5k limits, over 700 credit score, and I have a good job. Would it be wise for me to add her as a joint user on my personal credit card, or should we just apply for a new one jointly? I don’t want anything negative to happen to my current credit card.

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