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If the person has been paying on the debt, but the creditor is still pursuing legal action, it would seem negotiating might be feudal. It never hurts to try, however, creditors do not like lawsuits, as they are time consuming, expensive, and often end up with the debt not being collectible. The reason being, the debtor has no property which is not exempt under the state laws. If the person is gainfully employed,the creditor is probably hoping to receive a judgment writ for wage garnishment or bank account levy.

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โˆ™ 2005-05-01 15:33:19
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Q: If you are being sued for a bill you have been paying should you respond by offering a monthly payment?
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Can I pay an extra monthly car payment to speed up the pay-off, like on my mortgage?

Yes, if you are paying of a car loan, there is no penalty for paying over your monthly payment. However if your monthly car payment is on a lease agreement you will have to refer to the terms of your lease as to what is allowed.

Which monthly bill is money spent towards paying off debt?

Money spent towards paying off debt often comes in the form of a monthly credit card bill. A car loan payment is also money spent towards paying off a debt.

What builds credit faster paying the monthy minimum or in full?

Paying your bills in full is always better than paying the minimum monthly payment. When you are paying your minimum monthly payment your balance continues to grow because you continue to shop and the interest continues to be add-on and it will take years and years to pay off. (by law, the bill will show how long it will take to pay your bills, if you are paying the minimum monthly payment). That is how people get overly in debt and high balances affect your credit score. my advise is: treat credit cards as a replacement of cash, (to take advantage of the rewards/benefits of the card), NOT AS A FAST LOAN.

Isn't paying no interest loan by paying monthly due amount better than paying in full in term of improving credit score by having good payment history?

Making monthly payments on a no interest loan is way better than paying it off in full if you are looking to improve your credit score.

What are some shortcuts on a loan calculator?

Multiply the monthly payment you are required to pay by the percentage interest you are paying. This will give you the amount of your loan each month that goes toward interest. Subtract this number from the total monthly payment for your amount of principle.

Will paying extra on mortgage principal lower monthly payment?

Generally no. If you pay extra on the principal you will pay off the loan earlier, but your monthly payment will stay the same. If you want to lower the payment, you will need to refinance. But paying extra will help you payoff your loan faster and can save significantly on the interest paid. For example, a 300,000 loan at 5% for 30 years, paying just $200 extra per month reduces the number of monthly payments by 78, or 6.50 years, and reduces the interest and total paid by $69,210.39. A significant savings to you.

What is a payment calculator loan?

A payment calculator loan is a loan where the monthly payment that is due each month has been calculated. Depending on what type of loan it is, you may have to start paying now, or you may have to pay later.

Does the money you pay monthly on car insurance go toward your premium?

That is what you are paying monthly is your insurance premiums. You have a choice of payment plans that are best for you. You can pay it once a year or one a month.

How can you get your own house?

The simplest way: make enough money to place an offer on one and enough to continue paying the monthly payment.

You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?

What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.

How can you lower your monthly car payment?

You can lower your monthly car payment by making a larger down payment, so that you borrow less money in total. You could also choose the loan with the longest term, for example, paying $250 per month for five years instead of $417 per month for three years.

How to Pay Off Your Car Loan Early?

The earliest way to pay off your car loan early is to pay a little above your monthly payment each and every month. The majority of your monthly payment, especially during the early months, goes toward paying interest and financing fees. Even paying a small amount extra can be the equivalent of making two payments that month. Additionally, these small payments add up over time. Paying an extra 10% each month means that in less than one year, you will have already shaved off one monthly payment.

What is the diffenece between biweekly and bimonthly?

Bi-weekly is every two weeks and bi-monthly is two payments every month. Because most months are more than 4 weeks the bi-weekly payment amounts to an extra payment over the period of a year. The total number of payments when paying bi-weekly is 26 whereas its 24 payments when paying bi-monthly.

Where would I find information on paying housing rent?

I would refer to my real estate provider on payment procedures and I would also gather information from friends and family for their own experiences on paying the monthly rent.

What does a car amortization calculator do?

A car amortization calculator lets you compare payment options, like bi-monthly, monthly, or bi-weekly payments. It could help you organize your payments and facilitate paying off your car.

How does the down payment affect a mortgage?

A down payment will reduce the principal borrowed which lowers your monthly payments. A large down payment may also help lower your interest rate and may help you avoid paying PMI. If, for example you were buying a $200,000, at 5% for 30 years, the payment would be $1073.64 per month. If you put 10% down, or $20,000, your monthly payment would be $966.28 and you would save about $20,000 in interest.

Is there anyway of negotiating to pay less on a collection instead of paying the full amount?

Possibly a lesser monthly payment perhaps, but no reduction in the total amount owed.

What is the monthly payment on 4000 if the percentage is at 8.6 percent?

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Is paying off my mortgage in full a good idea?

Yes, paying off your mortgage in full is a great idea as you can escape the loan and have peace of mind at night. You can also have more flexibility in your finances as you have no monthly mortgage payment to make.

Is a Payment for a vehicle Loan Liability considered an Expense that would show up in my monthly expense report in my Quicken XG 2004?

Yes payment of loan liability is your expense decreasing the liability as well as asset from which you are paying the loan liability.

What does auto payment calculator mean?

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If your credit score is 590 and you are paying everything on time how much will it go up in 6 months?

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Based on the information you provided, your monthly payment would be $525 a month. You will pay approximately $1,471 in interest over the course of the loan, so you may want to consider paying a little extra, if possible, each month to lower your overall cost.