0
If you are making you monthly payments on your student loan can you still get your income tax at the end of the year?
Wiki User
∙ 15y ago
If you are not delinquent with your student loan, your federal income tax refund will not be garnished.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?
It shows on your credit report even before they start making payments.
Do you have to pay income tax on a repo deficiency that you are making payments on?
If you are making payments on a repo deficiency you will not have to pay income tax on the amount. You would have to pay income tax on any part of the deficiency the company wrote off or forgave. The IRS expects you to claim the forgiven amount as income on your taxes.
How can one get a low rate on the mortgage refinance?
There are several ways a person can get a low rate on the mortgage refinance. A person can get a lower rate on their mortgage if they make the payments longer, making the monthly payments be less.
Is it better to settle an account in collections or pay it in full via monthly payments?
Personally speaking, it is better to settle with a collection agency rather than making monthly payments. Theres only one ceveat....you must pay the collection agency in full. Example, lets say you owe $1000 to a credit card company. A collection agency will say, pay $600 NOW and this will settle the balance. So, if you dont have $600, its a 'catch-22'. You are better off making the monthly payments until the $1000 is paid.
How can you get a student loan if you have bad credit no cosigner?
Apply for a low limit credit card - $100.00. Use it sparingly and make regular payments for 3 months, pay it off in the 4th month and repeat the cycle for 12 to 18 months. This will establish you as capable of making monthly payments on time and of paying off a debt to a $0 balance. Never be late with a payment.
Federal Student Loan Payment Based on Income?
Borrowers who enter the repayment period on their student loans, but have trouble affording their payments have an option. The federal loan service allows borrowers to make payments on their student loans based on their income. Borrowers must submit records of their income to qualify for income-contingent payments. The lender will evaluate the borrowers' income and set their payment amount accordingly. Borrowers still accrue interest during the period of time that they are making income-contingent payments. However, borrowers may still save money by making these lower payments if they do so in a timely manner, thereby avoiding earning late fees or defaulting on payments.
Can a mechanic put a mechanics lien on your car as long as you are making monthly payments of some kind?
If you fail to pay the mechanic for services then they can put a lien on your car and this has nothing to do with you making the monthly payments on time.
If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?
It shows on your credit report even before they start making payments.
How come a monthly statement is not sent by the collection agency when making monthly payments?
Because they don't. It is a lot of agency's policies.
Who is responsible for making monthly payments when there is a primary buyer and a co buyer?
either OR both
Can you receive more than 60 percent of you monthly income under disability insurance?
That's about the limit. They don't want you making more $$$ injured than working. Also, disability payments generally are not taxable.
Will you get your stimulus check if you owe on a student loan and you are currently making payments on it?
Yes.
Do you have to pay income tax on a repo deficiency that you are making payments on?
If you are making payments on a repo deficiency you will not have to pay income tax on the amount. You would have to pay income tax on any part of the deficiency the company wrote off or forgave. The IRS expects you to claim the forgiven amount as income on your taxes.
I bought a truck from someone and was making monthly payments. This person was not making payments to the bank. The truck is in the process of being reposed by the bank. Can I put a lien on the truck?
nothing you can do without a title in your name
Is an amortization loan worth it?
Amortization is just another name for the monthly payments you will be making. It is not a type of loan.
What does the sale of a student loan mean?
You'll be making your payments to a different financial institution.
Does a person get to stop making student loan payments when they turn 65?
if they have paid the loan off they do.
