Question by Debra 89: If I own a business (LLC)w/ 2 partners and I owe personal debt, can the creditor take it from my business?
Best answer:
Answer by f1scrilla
They can take it from your share of the business as it is a personal asset of yours.
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Question by icantthink1: during the 1920s, the average americans personal debt?
A. dropped rapidly
B. declined slightly
C. remained about the same
D. increased steadly
Best answer:
Answer by JuanB
D. increased steadly
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Question by Lil: Please help me, I need a personal loan to put credit card debt together.?
I have $ 15,000 in credit card debt and I need a loan to help me put my debt together and make only one payment. My credit score is 615. Does anyone know who can help me with this. I don’t want the debt consolidation consultants.
I don’t have any late payment history or other negative input.
Best answer:
Answer by trial d
Try www.prosper.com or www.fundable.com, they have people to people loans and stuff.
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Question by Zero1: How is the amount Americans pay, in personal income taxes, related to the annual interest on the national debt
???
Best answer:
Answer by StephenWeinstein
Strangely, it’s not, at least not in the sense that you are implying. Congress sets the tax rates. They do not automatically adjust according to changes in interest on the debt. Congress should be required to keep tax rates high enough to pay the interest with tax money, but is free not to do so. If the interest exceeds the collected tax, which it usually does, more money is borrowed (to pay the interest), which increases both the national debt and the interest on it.
Some of the interest on the national debt is paid to Americans, who pay personal income tax on whatever interest they receive. The personal income tax on the interest that one receives is, of course, related to the amount of interest that one receives. However, the interest paid to non-Americans (for example, some of the interest on the U.S. national debt is paid to the government of China) does not affect personal income taxes paid by Americans.
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Question by Jason S: what difference does government debt make?
Does national debt even matter? It’s not like other nations will stop giving money to us… Nations like China are dependent on the US buying from them… What’s the big danger in National Debt? It’s not like personal debt.
Best answer:
Answer by Nigel Smith
Everyone thinks China is dependent on the US, China has a huge internal consumer market they have’nt fully tapped. China exports more to Europe now than the US about 2/3′s of their exports goes to Europe. China and most countries will survive without the US.
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Question by sheron h: i need money im in bad debt does anyone know a place to get an personal loan?
i don’t dont qualify for rental assistance programs , they say i make too much, and the debt im in needs to be paid immediatly before im faced with eviction. Working but hrs can’t catch up.
served with eviction 3-day notice last month and now this month. Trying to downsize to budget, but thats where my credit history comes into pay. All bad.
Best answer:
Answer by Ken
You cannot borrow your way out of debt. You need a budget that you can live with. You should determine your income and your fixed expenditures (food, shelter, transportation, etc.) and decide if your income meets these needs. If it does not, you will have to find a way to reduce these expenditures, increase your income, or get assistance. If your income does meet these expenses but not other debts such as credit card, car payment, etc. then you have to make some hard choices as to which of these are necessities and which you can do without. You can talk to a consumer credit counsellor in your area to try to make a budget that works for you. As a last resort, you may have to consider a chapter 7 or 13 bankruptcy (you will have to speak to a bankruptcy attorney to determine which is right for you).
Best of luck.
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Question by Destiney: How do i locate all of my debt?
I am trying to locate all of my personal debt so I can begin paying them off. Is there any particular website or phone number to call to locate everything I need?
Best answer:
Answer by Rodney
AnnualCreditReport.com will list out all your pending debts
What do you think? Answer below!
Question by Jenna: Will my small business debt make it harder for me to purchase a home?
I used to run my own small business from home but I now have a regular full time job. I plan on buying a home in the next 2 years & I’m wondering how hard I should work to pay down the debt from a small business I used to run (I haven’t filled out the paperwork to officially close the business).
The business has its own tax id & I currently use my income from work to pay down the debt on 2 business cards I have, but I’d like to lower the amount I pay (payoff in 3 years instead of 2).
The business accounts are in good standing (no late payments, not maxed out, etc.) & I have no personal debt and pretty good credit. Should I focus more on increasing the amount I save for a down payment on the house, or paying off the business debt?
When I apply for a mortgage in 2 years will I have to tell the lender about the debt I owe on a business that, on paper at least, is still open? (It’s a sole proprietorship)
Best answer:
Answer by tonytumasone
focus on paying off the debt because if you have good credit then it wont be hard finding a higher LTV (loan to value) loan. Just get rid of the debt. A good credit score and income is alot more important that having money in reserves or a bigger down payment when it comes to getting a loan
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