401k loan to pay down cc debt? I have $15k in credit card debt -capital one-$7800 of $8k limit-28% -capital one – $3400 of $3500 limit-24% -discover – $4500 of $5k -0% interest until Feb 2026 Car loan- $32k bal-$790 monthly-9% interest Rent- $1500 Utilities-$300 Food-$400 Insurance-$280 Checking-$1500 Savings-$4k 401k-$17k ($8k available for loan at 8% interest rate-$77 per m…

Taking out a car loan when married, does it matter whose name the loan is under? Buying a new car to replace one of our old ones. We just got married in September. I have a car we bought last year with a loan, title, and insurance in my name. The car we are replacing has the title and insurance in her name. Does it make a difference as far as credit score or anything else who the title, loan, and insurance are under? I plan …

Dad died in October, mom wants to pay off auto loan (originated 2020), loan is in grandpa’s name (died 2008). Bank won’t give balance. This is insanity. My dad died in October 2024 and my mom wants to pay off “his” auto loan that originated in October 2020. Somehow 5/3rd Bank put the loan in my deceased (2008) grandpa’s name. That’s right, they gave a dead guy an auto loan… My dad always thought something was off with since he could never setup autopay and had to physically g…

How can I pay my car loan off faster? I had a car loan that I owe $22,700 on right now. It’s only been a couple months & my car payment is $500 a month ( ridiculous I know ). I did what I did to get in a good spot / secured new employment. I’m making about $2700 a month on the lowest end & Im trying to decide the best way to pay this car loan off quicker. Should I pay monthly or wee…

To payoff auto loan or not? 2.54% interest rate, about 18k left to go on my vehicle. Payment > 600/mo. Working on a claim with the VA, if successful there will likely be enough backpay to knock out this loan. Is this a wise move though? Considering that investing the money instead could yield > 4%. Although it does free up that payment amount from my budget which could the…

Stuck in car loan with EX I live in Canada So a few years back I co-signed a car loan with my ex to get her a better interest rat on the car (one of the most expensive mistakes I’ve made). Well long story short, we are no longer together, It was supposed to be her car so she kept it and was making payments….turns out she was making minimum payments only and now hasn’t …

How does refinancing a car loan work? Sorry if this is the wrong place for this, I don’t know any other finance subreddits and I know their are a lot of smart people here. TLDR: Can I use my Navy Fed pre approved loan to pay off the loan I just took out with Toyota. I just bought my first new car and made a huge mistake, I got pre approved for a car loan through my bank (Navy Fed) a…

Unexpected Student Loan Deferement – what do I do with ~21K for 4 years? Hello and happy thanksgiving to those of y’all that celebrate! I recently started graduate school and was surprised to find that my undergraduate loans were automatically put into “In-School Deferment” for the duration of my degree (~4 years). I now have ~21K in the bank earmarked for these loans that I’m not quite sure how to use. I’m not able …

Took out a 401k loan after wife’s cancer treatment I’m a 35 yr old male making 60k a year. My wife was recently making close to this. We’ve always been financially conservative and both have retirement savings. I have over 100k in mine and another 20k in a Roth. We own our property and a small home on it that was a gift from family. We have bills that are loans for home improvement and property …

Should I take out a personal loan? I have about 9k in credit card debt from some financial problems last year. Each credit card has 29.9% apr which I recently discovered is not the norm. I was wondering if it would be better to take out a personal loan and just put in an extra $100-200 each month to pay down the principal. One of the better loan offers I have is for $10k with $33…

Does a personal loan make sense in my situation? Here’s the background: I am carrying 15k of credit card debt at 27.74% apr. I am currently charged around $350 interest monthly. I have the opportunity to take out a loan for that same amount for 60 months at 14.87% apr which would put my monthly payment at $335/month. I currently pay more than that in monthly payments to my CC. Is this a sensi…

Paying off all student loan debt by selling stock? Graduated from law school X years ago. Took out $180K and have made roughly 13 years of payments, always on some income contingent plan. My loans have ballooned to $271K (after already paying nearly $150K). Current balance is $261K with $10K in accrued interest (for the total of 271K) I have my finger on the trigger to sell my non retirement sto…

Need Advice for Student Loan Repayment Hi everyone, I need some personal finance advice. I’m 23yo earning ~US$80k. I’m contributing the minimum to Roth 401(k) and HSA to get the employer match. The rest of the money is all deposited in a checking account which currently holds ~$25k and that’s all I have besides the 401(k) and HSA funds. I currently have $27k in federal student loans …

Loan and Savings advice Hello, I’m currently 29 years old. I have $68,000 in my high yield savings account (4.5%) interest. $40,000 (4% interest) in student loans, and $17,000 (3.99% interest) on a car loan. Seeing if anyone has advice for me. Should I pay off my loans and become debt free or continue to make payments and earn the 4.5% interest? Also have been consider…

personal loan question While digging out of an unemployment drought (I’m employed now, but being paid much less), I racked up some credit card debt. I have around $6,000 of it and I’m wondering is a personal loan would be a good option? I’ve already done one balance transfer, and tried to apply for another card to do this for the rest of the debt, so I could have 0% i…

Should I pay off car loan at 7.44%? About $24k left on this 5 year loan, monthly payment is $580 (I’ve been paying $600). I originally took out the loan rather than paying for the car in cash because I try to put most of my money in the s&p 500 since it historically returns > 7.44% but I do have a decent amount in my savings that I could afford to pay it off and still have a good …

Which loan should I work on paying off first? I have multiple student loans with multiple lenders. My highest interest loan is $37,000 at 14.14% and my newest, probably most manageable one is $18,000 at 9.8%. I’m not sure which one to start working to pay off first. I could definitely pay off the $18k one within a year, the other I couldn’t. In total I have about $130,000 in student loans w…

Car loan 2.99 for 60 months or 3.99 for 72 months. I would pay about $100 less every month which could go somewhere else like investments or insurance. I am buying a hyundai santa fe 2025 so equity would play a big factor as well. Any thoughts? submitted by /u/megg_15

401K loan or withdrawal to pay down CC debt? I wanted to see what you guys think would be the best course of action to get rid of my CC debt. Scenario: Using YNAB for budgeting. I’m currently sitting about 20 – 25 days for Age of Money, so I’m not quite ‘paycheck to paycheck’. more like 2 ahead. But it’s still tight – no extra curricular activities or frivolous spending. Figures below are…

Car loan at a negative equity Hi! Asking for a friend, they currently have a $13k value car with $29k auto loan. It was purchased in 2022 for a $35k price, they pay $1000 per month and it has only gone down to $29k after 2 years. They said they had really bad credit (600s) when they purchased the car and they also traded in an old car for a new one. Now, their credit had inc…