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Is it better to pay off a bill before it accrues interest or to pay off other bills that already are accruing interest?
Wiki User
∙ 14y ago
Your creditors will become increasingly impatient with you, the longer it takes you to pay their bills, and therefore it is usually prudent to pay off the oldest ones first. As for the amount of interest you may be paying, that depends upon two factors, the interest rate (which is not the same for all your bills) and the amount of the bill. But pay the oldest ones first.
If you can pay off bills before they start collecting interest, that is a good thing, but you need to make some choices. Make minimum payments on all credit cards on time. Pay as much more as you can on the ones with the highest interest rate first. That will save you the most money in the long run.
If you have a choice between paying off $100 on a card that has not yet started accruing interest and has a rate of 15% or you can pay $100 on a card that is already at 21%, pay off the 21% card first. If it is the other way around on the interest rate, avoid getting hit with the 21%.
Wiki User
∙ 14y ago
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Why should a judgment be paid if it cannot be removed from a credit report before seven years have expired?
Short answer, a valid judgment can be executed against the debtor's non exempt property at any time. A judgment that has been perfected as a lien against real property is more likely to be implemented as a forced sale of the property in question. And a judgment accrues interest until it is paid or satisfied with the judgment creditor.
Can the bill collector who bought the bad credit card charge interest over the interest that has already accumulated before?
Collection agencies can only charge interest if you agreed to it in your original contract. If they actually bought the debt they shouldn't be able to charge any additional interest on it since you did not sign a contract with them allowing them to do so. Please keep in mind that not all collection agencies buy debt. Some are still collecting on behalf of the original creditor which means interest and fees could continue to accrue.
What is the amount of a loan before adding interest and fees?
The Principle.
The number of times interest charges are earned is computed as?
Type y income before income tax plus interest expense, divided by interest expense our answer here...
What is the name of the interest payments that a bondholder receives for purchasing a bond?
Apex- Coupon
When do liens have to be paid off on property?
Liens must be paid before the property can be mortgaged or sold. They should be paid as soon as possible. In some cases interest accrues until the lien is paid off.
What is the difference between net profit before tax and net profit interest and tax while calculating in cash flow suppose if you have income statement then which one is selected npbt or npbit?
Net profit before interest and tax amount is selected for cash flow from operating activities and after that interest and tax is deducted while net profit before tax means net profit is adjusted for interest already while net profit before interest and tax means net profit is not adjusted for interest as well as for tax.
Define accrue and due?
In financial or banking term, there is a subtle difference between interest accrued and interest due. for example, if you open a saving account, the interest start accruing as soon as you put any amount of money in the account. However, there may be rules for this account, saying for example, that you will get the interest only if you leave the money at least 3 months in the account. If you need urgently the money and withdraw it from your saving account before the 3 month period has passed, then you will not get any interest on this money. The interest has accrued on your account, but it is not due, because you withdrew the money to early. Example: 3-month Saving account, 12% interest per year (1% per month): - 1st of January: open account and deposit $1000 - 1st January to 28th of February: interest accrues on the $1000 - 1st of March: withdraw $500: half of the interest accrued is lost - 1st of April: withdraw all the money from the account: - the remaining $500 + the interest due for 3 months on $500 (because this amount stayed at least 3 months in the account) I hope this helps, Excel-Hocam
How are dividends given in a bank account everyday or monthly?
Bank accounts differ widely. Some banks require a minimum daily balance before they give interest (meaning the balance cannot fall below that minimum on any day of the month).Generally speaking, for accounts that do accrue interest, it accrues (adds up) each day, but it is only posted and given to your account ONCE a month.
Do Sears and Best Buy offer coupons for free no interest financing?
Most homeowners may already know this, but since I've never had to purchase a bunch of large appliances, I only noticed this recently while fawning over fancy appliances (Man, I'm getting old). When stores like Home Depot, Lowes, or Best Buy offer No payments and no interest for 12 months, it's true, but with an interesting catch. If you don't pay in full before that 12 months ends, they will charge you back interest for the full price of the purchase from the date of purchase, often at about 20% APR! It doesn't just start accruing from when the promo period ends.
If a grey stopper tube is collected before a lavender shield tube what can occur?
If a grey stopper tube is collected before a lavender shield tube, silicon accrues.
How long can you go without renewing your registration?
Legally you have to renew before it expires or risk tickets/fines but late fees stop accruing when they hit the maximum at about 3 months
What is the expansion of PBDIT?
PBDIT stands for "Profit Before Depreciation Interest and Taxes" How to abbreviate "Profit Before Depreciation Interest and Taxes"? "Profit Before Depreciation Interest and Taxes" can be abbreviated as PBDIT.
How much interest will be charged on my loan if I repay before interest becomes due?
If you repay your loan before the interest comes due you will be probably be paying no interest on your loan. You will probably only be paying off the principal.
What is a interest bearing note payable?
Is interest deduct before the note payed out.
Why is it important to analyze the interest rate before refinancing?
If you do not analyze the interest rate before refinancing you could end up with a higher interest rate which results in more money that you have to spend.
A company's fixed interest expense is 8000 its income before interest expense and income taxes is 32000 Its net income is 9600 The company's times interest earned ratio is?
Formula for times interest earned = earning before interest and tax / interest expense Times interest earned = 32000 / 8000 = 4 times
