I heard the best way to finance a car loan is through a credit union, true? What's the best way to shop for the best rate on a car loan?
Answer: Credit Union has the best rates, call the ones in your area and ask, most Credit Unions ask/require that you open a Savings and or Checking account with them before a loan application is granted. Call your local banks and compare rates. Check rates on line as most Credit Unions and Banks have websites.
Category: Buying & Selling; 2010-03-09 15:14:11
2. Can I sue partner for misappropriation?
I am a web developer and full time student that traded one of my assets (a profitable website) for a 30% stake in a small business that sells a proprietary product in the United States. The situation is quite simple that I'm facing. My partner, who owns the lionshare (70%) of the company, decided we should sell the website since we had a good buyer (this is true). So we sold the website for $xxx,xxx.00, much higher than I anticipated. Now that we have a huge influx of cash flow after selling an asset, we have to make up for the lost revenue. However, my partner has been increasingly "frivolous" of his spending. I have confirmed my suspicions that he is using corporate funds for at least SOME of his personal pleasure. For example, for my 21st birthday he justified using the corporate credit card for our "night out" together. This is ok to me. However, I think that my partner has broken his limits as partner by, over a long period of time, using corporate funds to finance his lifestyle. As you may expect, this does not sit well with me. I have strong suspicions that he is using the money from the asset sale, and now he is spending of the cash on himself. I don't know if he THINKS i think it's ok. The website was something I worked hard on for three years of my life, so I'm obviously going to be more attached to the cash than him. But I am only 21 years old, and he is 33. So I'm pretty sure something is going on here. Bottom line, can I sue him for misappropriating funds? I don't want to talk to a lawyer yet because I would hate to make our business go sour if it is not true. Any advice and/or suggestions is very appreciated. We are an LLC corporation doing business in Illinois. I believe he is not being truthful about our spending because he has consistently demonstrated to me that he simply does not respect my money. He has straight up told me he was considering insurance fraud. Big flag, right? He also talks about laundering and what not. However, I have to admit that I do not know what he is speaking about half the time. I just pretend like I do (probably not good, but hey). Anyways, I don't think he realizes that he is interfering with my financial security and future, IF he is misappropriating funds.
Answer: You don’t say if your company is a corporation (or LLC) or a partnership, nor do you say why you think your partner is spending the company’s money for his personal benefit; but let’s say he is. You should confront your partner and ask him if he’s misusing company funds. If his response is anything other than totally satisfactory to you, tell him you want to have an independent accountant examine the company’s books and records. If you don’t have copies of the company’s tax returns, tell him you want them. If your conversation is less than totally productive, or if he refuses to allow your accountant to examine the company’s books, tell him you will have no choice but to file a civil suit against him and report him to the IRS for tax evasion. That should rattle his cage. You might also want to indicate that (whether it’s true or not) you have a lawyer who is prepared to go to court and get a restraining order that will bar your partner from appropriating company funds. You don’t want to wreck the company if you can avoid it, but if your partner is stealing company funds, you need to find out – the sooner, the better. Good luck.
Category: Law & Ethics; 2010-03-09 10:13:33
3. My father recently died and I just located an IRA that he had. I'm the only heir. Can I claim it?
I no nothing about finances but desperately need money for the mortgage and living expenses.
Answer: Doctor Deth is right and the others are wrong. IRAs do NOT become part of the probate estate unless the owner made his "Estate" the beneficiary. Most people name their spouse or children as beneficiaries, and they have to sign beneficiary forms when they open the IRAs. Call the custodian (company that managed the IRA and sent him statements) and ask them what to do next. You do NOT need to go thru probate and wait for the estate to close if you were named the beneficiary on his beneficiary form.
Category: Personal Finance; 2010-03-09 09:43:30
4. The Chief Accountant For The Entire European Union Budget Joined The ..UKIP..Party...Why..? U.K.?
Marta Andreasen the chief accountant for the entire EU budget joined the ..UKIP...party. She revealed what what was really going on in the rotten heart of Brussels. As recompense for her efforts to make the EU finances transparent and accountable the corrupt Brussels set out,.... 1st To silence her... then humiliate and finally destroy her. No other case shows more clearly how the EU, through stealth, deceit and bullying has become a modern tyranny. This is a glimpse of the frightening power of Brussels. Why should they want to hide the truth from everyone. She has joined the ...UKIP party because she knows from the source of her work that the EU is corrupt down to the core and she wants to fight it... With evidence like this , why in gods name do people still vote to stay in a corrupt system like the EU. Alan..... I dont see your point... Do you assume that the UKIP party members are all white British. The UKIP party is not racist and welcomes all. Because they aim to close borders and restrict some immigrants does not make them a racist party.
Answer: Marta Andreasen refused to deal with EU accounts after realising they hadn't been signed off for over 15 years. Can you imagine a Business doing that? Alan - UKIP are a non sectarian non racist party, Marta Andreasen holds British Citizenship and is therefore allowed to join any political party she chooses. Check out the UKIP website, http://www.martaandreasen.com/Home/Home.html
Category: Other - Politics & Government; 2010-03-09 08:48:49
5. What happens if you stop paying your credit card bills?
I have my own opinion (which I tested) about this but I want to see what you guys have to say. Think about it in this context, by doing this, you are trying to negotiate lower minimum payments (not settle) and you have no plans to FINANCE a car or a house in the next 3 years..... Also, you are banking what you are saving in minimum payments monthly to pay off each credit card starting with the lowest balance........ What else do you have to lose besides you credit standing? It will rebound with each debt that is paid in full anyway...so what are your thoughts? Any additional info about how credit works is at http://myfico.com And by credit standing, I mean your CURRENT credit standing. Most debts are written off between 120-180 days....basically turn off your ringer and wait for day 119 to answer (it is still in internal collections)....by this time, they will work with you and lower your minimum payments to avoid writing off the debt for pennies on the dollar. I figure, never let it go to collections and if you're going down, make the decision to do it once, so that when it is removed after 7 years, you've already cleaned up your own credit report. And with each year it has a lesser impact on your credit anyway. Just keep a small limit card on hand and pay it in full every month (so charge gas and groceries within your budget) so that you still are building credit....or paying a bill on time and in full. And by the way, they also lower your interest (normally between 3-9 %) during this time (usually a year), so you pay them as agreed and double pay over the duration of the agreement so that when your minimum payment goes back to normal, your principal has decreased significantly. Fear keeps us at our creditor's mercy sometimes. I did this myself a while back (of course after researching what debt settlement and management companies do) and I knew I would get these responses from the average person. If you own your own business, why would you need a job ;-) anyway lol and also, I paid off $20,000 worth of college credit card idiocy this way lol.
Answer: I understand how you feel but you must understand there are other things that can happen besides simply trashing your credit. They can take you to court seek a judgment and if they win and let's face it they will at that point they can garnish your wages (if your State allows it), attach bank accounts and file liens on any real property you may own like cars, boats, land and homes. Add to this that the amounts will double with interest, late charges and additional fee's plus the fact that all of this will show on your credit for the next 7.5 years and it can become very damaging in the long run. I wish you the best of luck whatever you decide.
Category: Credit; 2010-03-09 07:22:53
6. Are you searching under your floorboards for them old twenties.?
its the end of them 30 june the edward elgars http://uk.finance.yahoo.com/news/elgar-20-note-no-longer-legal-tender-tele-30b4915a2fad.html
Answer: Gordon Bennett I have a biscuit tin full of the blighters. I`m gone!
Category: Polls & Surveys; 2010-03-09 01:45:50