SEP IRA

Posts Tagged ‘ira’

Question: Does it matter if i pay back a charged-off auto loan or not?

I have about 8 collections on my credit report, which are in the hundreds amount. i never communicate with them over the phone or mail. There’s also an 8k auto car loan that’s charged-off by the bank and car repossessed.
it’s been 2 years and i have never communicate with any one of the creditors. there’s no judgement or anything.

i racked up all these debt while i was still in school, i never work for a company during the time and now i am self-employed and my earned money saved in my sister’s saving account as gifts, and half of it contributed to SEP IRA And Roth Ira which they can’t touch anyway.

i could pay back the loan easily but should i? is it easier to just wait 4 more years and let them disappear on their own? even if i pay them, they won’t take it off the records and might restart the debt and i’ll have to wait even longer.

Answer: I suppose you’re ignoring the moral obligation to fulfill a contract you only got because you promised to honor it.

Depending on your state, they can still come after you with a judgement, and probably have a couple more years to do that. You can ignore this and gamble. Either you get a judgement, and another 10 years of ruined credit, or you get off scott free for screwing these companies for trusting you.

Your decision.

IRA DECLARES WAR ON THE BANKS OF BRITAIN

Financial Education: Roth IRA 2010 Conversion–Is it for you?

Question: What is better for a one employee S Corp(hair styslit) a SEP IRA or Roth Ira?

Total income is about 50,000

Answer: BOTH.. and with that income, you can have BOTH…

Remember.. the Roth is POST TAX… so your income from it becomes tax free…The SEP is PRETAX ( like a 401K..)…

Your Money: Roth IRA’s