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Old 12-03-2007, 04:49 AM
Chris Cowles
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Posts: n/a
Default Re: money includes car loan in high-interest consumer debt report

"wolf4jc" <wolf4jc[at]discussions.microsoft.com> wrote in message
news:3E408150-A460-45AE-A7B3-F91946FB696D[at]microsoft.com...
- quote -

> Chris, thanks for your response! It is suggesting to apply the get
> out of
> debt plan, not necessarily paying it off, but the problem is it puts
> everything in one bag: credit cards and a car loan and that obscures
> the
> picture.


On the details page of the credit card accounts, have you check 'pay
balance monthly' or whatever that check box is titled? It's at the
bottom of the details page near the APR. I think it may affect Money's
recommendations about high-interest credit.
--
Chris Cowles
Gainesville, FL


  #1  
Old 12-03-2007, 03:01 AM
wolf4jc
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Default Re: money includes car loan in high-interest consumer debt report

Chris, thanks for your response! It is suggesting to apply the get out of
debt plan, not necessarily paying it off, but the problem is it puts
everything in one bag: credit cards and a car loan and that obscures the
picture.

Greetings,

Maciej.


"Chris Cowles" wrote:

- quote -

> "wolf4jc" <wolf4jc[at]discussions.microsoft.com> wrote in message
> news:413477E0-D9C5-4470-83CE-8061D14B2B7A[at]microsoft.com...
> > Hi everyone,
> > > I have something I can't figure out. In my monthly report Money

> > shows that
> > my car loan is included in my overall high-interest consumer debt.
> > Technically, I don't have any high-interest debt at all as I pay my
> > credit
> > card balances every month, but I can live with the fact that Money
> > treat it
> > as a debt. However, I want to treat my car loan separately (not as a
> > high-interest debt). Any suggestions, please?

> If you're describing what I think you are, you can't control that. You
> just have to ignore it. Money compares the interest rate on your debt
> to the interest rate on your savings. If savings is earning less, it
> recommends paying off the debt first. It does not consider that doing
> so might leave you with no cash at all. Paying off the loan would be
> imprudent in that case.
> --
> Chris Cowles
> Gainesville, FL

 
Old 12-03-2007, 01:39 AM
Chris Cowles
Guest
 
Posts: n/a
Default Re: money includes car loan in high-interest consumer debt report

"wolf4jc" <wolf4jc[at]discussions.microsoft.com> wrote in message
news:413477E0-D9C5-4470-83CE-8061D14B2B7A[at]microsoft.com...
- quote -

> Hi everyone,
> I have something I can't figure out. In my monthly report Money
> shows that
> my car loan is included in my overall high-interest consumer debt.
> Technically, I don't have any high-interest debt at all as I pay my
> credit
> card balances every month, but I can live with the fact that Money
> treat it
> as a debt. However, I want to treat my car loan separately (not as a
> high-interest debt). Any suggestions, please?


If you're describing what I think you are, you can't control that. You
just have to ignore it. Money compares the interest rate on your debt
to the interest rate on your savings. If savings is earning less, it
recommends paying off the debt first. It does not consider that doing
so might leave you with no cash at all. Paying off the loan would be
imprudent in that case.
--
Chris Cowles
Gainesville, FL


  #-1  
Old 12-02-2007, 04:55 PM
wolf4jc
Guest
 
Posts: n/a
Default money includes car loan in high-interest consumer debt report

Hi everyone,

I have something I can't figure out. In my monthly report Money shows that
my car loan is included in my overall high-interest consumer debt.
Technically, I don't have any high-interest debt at all as I pay my credit
card balances every month, but I can live with the fact that Money treat it
as a debt. However, I want to treat my car loan separately (not as a
high-interest debt). Any suggestions, please?

Thank you,

Maciej.
 

Tags
car, consumer, debt, highinterest, includes, loan, money, report
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