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#1 |
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Registered User
Join Date: Jan 2007
Posts: 2
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Private loan 64k
Hey everyone i am in a little pickle, but better now that i have a job...lol
So i have a reconsolidated loan that is at $63000 at a 6.0% Variable rate through wells fargo. Now i make 65k a year at my new job. This is the only debt i have, I use an AMex so i don’t monthly credit card bills. My question is what is the best way to quickly pay this off. Should i just pay the minum and put money in to stocks or saving and wait till i have cash or should i start paying more then the monthly "$550 dollar or so payment its been. My next question is that wells Fargo said they won’t give me a 1080 for my taxes. Can i still write off the interest even after i reconsolidated Thanks everyone ~Brand |
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#2 |
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Registered User
Join Date: May 2007
Posts: 3
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They might not supply you with an actual 1098, but it might just be a letter. Either way they legally need to tell you how much you paid in interest. You'll pay well in excess of the maximum $2,500 you can deduct on your taxes for years to come.
I recommend paying as much over the minimum you can to get them paid off. |
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