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Archive for the ‘Personal Finance’ Category

Do I Have To Pay Taxes on Interest from CDs, Savings, Checking Accounts?

This item was filled under [ Personal Finance, Saving, Taxes ]

One common question regarding deposit accounts and interest rates is whether or not you have to pay taxes on interest from CDs, savings, and checking accounts. The short answer is yes. If you earn interest on a deposit account, you normally have to pay taxes. However, it helps to know a little more about the [...]

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Can Banks Take Money From Checking Account To Pay Loans?

This item was filled under [ Personal Finance, Saving ]

Can a bank take money from your checking/savings account to pay off your loans? An Atlanta couple were surprised to have their Wells Fargo checking account emptied by the bank in order to pay back a student loan. The bank deducted $4,059.82 from the checking account, which was originally a Wachovia account, to put toward  the $10,000 [...]

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