August 3rd, 2009 at 07:41pm Under Consolidation Loan
You have not been paying attention to the financial news. It is because of the “credit crunch”. The implosion of the credit market that caused the prices of houses to start falling. Because cheap funding is no longer available, such loans are no longer profitable for lenders.
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August 3rd, 2009 at 06:51pm Under Consolidation Loan
Would I get approved for a debt consolidation if I owe $7000 on an auto loan and misc. debt. How does a debt consolidation work? I dont even have the car that I am paying off anymore, which sucks. Anyone that could give me info on this would be great!
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August 3rd, 2009 at 06:39pm Under Consolidation Loan
there are plenty
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August 3rd, 2009 at 05:50pm Under Credti Debt
The way most Americans are buying almost everything on credit it is very easy to get into a situation of bad credit. As per research, an American has, on an average, eight credit cards, and with such a bonanza, it is very easy to lose track of the expenses you incur along with payments you make. People easily forget to correlate their incomes with their expenditures. When such a thing happens, you are in deep trouble and may need the services of Bad Credit Debt Consolidation services.
A variety of credit card companies, offer a variety of cards with tempting offers, and this is the beginning of your downslide. You should sign up for only that particular credit card that meets with your requirements, and keep track of all your purchases and make your payments in FULL, every month. You are bound to get into a very bad debt situation, if you only keep on making the minimum payments.
What Debt Consolidation Services Do
You wake up one day to the fact that you are in deep debt. This is where the Bad Credit Debt Consolidation services come in. Such services do not only provide debt consolidation loans but offer other services to get you out of your bad debt.
Bad Credit Debt Consolidation involves sitting with experts who help create a plan to reduce your debts. They help you make a monthly budget after listing all you debts, and knowing about your total income. They help calculate what minimum amount you can afford to payback every month, and you have to ensure that you stick to that plan.
All Bad Credit Debt Consolidation services will advise you to stop using your credit cards. This stops your bad debt from getting worse. Your only option is to stick to the plan, where your Bad Credit Debt Consolidation plan has reduced your numerous payments to one monthly payment. This is your only hope to stay out of bad debt.
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August 3rd, 2009 at 12:50pm Under Consolidation Loan
if you were tempted to use your cards again are they still active
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August 3rd, 2009 at 12:49pm Under Best Credit Card
I owe roughly $15,000 (between two cards). I was young and immature when it came to money and now I have to pay the price. I tried to get a new credit card to consolidate both balances but I was told in an application that my credit score was lowered by too many enquiries over a period of time (big bummer) so I can’t get a new card. I almost went with Capitol One, thats how desperate I was. But alas I’m still stuck with these two high interest cards. They’re college cards that I got when I was 18 (24 now). I tried to get the companies to lower the interest rate but they gave me a song and dance about the rates being on perma-set rate. So i need advice/help bad. 
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August 3rd, 2009 at 12:37pm Under Consolidation Loan
My wife was having seizures when a student loan consolidator called and tricked us into thinking he was aes. His company is only one letter off and she thought he was having us go online to check her loan. She told him she was not with it and having seizures at the time, but he had her go through the web site and electronically sign a consolidation document. We didn’t want to consolidate the loan and when we figured out what happened we called back and had it canceled.
It has been 3 months now and we just received a consolidation package from another company in the mail. The first company sold our loan to another company even though they told us it was canceled. We never got a hard copy of the loan cancelation from the first company, and the second company isn’t letting us out of the loan.
Is there anything we can do? We have no evidence that we canceled the loan. We talked to an attorney and he said we didn’t have any options. Please help us come up with something we can do.
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August 3rd, 2009 at 07:45am Under Consolidation Loan
I am going to be going into a two year paralegal program starting in the fall and I am pretty sure that I got the Stafford Loan for $3,500 and I got a grant for about $900. The Paralegal program will end up costing about $11,000 so I’ll need to take out a private student loan.
I find all of the financial aid and loans to be very confusing but I was looking at a private loan through Chase Manhattan bank that didn’t seem so bad. I was wondering about loan consolidation. Are there any banks that will consolidate federal stafford loans and a private loan together to help you have a lower monthly payment? Chase Manhattan said you cannot consolidate a federal and private loan but I was wondering if maybe another bank would do that? Or is there another smart way to go about handling your loans after graduation? I’m just trying to think of the whole picture and plan for graduating.
Also, when you take out a private loan it seems like they all have the variable thing going on..why don’t they offer a fixed rate? Do you try to consolidate and get a fixed rate when you’re done school?
Like I said before…financial aid is very confusing to me. Any help would be greatly appreciated.
Thanks!
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August 3rd, 2009 at 06:50am Under Consolidation Loan
This question not only applies to student loans but most loans in general, I’m assuming.
Here’s the problem: I have a consolidation loan for $25k with repayment to be completed in 20 years, leaving a total pay off balance of $35k. The question is: if I make more payments now, will this decrease the total pay off balance?
If this is true why doesn’t everyone get a consolidation loan (that way you can have the security of lower monthly payments, if you need it) but then make higher payments thus decreasing the life of the loan?
Basically, people say to not consolidate because you’ll end up paying more in the long run. But I want to counter act this by still having the security of lower monthly payments but make the higher payments when I can afford them, and yes I do realize this will ultimately make the original loan slightly higher depending on the frequency I make larger payments, but it will not be as high as if I made minimum payments for 30 years.
If anyone has any advice or similar stories please let me know.
Thanks!
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August 3rd, 2009 at 06:37am Under Consolidation Loan
No, you do not have to have any credit to consolidate your loan. As long as you have a federal loan and you are not a continuous student then you can consolidate. There are many different companies that offer consolidation. They will offer give you the same base rate, they may just offer different “benefits” for consolidating with them. For example, some lenders will offer a 2% cash rebate (2% of your total loan balance) after you make your first payment, some will offer a 1% interest rate reduction after 36 on time payments, etc. Unless you have a very specific reason for consolidating (can’t make payments, no forbearance/deferment time available, cannot do graduated payments, extended repayment, etc.) then you probably shouldn’t consolidate right now. Interest rates are very higha nd once you conslidate and fix the interest rate you currently have you are stuck. It will never be able to be lowered again. If you have any other questions let me know!
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