Bryan Burbank asked:




If you are drowning in debt then you need to find a solution to your problem. Consider getting a consolidation loan so that you can manage your debt easier. When you get this type of loan you take all the debt you have and combine it in one easy to deal with payment.

First talk to your bank and see if they offer a consolidation loan. he key to this type of loan is that you want to get a low rate of interest. In most cases it will be a lot lower than what you are currently paying on your credit cards. This will help you to pay your debt off much quicker.

Get interest rate quotes when looking for a debt loan. It is important that you find the lowest rate possible so that you can get the loan paid off quickly. Paying a high rate if interest is only going to hurt you in the long run and keep your credit card balances high.

Use the lenders and banks that you are currently working with to help you find a debt consolidation loan. They will be able to give you comparable rates and let you know how much money you will save doing this type of loan. It is also convenient to pay only one monthly payment each month.

Remember that getting a debt consolidation loan is a great way to control and manage your debt. When you apply you want to make sure that you are getting the lowest interest rate you can for your new loan. The lower the rate the more money you will be saving.

Joshua

MissingYou asked:


70K Student Loan Debt trades for a MBA degree. What do you think? Waste of time and money?

Frank

Andy asked:


I don’t have a well paying job yet, but anticipate having a good job in one year. Should I knock myself out to pay off the loans as soon as possible or make minimum payments every month? I’ve heard 2 different theories about this, one saying pay loans off as soon as possible, the other saying make minimum payments. Help?

Jon

Andre asked:


I have 30k in credit card debt. I was wondering if I could consolidate that into a mortgage. I have never applied for a home loan before. Have people done this in the past?

Ellen

lanore asked:


I am going to be going to school and taking out student loans. Can me and my husband still get a loan for the house.

Alan

Jenn asked:


My husband and I are trying to straighten out our finances because we have a lot of debt (credit cards mostly) and we want to buy a house. Everyone tells us that getting a a debt consolidation loan will help because we can combine all of our debts into one monthly payment, but we kept getting turned down or offered a low amount because we have too much credit being used. What’s the point of a debt consolidation loan if your too much in debt?

Eileen

Ubiquitous asked:


I’m paying off a lot of credit card debt and currently have my student loans in a deferral status. But the big monthly payments will start up again at the end of this year.

Aside from trying to “drop off the radar screen” or looking for a much better-paying job that would quickly burn me out, I’m curious if anybody has any leads on this matter.

Thanks!

PS: Don’t recommend declaring bankruptcy because student loan debt is exempt from that.

Calvin

Loon-A-TiK asked:


i have a lot of student loan debt and want to consolidate. however, i’m sure that because it is a private loan they’re going to run my credit. do you know what is the lowest score i can have to consolidate?
I don’t need debt management- my bad credit is the result of the ratio between my income and huge student loans. This totally messes with your credit. I’m working with a law firm to get this under control. I just need to consolidate my loans and while I can wait until my credit improves, I want to start saving money now.

Kyle