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Questions tagged [loan-consolidation]

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Chinese Brother-in-Law in Debt Trouble - What can Chinese Citizens do to Manage?

My brother in law built up a large amount of gambling debt two years ago. I guess in an attempt to save face, he hid a portion - 75,000¥ ($11,187) from his family thinking he could pay it off himself. ...
2
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2answers
155 views

Debt Consolidation

I currently have a loan that I am paying on that has a 31k balance, with an APR of 9.24. I also have a credit card with a 6300 balance, and the APR is ~17.9%. I have an offer for a consolidation ...
2
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1answer
281 views

Are the “personal loan” entities legit or a bit bogus?

In the US, it's great to get many spectacular PERSONAL LOAN OFFERS in the mail. Wow! Many companies such as sofi.com and figure.com pump these. I am wondering (1) Are these generally seen as "a ...
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2answers
411 views

Someone please help with my credit situation

I sincerely hope someone can help. My credit score is ridiculously low. It's 538. My payment history is 98%. I do have a couple collection items...but my credit has been way higher...around 660, with ...
3
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4answers
840 views

Refinancing Student Loans

I have 4 outstanding student loan accounts, all with the same lender, totaling approximately $40k. The interests rates vary from 3.15% to 6.55%. Each account has one or more loans in it. Loan 1: $5,...
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4answers
209 views

Fixed term or variable term for a student loan of 155,000 with the ability to switch between them

Friend is refinancing a student loan of 155,000 - check the details here or as below. Total amount now is about 155,000 now. While refinancing with Common Bond , we are getting the following payment ...
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5answers
4k views

Can I use my paid-for home as collateral for a consolidation loan to pay off outstanding bills?

I'm needing to find out if I can use my home and its feed as collateral for a 3000-5000 dollar loan to pay off my outstanding bills and just have one payment.
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5answers
3k views

In layman's terms, what is balance transfer?

I know very little about my credit cards, all I know is that I make sure to do the minimum payments on time. Some suggested that I do balance transfer? What is that suppose to mean? Can someone pay ...
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1answer
139 views

Who can I consult about paying off my student loan? [closed]

I'm looking to pay off my student loan as soon as possible. I've been making responsible payments into my loan for years now, and I've been making lump sum payments into my loan each time I come ...
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1answer
89 views

Consolidate or pay off

I have two large credit cards at 12.95%. I can get a loan for the balance at 13.95%. Am I better to consolidate the debt of both cards or just pay off the cards as is.
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2answers
492 views

How to take care of multiple student loans (consolidation, payment strategies)

I've freshly graduated college. Here's my current standing: I estimate ~ $1200/month in free cash after bills/entertainment/etc. My loans are as follows (all US based): 1: Perkins Amount: 3,240 ...
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1answer
965 views

Refused for Debt Consolidation Loan. Why would I be denied this loan?

I have numerous maxed-out credit cards and a half-used store account and I'd like to pay them all off with a consolidation loan, to reduce the interest I'm paying and clear them all up quickly. I'm ...
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1answer
146 views

Is it possible to re-consolidate student loans after marriage?

I consolidated my student loans down to two (for the Sub and Unsub halves) shortly after graduating college a few years ago. My wife never consolidated her loans. Is it possible to consolidate hers ...
2
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2answers
96 views

Re-financing/consolidating multiple student loans for medical school?

Currently my friend has 5-6 loans for medical school in the 6.8% to 7.9% interest rate. The loans are of type Stafford, Unstafford, Plus, and a few others. I looked at http://www.staffordloan.com/...
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1answer
2k views

Can my company buy my personal debt?

I owe $50,000 to my mother and father, who have helped me consolidate my debt over the years. Can my business buy my debt from my parents for the full amount I owe and then forgive me from having to ...
10
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2answers
3k views

How can I determine if a debt consolidation offer is real or a scam?

A friend of mine recently attempted to go though debt consolidation. He received a phone call and was offered really good terms to consolidate his current debts. A promise was made that the company ...
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5answers
795 views

Can a debt collector deny a consolidation?

I've asked this question below... Can a debt collector garnish my wage without a judgment? but thought it be better the break these up into seperate questions... PHEA, who is acting as a debt ...
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3answers
2k views

Can a debt collector garnish my wage without a judgment?

I am going through student loan hell. Trying to consolidate loans and running into walls (repeatedly). I am getting overwhelmed. Can a debt collector garnish my wage without a judgment? I am trying ...
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3answers
604 views

Best strategy for paying off my multiple student loans?

I have a massive amount of student loans (master's degree overseas, basically traded the extra money for about 2-3 years of my life due to differing lengths of education). Now that I have a job and ...
7
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3answers
1k views

Would consolidating my student loans improve my credit score?

I graduated college a few years ago and have roughly $12,000 in student loan debt left. Even though I make 1 monthly payment, the loan shows up on my credit score as 6 installment loans. When I go to ...
5
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3answers
463 views

What options are there for consolidating a large amount of private student loan debt?

I'm currently in a weird situation - I have a large amount of accrued debt (85k principal, ~15k accrued interest so far), spread amongst multiple smaller student loans. Some are federal stafford loans,...
3
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2answers
153 views

Expected rate for unsecured consolidation loan + where to apply?

I have about $50K+ in credit card debt and am paying anywhere from 0% to 20% on it, depending on the card. How much can an unsecured consolidation loan lower my rate, assuming I can get one at all? ...
7
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1answer
535 views

Should I try to consolidate my student loans? If so, how should I do it? What traps should I watch out for?

I recently graduated with my Bachelor's degree in Computer Science. I now have student loans to pay off. I've heard that something that should be done with your student loans is consolidation, but I ...