amy asked:


my husband and i have a combined debt of 65k with student loans and credit card debt combined. we both have credit scores in the 690′s so obviously we do not want to do anything to get it any lower. would debt consolidation hurt us in the long run. if so what are some better options?
most of our cards are at low interest rates, but the minimums are HIGH.

Credit Card Debts

kburgess1984 asked:


okay so i had about 6 credit cards, all went to collection agencies. i finally got around to paying them, got current with them (out of collection), and finally got the whole amount paid. i have 2 remaining. plus a student loan. should i consolidate or is that not a good idea? these creditors tell me not to. i am 21 years old and am trying my best to get these paid off with my budget plus rent and other bills each month. what are the good and bad sides of debt consolidation? i consolidated my 2 loans i had and they became one. what im considering consolidating is my 2 credit cards i have remaining. also my credit report still shows im delinquent on my other credit cards i paid off. some have been more than 60 days, some less. anything i can or should do about that? is my credit being ruined or helping it at all by the ones i did manage to pay off?

Consolidate School Loans

spadezgurl22 asked:


I have mounting debt mainly due to student loans (whihc I would liek to pay seperate) but everythign else from credit cards and phone bills etc is very hihg close to 15,000. I want to consolidate so ic an make monthly payments to all of them and try to save my credit. any good place u can recomment that will no charge me a high interest rate or take too much profits away?

Business Debt Consolidation

wigurlie asked:


Here’s the thing. I wouldn’t even think about this except: the economy ***** and we’re working short hours at work.
I owe approximately $65,000.00 in federal student loans (some subsidized and some unsubsidized) including Perkins, Parent PLUS, Federal PLUS, and Stafford.
My payments total over $900/month and I’d honestly like to reduce that down for some more cushion to get through the tough times. I’m nervous that if I lose more hours at work that I’ll have a hard time paying my loans each month. I realize I need a consolidation with no overpayment and no prepay off penalties (I’d prefer to pay off this loan ASAP so I don’t drag it to 30 years).
Suggestions? Also, should I go through the Dept of Ed for consolidation or look at some private institutes?

Private School Loan Consolidation

Mr. Nice Guy asked:


I have about 32,000.00 (USD) is student loans. That is the total but it comes from the sum of about 8 different small loans. I’ve heard a lot about consolidation but does anyone know if that is the best option or the only option? I definitely can’t afford to pay them all simultaneously because I’m only making 32,000.00 right now. Can i finance a low monthly payment over a long time and then pay as much off the principal as I can afford each month? I’m worried if I do that the loan company will see that I have extra money and raise the monthly payment.

Consolidation Credit Debt