Scott asked:


Hello. I am currently a substitute teacher in the state of NY. My income is about $20,000 a year however, I have over $100,000 worth of student loans. My loan payments are over $2000 a month which is more than my monthly income. I took out the loans with 3 different cosigners because at a point, my parents weren’t getting approved to cosign for me because they bought a house and their credit got shot. I’ve only been out of school for a year, but it just seems like it will never happen. What makes it worse is that the majority of these loans are from private loans, not Staford. (About $100,000 of it.) They are currently on hardship deferment but I can only do that for so long. I don’t have any credit really to get a consolidation loan, and I am not asking my best friends dad again to cosign for me on a consolidation loan for over $100,000. Banks aren’t even giving out loans now because of everything. I’m also forced to go back to school and finish my Masters degree within 4 years to retain my certification, which costs money. I don’t what I am going to do. I don’t necessarily want to give up my loans, but since they are private loans, would I qualify for chapter 11 bankruptcy since i am working as a civil servant? If anybody has any suggestions please let me know. Thanks!

Private Student Loan Consolidation

AIC fan asked:


I have 12k in credit card debt and 30k student loan. I hear that these places just make all your accounts go into default so they can settle for less. Seems like that would mess up your credit right?

Credit Card Debt Debt Consolidation

BOB asked:


15k in credit card debt, 17K in personal student loan debt, 15K in government student loan debt, 15k in car loan debt.

All im trying to do is consolidate my CC debt. The rest i will deal with with later.

Anyone know of a legit company? No marks from credit solutions please!

i know you guys are on the ripoff report and i have called the better business buereau about you and know you are bad business and fradulent.
STOP…READ…. NO MORE CREDIT SOLUTIONS MARKS!!! YOU GUYS ARE FRAUDS. CANT YOU READ WHAT I POSTED ABOVE AND YOU GUYS ARE STILL POSTING ANSWERS. GEEZ!!!

Credit Debt Consolidation

JUMBO shrimp asked:


Is there anyone that will consolidate sallie mae student loans? Also who is the best provider of consolidation for private student loans?

Consolidation Credit Debt

ZXZX asked:


If one pays off federal student loans with a credit card, and then is delinquent on the card and the creditor charges it off…..

May the card issuer get the IRS to pursue the debt on its behalf as this debt was originally a federal student loan?
OR
Does the fact that they were federal loans not matter since the loans were paid off through the card and the lender of the loans, its gaurantor and the IRS are now OUT of the picture, as it became a regular credit card debt, in which case one would ONLY have to deal with the card issuer (and its collectors) as any other credit card debt?
I know that crad rates are higher and that consolidation of loans is good. I have already done that.
I am NOT interested in all that.

I only want to know what may happen once the card that was used to pay off federal student loans is charged off?
Is it like any other card charge off or not.

Does someone have EXPERIENCE with this?

Student Loan Debt Consolidation