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

heh2203 asked:


We’ve owned a home for a year now and recieved a flyer from our bank about applying for a home equity loan. we want to apply so that we can possibly do a little debt consolidation (just a few thousand in student loans and credit cards) but how do you determine if/how much equity you have?

Pay Credit Card Debt

Vernon M asked:


I currently have a student loan, car loan, four department store credit cards, and three credit cards from various companies (Capital One, MBNA, and Bank of America Visa). I owe about $8,500 collectively on all my debt and my payments are well over $600/mo. I’m starting to think I can’t afford it anymore. Do you think I qualify for debt consolidation? I just don’t want to get in a position where I can’t pay my debt. I need help.

Debt Credit Consolidation

sammymac45 asked:


Here’s my situation: I have 3 maxed out credit cards totaling 35K (all debt to help a friend in need) and 60K of currently deferred grad school payments. I still have good/decent credit because my wonderful parents put me as an authorized user for all their cards since I was 10. I can’t thank them enough. Also, never had one delinquent, etc. The 0% on the cards have now expired and in pretty high rates.

I’m a full-time student and work full-time, but can’t show income because only been working two months and it’s a commission-based job. On track right now to make over 120K this year, but can’t work for the next month and need a credit line or free up one of the cards asap.

Can I move all CC debt into one account? What’s the deal with debt consolidation-will it affect my credit score? needed? How about yet another credit card? Any other companies that will see the maxed-out high limit cards and not freak? Any options being a student?
Creativity welcome
Thanks in advance, Sam

Credit Card Debt Reduction