Gaffney asked:


Say you had $100,000 in debt from federal direct student loans. You account is current but it is current because you have been given a deferment that is set to expire in a year. During that time, you get married. When your student loan deferment expires, you are unable to pay & you default on your loans for some reason. Would they be able to come after your spouse for the amount you owe, even though you were not married when you signed the promissary note nor were you married when the account went into repayment or you requested the deferment that was granted?

Student Loan Debt Consolidation

auroras asked:


one subsidized, one unsubsidized. As it stands now, he has ten years to pay off, at a monthly payment of $422.00. He cannot afford that payment. Which option would he benefit more from: consolidating OR 25 year extended? Please advise anyone who has had experience with this. He needs to cut that payment in half. Thank you so very much.

Consolidating School Loans

pi_helix asked:


I thought about consolidating with a different lender…any recommendations? Sallie Mae is no longer offering consolidations. Thanks for your help!

Credit Card Debt Elimination

Mr Steele asked:


Federal student loans are either directly financed by the government or financed by private banks. Those private banks, however, get paid by the government if the student defaults on the loan.

So banks are basically making profits with very little risk.

Obama has said he wants to cut the middle man out and save the government/tax payer millions in dollars in the process. He also said the banking lobbyiest are preparing for war but that he is not going to back down.

Whose side are you on?

Unsecured Credit Card Debt Consolidation

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

Kat asked:


I know someone who has successfully hidden from their student loan for years. They got married (so their last name changed), haven’t worked, and moved quite a bit. This person actually has the money to pay and lives the high life because of her husband’s income. It really isn’t fair to anyone – how would I go about notifying someone. I believe these were all federal loans. She is thinking about getting a job so maybe it will just catch up to her once she starts working.

Consolidate School Loans

buttercup asked:


I’m looking at about $15,000 in federal student loans. I believe the current rate is around 7%, but I’m hoping to consolidate and get it down to 6%.

Should I pay it all off in a hurry and then get to investing, or are there certain type of investments that are worth getting into right away?

Thanks!

School Loans Consolidation

chrissy asked:


it seems like there aren’t any lenders that do federal student loan consolidation programs. Are there any out there? not private loans.so far it seems like the dept of ed has ended other programs. please help
thanks Ruth. Can you ask your relative if it was a federal loan?
New question, is it possible to debt consolidate federal student loans?? so there’s debt and then student loan consolidation.

Consolidate Credit Card Debt

Windy asked:


Also, Do debt consolidation companies include federal educational loans into the consolidation?

If you have a federal student loan, and the loan company offered a 1800 # for a consolidation company to take the loan and pay it?

Debt Consolidation Credit Cards