Rachel D asked:


I have good credit, never made a late payment and always make atleast my minimum payments, and then some. I recently consolidated some credit card debt and some of my fiance’s debt with a $30,000 private loan which we pay together. Then I have about $20,000 worth of debt in consolidated student loans, car loan and some store credit cards from home related items (tv, furniture, etc.)purchased with 0% or low financing. All of my debt and most of my fiance’s is in my name because his credit was too bad to get any loans, etc. So even though it’s all in my name, we have no problem making payments each month since there are 2 of us paying. But as we work on getting his credit in line for him to one day be a co-signer for a house, what can we do to get my credit up seeings how I have so much of my credit tied up for the both of us? I’ve already closed any zero balance credit cards I had open but what more can I do??? Thanks for any tips anyone may have
OK, so as far as a debt/income ratio… not sure if this is how you figure it out but if you take my monthly income and deduct my minimum monthly payments, I have about $1,000.00 left over. (Keeping in mind my fiance pays about 30% of my debt monthly as well, but I know banks don’t take that into consideration in this case) Once he has enough credit for us to co-apply, our combined yearly salary is over $80,000 a year and currently our debts together are about $70,000 total….if this info helps at all…. and thanks for all your helpful comments!

Consolidating Student Loans

Holly Z asked:


I was in the hospital a while back and bills started piling up. I lost my job, was kicked out of school, and then my car broke down. I had no way to pay my bills and now that I have a job, I can’t pay any minimum payments on anything including my student loan. I was just wondering if it was possible to get a consolidation loan to pay one low payment with my extremely horrible credit.

Consolidating Student Loans