Question by ready: Debt consolidation who is a good fitm to get a loan from.?
If i want to consolidate all my debt which is $ 8000 who would be the best banking firm. My credit is not that great (i have a bad debt to raio income but no deliquent accounts. What is the best firm to use. Im looking for the lowest interest rate. I will not go above 10%. I live in Atlanta, GA. I want people who have been in a similar situation to respond. What did you do. No advertisements or sales.

Best answer:

Answer by Michael S
For a bank loan under $ 10,000 you may have trouble finding a rate under 10%. You might want to try a finance company or a local credit union, as they can be a bit more generous on rates.

Know better? Leave your own answer in the comments!

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Question by : Tackling Private/Federal Student Loan debt consolidation with 100% income?
I have a plan this school year, to take out federal student loans, collect whatever grants and scholarships I can, and handle the remaining expenses with a private student loan from who I bank with (Wells Fargo). Then, consolidate those loans, and throw 90%-100% of my income at it automatically for the whole school year.

All things considered, dorm, declining meal balance plan, tuition, and books. I’m looking at total expenditures amounting to over $ 18,000 USD
I earn approx $ 15,000 USD per year at my current job. Living on campus would be cheaper for me than to continue staying in my own apartment.

I figured that if I have things like living expenses already covered by the loans (food, dorm), and I only get like $ 50 for myself out of my paycheck, and the remainder of the money gets funneled at the debt… that would put my credit in a good spot to repeat the process for the next school year.

In turn, if I do this all 4 years, and get my Bachelors in Biology, Id only end up owing about $ 16,000 after 4 years instead of nearly $ 100,000 like many students.

The only thing Id need a little cash for, is transportation (I use my bicycle, and public transportation… car insurance is too expensive), and money for laundry, and a little pocket change to go to the movies with some friends on occasion. Thats why I would want about $ 50 from my paycheck or so.

I think this plan can work, and I’d like any helpful input that everyone might have.

Long-term, I intend to go to medical school and study to be a doctor (GP and cardiologist). I’m not interested in money. I want to do this, because I seriously believe that our government will NOT take the necessary steps to save itself from the “economic globalization efforts” that threaten the U.S. Dollar as our global reserve currency. I sincerely believe that we will find ourselves under the banner of the “Bancor” one day.
If that happens, things are going to change in the U.S. I believe the welfare aspect of our country will be totally shot. No more “helpful handouts” for Medicare, Medicaid, etc.

So I want to be a doctor in order to VOLUNTEER to help the population when those hard times come. People understand that doctors should be paid, even if they are so poor that all they can afford is to bake you a cake and give you their love.

I’m attending Nova Southeastern University. Though I am considering going to a UNCF (United ***** College Fund(ed)) school (Bethune-Cookman?), after I finish my first year at NSU, to get access to more scholarships.

I plan to get married. My girlfriend is still living with her parents in Richmond, VA. So maybe not till I complete my Bio major.

Anyway, does anyone have any advice on my plan?
To answer Mr. Buresh:

Uh, thanks. I’m not actually in an “adverse” situation. I’m just looking for a few quick 2nd and 3rd opinions on my plan, and any extra ideas if someone has any.

Best answer:

Answer by just not that
it sounds like you have will thought out plan, but a few things you need to be aware of.

1. you can’t consolidate private and federal loans together. They will ALWAYS be separated, this is the LAW. So consolidation will never truly exist if you plan on taking out private loans. Honestly, it sounds like you should avoid private loans all together anyway. Private loans will require you to have a cosigner with awesome credit and a very high, stable income. Without that (all four years or more of your school) you won’t get approved for a private loan.

2. You mentioned opting out of the univ sponsored meal plan to save money. If you live on campus in a dorm you can’t do this. They won’t let you. Sorry, no way around it.

3. Your reasons to become a doctor are noble, albeit very naive and child like. Sure, be a doctor and save people lives, but be naked, starving and homeless while doing it? LOL Really? Be realistic, you don’t know how incredibly childish you sound when spouting off that stuff.

What do you think? Answer below!

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Question by : Need to Get out of 40,000 debt?
Ok… So here’s my story.. I went to college for medical assistant,ACCELERATED ( 2 year program) I graduated, but havent been able to get into the field after 2 years even after internships and everything.

I came out of that school with the inevitable debt of about 37,000 with my federal loans unsubsidized and subsidized.

I know.. you don’t have to tell me.. im screwed from there but another thing is I have 1 regular credit card ( lower interest )(about 320 total), 1 store credit card ( 29.99 interest) ( about 1200 total ), a gym membership ( about 180 for the rest of the year ), and im paying for my cellphone( 50/ month)

I live with my parents, I dont pay rent atm, and they don’t really help me with bills, cause im 22 , im grown.. but I just need to learn to balance all this out and find out the best way to pay all this off and SOON. I just lost my job over complications, I am unemployed, but just got a work interview with one place i applied for so that might change, still I would be making roughly about 1000 a month ( hopefully ) So.. Anybody have any idea how to handle this, what should i start paying on first, and how much more?
Im just wanting to get rid of this the best way i can…

Best answer:

Answer by Ryan M
Unfortunately, with $ 37k of your debt being student loan debt….bankruptcy is not really an option. Your only options are: 1) Borrow the money from family or 2) work 3 jobs if necessary. And get rid of your cellphone. A cellphone is a luxury you cannot afford.

Give your answer to this question below!

Debt Consolidation

To find the best debt consolidation loan company, you need to devote plenty of your time in research. With so many debt consolidation loan companies operating in the market right now, you need to take into consideration various factors in deciding which company is best suited for your financial condition.

Finding Debt Consolidation Loan Online – Beware of Fraudulent

Before you apply for debt consolidation loan online, beware of fraudulents. There are lots of online lenders operating in the market right now that cheats innocent people who have a limited knowledge of debt consolidation loan packages. Often, these lenders charge high rate of interest in their debt consolidation loan packages.

Free Debt Consolidation – Should I go for it?

You should go for free debt consolidation because it gives you an opportunity to merge all your loans into one loan.

Another good thing about free debt consolidation is that the rate of interest of new loan is going to be lot lower. With low rate of interest, you will be able to manage your finances in a much better way.

How Does Debt Consolidation Work?

Debt consolidation is the way to go if you are not able to pay the monthly installments of your loans on time. Debt consolidation gives you an opportunity to merge all your loans into one single loan for a much longer repayment term. Even better, there is going to be slight decrease in your interest rates as well. The loans that you may want to consolidate are RV loans, high interest car loans, personal loans and credit cards.

Top Debt Consolidation Loans in US

To get top debt consolidation loans in US, you need to have a proper understanding of the loan market. When you can evaluate the market condition correctly, you are going to get a best possible debt consolidation loan deal. Debt consolidation loan is the way to go if your main objective is to get rid of all your previous debts.

Understanding Non Profit Debt Consolidation Loan

There are lots of choices available for you with regard to repayment of debts. A credit counselor could advise a financial institution to interact with the creditors to give them an opportunity to pay the loan at lower rate of interest. Further, they will also motivate the borrower to ask for more time to repay the loan amount.

Unsecured Debt Consolidation Loans – An Alternative

Getting out of debt is not easy but if you follow a disciplined approach, you can easily attain this objective. With unsecured debt consolidation loans, you can get rid of all your previous debts without worrying about your credit rating. People with bad credit can also get an approval for unsecured debt consolidation loans. However, these people may need to pay much higher interest rates in comparison to those with good credit rating.

Top 10 Debt Consolidation Loans

Merging all current loans and debts into a single monthly installment is the most cost effective way of handling debts. It keeps the borrower from being pestered by creditors and can lead to a peaceful life by saving considerable amount of money. Debt consolidation loans can be a great help but they need to be handled responsibly. By doing so, the debt can be cleared faster and a debt-free life can be led.

Credit Card Debt Consolidation: Don’t Let the Ads Fool You

There are various companies that offer credit card debt consolidation. Credit card debt consolidation is not the same as a debt consolidation loan as it involves more debt settlement and counseling related to credit cards rather than lending any money. Credit card debt consolidation is predominantly negotiating with credit card companies to decrease the interest or the overall payments.

Debt Consolidation

Debt consolidation loan is where all outstanding debts and bills are combined into a single loan or mortgage account. Debt consolidation takes the place of multiple existing loans and bills with a single consolidated loan from a new single lender so there is a lower monthly installment which is allocated for a longer period of time. The overall interest rate is paid on the current payments.

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Los Angeles, Calif. (PRWEB) December 19, 2011

International Association of Professional Debt Arbitrators (IAPDA), long the source of the debt relief industrys leading certification training programs, now features two certifications for top debt professionals. The CDS Certified Debt Specialist designation ensures the consultant has complete knowledge and understanding of the debt settlement option and CCCS Certified Credit Counseling Specialist designation ensures complete knowledge and understanding of the credit counseling and debt management option. IAPDA continues to provide professionals with the education they need to offer consumers the best, customized solutions to their debt problems,

Laurence Larose, IAPDA Executive Director says, Consumers deserve to work with debt relief consultants who totally understand all the debt relief options available and who can effectively guide them back to a debt free life. Leading Debt Relief company owners and top consumer debt advisors agree. They heartily recognize and endorse the complete debt relief education and the certifications earned by IAPDA dual certified members.

Professional education and consultant certification is more important than ever in the debt relief industry. IAPDA programs provide a standardized foundation for debt consultants professional knowledge, as well as an objective measure by which clients can judge the debt relief expert they turn to for help. As more consumers choose debt relief, and more practitioners enter the field, certified debt professionals enjoy an inherent advantage in this competitive marketplace.

But dont take IAPDAs word for it.

Bills.com, a prominent consumer debt portal, advises consumers, An effective step for finding a reputable debt settlement / resolution company is to determine if the company is a member of the International Association of Professional Debt Arbitrators (IAPDA). The IAPDA requires that its members have their debt consultants and account executives pass a certification test that requires them to understand and communicate the pros and cons of debt settlement to their clients. Bills.com is home to the award winning and much heralded Debt Coach tool, which brings transparency and empowerment directly to consumers, so that they can make the best financial decisions for their personal situation. Bills.com also has thousands of articles and consumer guides to empower consumers to take control of their finances.

Leading Debt Relief firms, including the nation’s largest debt resolution companies, publically praise IAPDA Certifications and insist their debt consultants earn IAPDA certifications:

(Our company) and staff are proud members of the IAPDA (International Association of Professional Debt Arbitrators). All of our Debt Consultants are required to go through the IAPDA certification program, which promotes a platform for us to provide focused and educated services to our clients. We value the knowledge and support that the IAPDA provides to the debt settlement industry.

(Our) consultants are thoroughly trained in debt negotiation and up to date on debt settlement matters by being required to achieve certification through the IAPDA, the International Association of Professional Debt Arbitrators.

Each Debt Specialist employed by (our company) is required to attain membership and certification as a Debt Specialist with the International Association of Professional Debt Arbitrators.

About IADPA

The International Association of Professional Debt Arbitrators (IADPA) is the debt relief industrys leading certification training programs. Established in 2000, they have graduated over 3,000 members, and offer online-based training to both individuals seeking certification, and companies that want to certify their employees. Visit them online at http://www.iapda.org.

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