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Debt consolidation! @ Video

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Bankruptcy – Debt Management

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To a Fresh Start

WELCOME TO OUR FIRM

Bankruptcy: Your First Step to a Fresh Start

At the Bankruptcy Clinic, PC. we understand that sometimes bad things happen to good people. You may have recently been laid off, suffered an unforeseen medical problem, struggled through a messy divorce, lost a valued love one, invested in a bad business venture, or simply made some mistakes along the way. That s okay. We understand. We are here to help!

Reducing Your Debts, Protecting Your Property

At the Bankruptcy Clinic, PC. we represent people from all walks of life. Honest, hard-working people who have gotten into financial difficulty through no fault of their own. We help give our clients the opportunity to build a better future for themselves and their families.

Our firm has extensive experience in all aspects of consumer bankruptcy. We understand the bankruptcy laws and work to obtain maximum debt relief for our clients, while enabling them to protect their property to the maximum extent possible.

Working with our Illinois bankruptcy lawyer provides many benefits:

  • We are experienced — We file more bankruptcies than any law firm outside of the metro east region. This experience ranges from relatively simple Chapter 7 or Chapter 13 bankruptcy cases to complex Chapter 11 cases, enabling us to handle any financial dilemma efficiently and cost-effectively.
  • Free initial consultation — Our bankruptcy consultations are always free. Before you commit, we explain everything clearly. We go out of our way to ensure you are prepared for what will happen, when it will happen and what we can and cannot do for you.
  • More attorney time — We will spend several hours of personal attorney time in an effort to fully grasp your financial and personal situation. We will take special steps to answer your Chapter 7 bankruptcy questions or Chapter 13 bankruptcy questions. This extra effort ensures that you will be well informed and your petition and schedules will be properly prepared, saving you time and money.
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Free Consultation With a Skilled Debt Relief Attorney in Carbondale, Marion or Mt. Vernon, Illinois

For a free consultation with the Bankruptcy Clinic, PC, call 888-522-6578 toll free or contact our bankruptcy firm online. We have fully staffed offices in Carbondale, Marion and Mt. Vernon, Illinois, to better serve you. Evening and weekend appointments are available.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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Free Credit Counseling – Debt Settlement – Management Program, American Debt Enders, debt consolidation counseling.

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American Debt Enders

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Debt consolidation counseling

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NOTE: Fill out the form on the right to speak with a counselor.

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IN ADDITION WE CAN:

  • Set Up A Free Consultation with a Bankruptcy Attorney.

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NOTE: Stop being a victim and achieve debt freedom.

You will receive periodic updates from our Free Credit Counseling Blog in Newsletter format. The blog provides unbiased relevant information from the best credit counselors in the country, including a link to Financial Talkcast Radio, devoted to debt solutions.

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7982 Eagle Ranch Rd, Fort Collins, CO 80528

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7982 Eagle Ranch Rd, Fort Collins, CO 80528

Sun Number rates a home’s potential for solar using a scale of 1-100. The higher the number, the better suited a home is for solar and the more money you could save.

Sun Number Score Components:

Building Solar 55 / 60 Regional Climate 9 / 10 Electricity Rates 8 / 20 Solar Cost 10 / 10 Total 81 / 100

Zestimate Details

A Zestimate home valuation is Zillow’s estimated market value. It is not an appraisal. Use it as a starting point to determine a home’s value. Learn more

The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table

-$39,472 Last 30 days

Rent Zestimate A Rent Zestimate is Zillow’s estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table

-$159 Last 30 days

GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family.

Disclaimer: School attendance zone boundaries are supplied by Maponics and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

School Rating

Disclaimer: School attendance zone boundaries are provided by a third party and subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

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Bad Credit Loans – HIGHEST APPROVAL – Personal Loans Online, bad debt loans.#Bad #debt #loans


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At Bad Credit Loan Center ™ we believe in second chances. We know that good people do fall on hard times and in this economy it s not easy to find help.

Our goal is to make your process of finding online loans as stress free and easy as possible. Whether you re looking for a cash loan, an auto loan, debt consolidation or credit cards we can help.

It takes less than 3 minutes to complete an application and usually with in a couple hours a lender will contact you if you re approved. It doesn t matter if you re looking for bad credit loans or good credit loans we can help you find a lender. Bad Credit Loan Center ™ provides a payday loan matching service only and is not a lender.

For personal cash loans just click the Apply Now button directly above. You will instantly be taken to our partners 256bit COMODO ™ encrypted secure application.

If you re looking for an auto loan, debt consolidation, bad credit personal loans or credit cards please use the navigation bar at the top of this page. For more information about us or loans for bad credit please visit the about link in the footer of this page.

Bad credit loans should be used responsibly. You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.

Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.

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3 Simple Steps to Obtain Your Loan

Bad debt loansPre Qualify: To pre-qualify for payday loans online you must have income of $1000 dollars per month and be at least 18 years old. Your income can come from a job, benefits, disability or anything along those lines.

Bad debt loansComplete the Application: We utilize a short and easy fast loan advance application. It only takes a couple minutes to complete! It doesn t get any easier than this to get up to $1000 dollars today.

Bad debt loansGet Your Cash: Once a lender match is found and you re approved your payday loans will be deposited the same business day if time permits. It usually only takes a few hours from application to cash in hand!



Debt Consolidation, Best Online Advice for personal loans, unsecured debt consolidation loans.#Unsecured #debt #consolidation #loans


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your loan approved

Unsecured debt consolidation loansWhat is loan consolidation?

Loan Consolidation is a process by which you take all your existing credit agreements and roll them into one loan. In order to reduce the total monthly payment, consumers often stretch it out over the longest period possible, typically 5 years or 60months.

One should take not of the fact that one is usually therefore swopping certain existing credit facilities like Credit Cards and overdrafts for a higher interest rate loan. Consolidation loans are therefore usually granted after the maximum credit facilities have been taken up, with affordability being the most common factor for declines. It is also very important to remember that the Credit Facilities, like credit cards and overdrafts, aren’t automatically closed when one transfers the payment received from the consolidation loan. Fees and account charges can easily keep the account active.

It is imperative that the consumer closes any accounts they are not using to avoid unnecessary debits. Download our eBook which contains valuable information on credit score.

Our Free Workshops

Unsecured debt consolidation loansWe currently do talks around financial wellness to the staff of financial institutions like ABSA and Nedbank, but also do employee financial wellness workplace talks at many other companies like Shell, Freddy Hirsch, Woolworths and Multichoice.

The reason for this is usually pretty clear to HR Payroll departments who often have also felt the debt burden of employees in the sense that these employees sometimes borrow money from fellow workers creating friction in the workplace.

They might also try to take on extra jobs on weekends or after hours in an attempt to make ends meet, and therefore come to work tired. At some companies’ employees try to cash in their pensions to pay off unsecured debt, or borrow against it, thereby negating the good advantage the company had in the marketplace by offering the pension in the first place. When creditors are ignored, it sometimes even leads to garnishee orders that impacts on the payroll department. Many companies in Financial services cannot employ staff with impaired credit records as staff cannot then retain things like FAIS accreditation which is one of the main reasons ABSA and Nedbank invite us to speak so regularly.

Minimum and Maximum period for repayment

Personal loans typically have a repayment period of between 2 and 5 years. This calculation is based on a repayment period of 5 years (60 months). Credit Life Insurance has been added in this calculation. Monthly account fee of R60 (excluding VAT) and an Annual Interest Rate of 28% (or current Bank Repurchase Rate plus 21%). This calculation is a no obligation, free assessment and is intended to provide you with the information you need for comparison purposes only. For shorter timeframes, credit facilities (like Credit Cards and Revolving Loans) are more suitable products to use.



Student Loan Help, help with student loan debt.#Help #with #student #loan #debt


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Goodbye, student loan debt. Hello, future!

Help with student loan debt

Get student debt answers now.

A nonprofit NFCC Certified Student Loan Counselor will review all of your finances and help you develop a personal debt repayment plan, all for a nominal fee.*

What s in it for you

  • A thorough evaluation of your entire personal financial situation—not just your student loans.
  • An audit of your current loans and their terms.
  • Comprehensive, one-on-one guidance through all student debt repayment options.
  • A full financial game plan, including which debt repayment plans are right for you.

Here s what comes next

  • Set up a secure login.
  • Create your own confidential, financial profile online.
  • Be contacted by a nonprofit NFCC member agency.

Ready? Set up your profile here.

*Nonprofit, student loan counseling fees vary by NFCC member agency.

I made the call. 1

Help with student loan debt

None of this was my fault, but it was my problem. Years ago, I co-signed a student loan with my then-husband. After we divorced, it stayed in his name. I made payments until the bank notified me the debt was forgiven. It wasn’t.

Julie K Minnesota

I didn’t leave school by choice. Two major health issues made the decision for me. By then, I had about $14,500 in federal student loans. Given my circumstances, I defaulted.

1 Stories above represent actual NFCC client experiences.

Student loan counseling.

Comprehensive

review of your financial situation, including current income, living expenses, all debt and your long-term goals.

Customized

game plan that doesn’t undermine your personal short- and long-term goals by just directing you to a plan with the lowest current payment.

Complete

assessment that looks beyond income-based programs and consolidation to see if other avenues for retiring your debt might be available and make more sense for you.

Why choose us?

Gain access to over 60 years of experience helping borrowers like you get answers to all of their debt-related concerns, including student debt solutions.

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Answers

We are experts on the ins and outs of student borrowing and repayment and on how to minimize its impact on your overall financial health. We work with you every step along the way until your issues are resolved.

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Nonprofit

You always know where you stand and who to call with questions about your student loans and any other financial issues that arise over time.

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Local to you

NFCC member agencies have office locations in all 50 states and Puerto Rico, which are staffed by NFCC Certified Credit Counselors.

Be informed.

Knowledge is power. To help you make the best decisions possible for your future, we keep you updated with access to a wealth of useful tools and resources.

Get the latest insights on recent news regarding student loans and your personal finances.

From calculators to definitions, find what you need to make better financing and repayment decisions here.

Who is the NFCC?

Founded in 1951, the National Foundation for Credit Counseling (NFCC ) is the nation’s first and largest nonprofit dedicated to improving people’s financial well-being.

NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

Member agencies are able to offer their services for nominal fees based on their current funding status. Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

For more on the NFCC, visit www.NFCC.org

Thank you to our funders.

The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony Financial, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit www.SharpenToday.org.

National Foundation for Credit Counseling



Student loan debt: Why employers may want to help pay off college loans, help with student loan debt.#Help #with #student #loan #debt


Here s why employers may want to help out on the mountain of student loan debt

Help with student loan debt

Employers eager to recruit and retain skilled workers in a tight labor market have about 1.34 trillion reasons to expand their benefits package to include assistance in helping employees repay their student loans.

That’s the mountain of student loan debt being carried on the financial shoulders of 44 million Americans. And no surprise, the bulk of those would indeed love for the boss to kick in and help pay it back.

More than 80 percent of workers with student loans surveyed by IonTuition said they would like to work for a company that provides a student loan repayment benefit. IonTuition, a fintech company focused on services to help borrowers manage their repayments, mostly surveyed millennials.

Yet there is plenty of reason to suspect older workers would be eager for the perk, too. According to Federal Reserve data, borrowers at least 40 years old have a not-small $450 billion in student loans to pay off. A big part of that older cohort are parents who borrowed through the federal PLUS program or took out private student loans.

The benefit is still clearly in the early adopter stage with just 3 percent of firms surveyed by AonHewitt currently offering student loan repayment assistance. AonHewitt says an additional 5 percent of surveyed companies say they are likely to add the benefit and 24 percent are moderately interested in adding the benefit.

“Employers are incredibly curious and engaged around the issue given all the news about student loan debt,” said Balaji “Raj” Rajan , chief executive officer of IonTuition. He said IonTuition fields two or three inquiries a day from companies interested in adding student loan repayment assistance.

A few big old-line firms including Aetna, Fidelity, PwC and Penguin Random House have begun to contribute to employees’ loan payments. Earlier this summer, the city of Memphis, Tennessee, announced it will contribute $50 a month toward employees’ student loan repayment.

Adoption of the benefit is more common among smaller and mid-size companies with nimbler decision trees and the need to position benefits as a competitive edge in recruiting, according to Meera Oliva, chief marketing officer at Gradifi, a subsidiary of First Republic that provides a student loan benefit platform for employers, including PwC and Penguin Random House.

Gradifi has more than 140 employer clients offering repayment assistance and is adding a half dozen or more monthly. “The bulk of our business is companies coming to us, not the other way around,” Oliva said.

An employer contribution of $50 or $100 a month is common among the first movers. That can indeed be a big help, as IonTuition reports that about three-quarters of borrowers make monthly payments of $300 or less.

Employer contributions go toward principal repayment. Gradifi’s website includes a free tool for employees to see how an employer assist can aid employee financial wellness. For instance, someone aiming to pay off $35,000 in debt over 10 years might be able to shave off 2.5 years and save some serious coin in the process:

Help with student loan debt

Waiting on Washington

Chris Walters, chief executive officer of Gradfin, another student loan repayment and management tech platform, said the tax code is keeping plenty of interested employers on the sidelines.

“If an employer contributes $100 a month toward student loan repayment, it costs $107.65 a month because it is treated as compensation and requires paying the employer share of the payroll tax,” Walters said.

Moreover, the benefit is taxable to the employee as compensation.

“It’s going to take a change in the tax code to see large growth in the benefit,” he said.

More from College Game Plan

These states have the worst student debt

Bipartisan bills in the House and Senate would put student loan repayment assistance on par with employer tuition assistance, which currently allows employers to give employees up to $5,250 a year tax-free for tuition costs.

The cost of that tax break likely makes for some tough sledding in this current Congress. Walters says that’s missing the bigger picture.

“The federal government, meaning taxpayers, are already losing plenty in terms of defaulted student loans, and income-based plans that will be forgiven,” he said.

“Congress should be worried about those losses. If the private sector comes in and improves debt repayment the Federal government is going to get paid more.”

(Correction: This story has been updated to correct the spelling of Balaji “Raj” Rajan.)



Debt Consolidation – Consolidate Debt in South Africa, debt consolidation loans.#Debt #consolidation #loans


Approved Debt Consolidation Portal

Debt consolidation in South Africa

Debt consolidation in the most simple terms, involves rolling several outstanding balances into one account with a lower monthly payment. individuals who are eligible for a debt consolidation plan are usually able to negotiate a smaller interest rate percentage with creditors, making their consolidated balances much easier to pay off.

Debt counseling

Excessive debt is now a modern reality for many people from all walks of life. individuals with unmanageable outstanding balances have several options for help through debt counselling, including debt consolidation through restructured payment plans, renegotiated monthly interest rates and adjusted payment terms with each creditor.

Debt review

Due to higher costs of living, a sizeable number of people have run into financial hardships through no fault of their own. sudden interest rate increases can make monthly payments unaffordable with little forewarning. debt review is a process of restructured payment terms to help individuals repay debts after meeting their monthly expenses.

Debt management

The majority of south africans need to take on loans to afford homes and vehicles, which can sometimes lead to unforeseen financial difficulties due to interest rate hikes. with the assistance of a financial advisor, some specific debt management practices can help to safeguard against these future difficulties.

Debt solutions

Too much consumer debt is an unfortunate reality for individuals from all professions and backgrounds. missed payments bring on additional problems such as late fees, accrued interest and possible legal action from creditors. several specific debt solutions are available for south africans seeking to improve their financial situations.

Sequestration

For people encountering significant financial hardships, sequestration presents the best possible option when other debt relief measures do not suffice. the process entails an individual being declared insolvent of outstanding debts through high court rulings and later steps of rehabilitation to start restoring creditworthiness.

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Federated Financial, Debt Relief & Payday Loan Consolidation, debt consolidation loan.#Debt #consolidation #loan


Lower your Payments Starting Now!

Medical, & Credit Card Debt

Federated Financial is not only a consumer education organization dedicated to teaching the skills necessary for a secure financial future it is also the best place to get you out of debt once and for all! Our Debt Consolidation Company is in it’s 20th year of providing excellent service.

GET STARTED NOW!

FREE No obligation quote fill out the form below or Call Us Now!

We take your privacy seriously

Debt consolidation loan

Debt consolidation loan

Our program may be able to help YOU:

Lower your monthly payments
Significantly reduce your interest rates today!
Eliminate late fees and over limit fees
Stop collection calls
Avoid bankruptcy and legal escalation
Consolidate your Student Loans and Payday Loans

If you feel overwhelmed with debt, We may be able to Help!

Our Credit Card Consolidation, Medical Debt Consolidation, Payday Loan Consolidation & Advance Loan Consolidation programs are designed to eliminate your debt. Our full budget analysis allows us to properly facilitate your gradual debt reduction. Please give us a call to learn more or fill out the form above!

Payday Loan Consolidation

The thought of quick cash has lured many desperate people into taking out a payday loan. Then the vicious cycle begins: even if you manage to pay off the loan, new bills pile atop old bills and another loan has to be taken out for the next pay cycle. Add origination fees and rollover fees, and suddenly you are in a world of hurt. The way you deal with your money on a daily basis can impact your life for many years to come. We can show you that sound financial practices do not always require “doing without, or giving up.” All unsecured loans (loans without collateral), still tend to be higher interest than many alternatives with collateral.

Debt Consolidation Company

Payday Loan Consolidation Programs can help you with your finances. Interest rates charged by your lenders, consolidate into one low monthly payment, and eliminate or lower all interest fees. This will also help to stop those harassing telephone calls and letters you receive in the mail as a professional debt consolidation team can take care of everything. There is really nothing to lose, enter your details today and find out what we can offer you with our Payday Loan Consolidation Services. If your credit allows, consider applying for a credit card and transferring your balances or obtaining a cash advance.

Loan Debt Consolidation

Debt Consolidation And Your Attitude Towards Money, The way you deal with your money on a daily basis can impact your life for years to come. We can show you that sound financial practices do not always require “doing without.” With financial education and planning, you employ learned skills to do so much more with what you have. When you are able to manage money efficiently, you can budget for emergencies, vacations, a new baby, holidays, college, a home, a car, or retirement.

Debt Consolidation Company

A strong Debt Consolidation Program can help you with your finances. We Understand the financial stress of illness and unemployment. In other words, you maybe able to sleep a little bit better at night, knowing that you have the power to control your financial future with one of the many Debt Consolidation Programs we have for you.

Payday Loan Debt Consolidation

You can use our trusted Payday Loan, Credit Card, & Medical Debt Consolidation Programs to become free from debt.

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: www4.law.cornell.edu/uscode/17/107.html. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner. Not Available in All States

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Federated Financial, Debt Relief & Payday Loan Consolidation, debt consolidation loan.#Debt #consolidation #loan


Lower your Payments Starting Now!

Medical, & Credit Card Debt

Federated Financial is not only a consumer education organization dedicated to teaching the skills necessary for a secure financial future it is also the best place to get you out of debt once and for all! Our Debt Consolidation Company is in it’s 20th year of providing excellent service.

GET STARTED NOW!

FREE No obligation quote fill out the form below or Call Us Now!

We take your privacy seriously

Debt consolidation loan

Debt consolidation loan

Our program may be able to help YOU:

Lower your monthly payments
Significantly reduce your interest rates today!
Eliminate late fees and over limit fees
Stop collection calls
Avoid bankruptcy and legal escalation
Consolidate your Student Loans and Payday Loans

If you feel overwhelmed with debt, We may be able to Help!

Our Credit Card Consolidation, Medical Debt Consolidation, Payday Loan Consolidation & Advance Loan Consolidation programs are designed to eliminate your debt. Our full budget analysis allows us to properly facilitate your gradual debt reduction. Please give us a call to learn more or fill out the form above!

Payday Loan Consolidation

The thought of quick cash has lured many desperate people into taking out a payday loan. Then the vicious cycle begins: even if you manage to pay off the loan, new bills pile atop old bills and another loan has to be taken out for the next pay cycle. Add origination fees and rollover fees, and suddenly you are in a world of hurt. The way you deal with your money on a daily basis can impact your life for many years to come. We can show you that sound financial practices do not always require “doing without, or giving up.” All unsecured loans (loans without collateral), still tend to be higher interest than many alternatives with collateral.

Debt Consolidation Company

Payday Loan Consolidation Programs can help you with your finances. Interest rates charged by your lenders, consolidate into one low monthly payment, and eliminate or lower all interest fees. This will also help to stop those harassing telephone calls and letters you receive in the mail as a professional debt consolidation team can take care of everything. There is really nothing to lose, enter your details today and find out what we can offer you with our Payday Loan Consolidation Services. If your credit allows, consider applying for a credit card and transferring your balances or obtaining a cash advance.

Loan Debt Consolidation

Debt Consolidation And Your Attitude Towards Money, The way you deal with your money on a daily basis can impact your life for years to come. We can show you that sound financial practices do not always require “doing without.” With financial education and planning, you employ learned skills to do so much more with what you have. When you are able to manage money efficiently, you can budget for emergencies, vacations, a new baby, holidays, college, a home, a car, or retirement.

Debt Consolidation Company

A strong Debt Consolidation Program can help you with your finances. We Understand the financial stress of illness and unemployment. In other words, you maybe able to sleep a little bit better at night, knowing that you have the power to control your financial future with one of the many Debt Consolidation Programs we have for you.

Payday Loan Debt Consolidation

You can use our trusted Payday Loan, Credit Card, & Medical Debt Consolidation Programs to become free from debt.

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Debt Consolidation Refinance, Quicken Loans, consolidating debt.#Consolidating #debt


Consolidate Your Debt

Consolidating debt

With Rocket Mortgage by Quicken Loans, our fast, powerful and completely online way to get a mortgage, you can quickly see if you can take out cash to pay off high-interest debt.

Not comfortable starting online? Answer a few questions, and we ll have a Home Loan Expert call you.

The Basics

Consolidate Debt by Refinancing Your Mortgage

  • Refinance with some of the lowest rates in decades, and get cash to pay off your high-interest debt. Don’t wait these low rates won’t last forever!
  • Make one low monthly payment instead of several, and pay less overall every month. Unlike credit card interest, the interest on your mortgage is usually tax deductible.*
  • Even if you have less-than-perfect credit, we can help. Paying off your higher-interest debts faster can improve your credit rating. Find out if you could lower your monthly payment or take cash out to access money for your other bills. Visit QLCredit to see your free credit report and score and track all your debts in one place.
  • Interested in consolidating two mortgages? We can help you refinance both loans into one with a low rate that could significantly reduce your monthly mortgage payment.

We’ve helped more than 2 million Americans lower their monthly payment by refinancing. Contact us today to see how we can help.

Why You Should Choose Quicken Loans

  • You’ll get a completely online application process with less paperwork, and you can track the status of your mortgage application.
  • Our Home Loan Experts are available to answer your questions and help you understand the details so you get the right mortgage for you.
  • After you close your loan, you can manage your mortgage online without any hidden fees.
  • We service 99% of our mortgages, which means you can expect our great customer service to continue after you close.

Popular Loan Options for Consolidating Debt

  • FHA loan Refinance your debt into one low-cost loan today.
  • 15-year fixed-rate loan Consolidate your debt and pay it off sooner with our 15-year fixed-rate mortgage.
  • 30-year fixed-rate loan Have peace of mind always knowing your payment amount with a 30-year fixed.
  • VA loan Veterans and active military members can consolidate debt with a low fixed rate.

*Please consult your tax advisor.

Frequently Asked Questions

How can refinancing help me consolidate my high-interest debt?

The average credit card interest rate is around 15%. By comparison, mortgage rates are currently in the 3–4% range.

If the current value of your home is greater than your current mortgage balance, it means you have equity in your home. You may be able to use this equity to refinance your current mortgage and receive cash at a low interest rate to pay off your credit card debt.

What is equity? How can it help me consolidate my debt?

Home equity is the appraised value of your home minus the amount you still owe on your loan.

The more equity you have, the more money you may be able to get from a cash-out refinance. Many homeowners take cash out to pay off high-interest debt or make home improvements. Use our refinance calculator to see if you have enough equity to reach your financial goal.

How much does it cost to refinance?

It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing. However, refinancing to get cash out or consolidate your debt may result in a longer loan term or a higher rate, and that might mean paying more in interest overall in the long run.

Talk to a Home Loan Expert or use our refinance calculator to see if refinancing your home can help you consolidate your debt.

How often can I refinance my home?

Some states have limits on how soon or how often their residents can refinance a home loan; these limits are often designed to ensure that the refinance process benefits the homeowner. Regulations aside, it’s very important to make sure that refinancing helps you meet your financial goals. Deciding if it makes sense to refinance your home depends on a number of factors: Does your current lender have a prepayment penalty? Do you have enough equity built up in your home? Are interest rates lower now than they were when you first got your home loan? Do you plan to stay in your home for many years? Use our refinance calculator to see if refinancing your home can help you meet your goal.



How Does Debt Consolidation Affect Your Credit Report, credit card debt consolidation.#Credit #card #debt #consolidation


How Does Debt Consolidation Affect Your Credit Report?

Your debt consolidation credit report should look better than the credit report you had before you combined your bills. Ultimately, the goal is to improve your credit and not harm it. That is why it is important to understand how debt consolidation will affect your credit.

Your Debt Consolidation Credit Report: Positive Effects

One positive effect that debt consolidation can have on your credit score is the fact that several accounts will appear to be paid off. Even though debt consolidation creates a new credit account, lenders consider the other accounts as paid in full.

Timely repayment of new credit will also have a positive effect on your credit in the long term. Unfortunately, this raise in your credit score will take time, as you need a history payments on the account. If you continue to use your credit cards, it is important to keep up to date with all of your payments in order for your credit score to improve.

It is better to borrow against your equity line, than it is to apply for new credit cards repeatedly in order to take advantage lower interest rates. Using personal loans for debt consolidation is usually the best option, and as long as you pay your bills on time, your credit score should eventually rise.

Your Debt Consolidation Credit Report: Negative Effects

Depending on the actions that you take after debt consolidation, you can end up hurting your score. Missing a payment can bring your credit score down. It is important to keep up with your debt consolidation loan payments, and any other credit payments that you are required to make, otherwise your score will drop.

Closing credit card accounts after you have consolidated the debt can negatively impact your score. Never close your oldest accounts because they will give you the longest credit history. You may also want to wait until the debt is paid off before closing accounts. This is because your overall available credit will decrease, yet your debt level will remain. That makes it look like you have maxed out, and are therefore a high risk.

If you use a debt settlement program to consolidate your bills and the method includes negotiating a reduction of the debt that you owe, your credit report will be negatively impacted. Finding a way not to pay creditors the full amount that you owe does not look good.

Using balance transfers for debt consolidation may have a negative impact on your credit report as well. This is especially true if you apply for a new credit card in order to use an introductory interest rate. If you do not pay off the full balance by the end of the trial period, your interest rates will return to normal. Applying for new credit every six months is also frowned upon.

If you handle debt consolidation properly, the long term effect on your credit should be positive. Go about the wrong way, and you can do more harm than good to your credit report.

The content on this site is provided for informational purposes only and is not legal or professional advice. Advertised rates on this site are provided by the third party advertiser and not by us. We do not guarantee that the loan terms or rates listed on this site are the best terms or lowest rates available in the market. All lending decisions are determined by the lender and we do not guarantee approval, rates or terms for any lender or loan program. Not all applicants will be approved and individual loan terms may vary. Users are encouraged to use their best judgment in evaluating any third party services or advertisers on this site before submitting any information to any third party.



Discover Debt Consolidation, debt loans.#Debt #loans


debt loans

Why are an increasing amount of people looking to consolidate their debt via debt consolidation loans? Well, rising inflation rates coupled with extremely poor spending and saving habits have given rise to a serious

Guide to Debt Consolidation Loans in South Africa

The following piece will serve as a basic guide to consumers as to how debt consolidation loans in South Africa work. Most consumers in South Africa look at debt consolidation quite suspiciously. Many simply

Debt Consolidation Tips

Thousands of debt-ridden consumers around the country are turning to debt consolidation in a bid to dig themselves out of their dire financial situations. Debt tends to creep up on us as consumers –

Consolidate Debt in South Africa

South Africa has become well known for its culture of spending as opposed to saving – so the term “consolidate debt” comes up a lot. This spending mentality has caused thousands of South Africans

Debt consolidation – the answer you’ve been looking for

Wondering about the usefulness of debt consolidation? Is your rising debt threatening to spiral out of control? Are you suffering from sleepless nights and stressful days? Are you battling to keep tabs on the

Debt consolidation – can it work for you?

Debt consolidation is one of the best ways to make seemingly insurmountable debt a lot more manageable. Instead of having to pay several smaller monthly repayments on a number of different bills, you take

Gaining peace of mind with home loan debt consolidation

A home loan is a popular way for ordinary people to gain the means needed to buy a house. Also, home loans can be taken out to pay for renovations and repairs around the

A few Important Aspects Worth Noting

Debt consolidation gives debt-ridden consumers a last chance to clear their names. While there are definite benefits to consolidation, it is important for consumers to take a few precautions before jumping at the opportunity.

How can debt consolidation ease your financial woes?

Many consumers have found themselves in a position where they are simply not able to afford their credit or loan repayments. This can be attributed to several different factors including reckless spending, the general

Vital considerations before you consolidate debt

Consolidating your debt can afford you vital breathing space when it comes to your financial security. It is, however, neither wise nor advisable to rush into consolidation without taking proper consideration of your actual

Debt loans Debt loans



Debt Management Basics, Ch, bad debt loans.#Bad #debt #loans


Good debt vs. bad debt

Ch. 1: Understanding your debt

Ch. 2: Using equity to consolidate debt

Ch. 3: Reorganizing finances

Ch. 4: When to seek debt help

Ch. 5: The bankruptcy option

Debt is a concept as intricately intertwined with America these days as baseball, Mom and apple pie.

The amount of personal debt in this country is ever-increasing, and a large part of the reason is that credit has never been easier to get. Whereas credit card issuers previously looked for customers who could repay, today card issuers relish the chance to reel in those who’ll continuously charge beyond their means at 18 percent or 20 percent.

But debt is a complex concept. Not all of it is good — a fact a surprising number of Americans fail to realize until they’re in the hole — and yet not all of it is bad. When used intelligently, debt can be of tremendous assistance in building wealth.

One of the secrets, therefore, to being smart with your money is to differentiate between good debt and bad debt. While the differences often seem logical, it is a logic that apparently is missed by many Americans.

  • Mortgage.
  • School loan.
  • Real estate loan.
  • Business loan.
  • Credit card.
  • Store credit card.
  • Auto loan.

“When you buy something that goes down in value immediately, that’s bad debt,” says David Bach, CEO of Finish Rich Inc., and author of “The Finish Rich Workbook.” “If it has no potential to increase in value, that’s bad debt.”

Good debt

“Good debt is investment debt that creates value; for example, student loans, real estate loans, home mortgages and business loans,” says Eric Gelb, CEO of Gateway Financial Advisors and author of “Getting Started in Asset Allocation.”

Robert D. Manning, a professor of finance at the Rochester Institute of Technology, also recommends taking on debts that are tax-deductible and debts that produce more wealth in the long run.

“If you are talking about reducing current debt, that’s where it starts to get nuanced,” says Manning. “If you take a home equity loan because you have 17 percent credit card, and you go with a 6 percent loan that’s tax-deductible, that’s good debt.”

These general rules of thumb set some clear delineations — buying a home or refinancing to get rid of excessively high rates is usually good debt, as is generating debt to buy high-return stocks, bonds and other investments.

Bad debt

The concept of bad debt comes in when discussing the purchase of disposable items or durable goods using high-interest credit cards and not paying the balance in full.

“The trouble is most people are not organized enough to retire the entire balance before the due date,” says Gelb.

Every month that you make a partial payment on your credit account you are charged interest. The disposable or durable item you purchased continues to lose value, and the amount you paid for it continues to increase.

“When you buy clothes, they’re probably worth less than 50 percent what you pay for them when you walk out the door,” says Bach. “So if you borrowed to pay for them, that’s bad debt.”

Table of contents

Ch. 1: Understanding your debt

Ch. 2: Using equity to consolidate debt

Ch. 3: Reorganizing finances

Ch. 4: When to seek debt help

Ch. 5: The bankruptcy option

Credit rating effect

Not to mention what that debt could potentially do to your credit rating. “Total personal debt should not exceed 36 percent of your total income,” says Gelb.

Keeping the debt-to-income ratio in mind, it’s also important not to miss payments. “Missed payments are trouble,” he says. “A representative of Citibank said if you don’t pay within 30 days, they report that to the credit bureaus.”

When it comes to buying durable goods that won’t contribute to wealth generation, Bach offers a basic rule of thumb. “My grandma used to say that if you’re going to buy something that doesn’t go up in value, and you can’t afford to pay cash, then you can’t afford it.”

Exacerbating the bad debt factor is that people will apply for store credit for the savings offers that say if you open a credit card account today, you can take 10 percent to 20 percent off the cost of your purchase. What people often don’t realize is how much of that savings will be destroyed by the high interest rate on the card if they fail to pay for the items immediately.

“You can open a store credit card account,” says Bach, “and what they’re not telling you is that after the first few months, the rate jumps to 20 percent or greater.”

Driving into debt

Another bad debt area is auto debt. While most people need an automobile, and the ultimate cost of an auto is higher than many people can pay in one lump sum, the way people go about it — namely, purchasing more car than they need — turns it into bad debt.

When is it worth it?

“What we would normally consider bad debt can turn into good debt in certain circumstances,” says Catie Fitzgerald, a personal finance coach and registered investment adviser in Henderson, Nev. “If you use debt to buy a car that gets better gas mileage than your old vehicle, you could end up better off financially.”

Bach considers auto debt a Catch-22. “People borrow to buy cars before homes,” says Bach, “and that’s unfortunate. For most people, their first major loan is a car loan. That’s guaranteed to go down in value. So you really want to borrow less. For example, instead of rushing out to borrow to buy a $50,000 BMW, you’d be better off buying a $25,000 car.”

The best debt

The best type of debt is debt that builds wealth over the long run, and the No. 1 example of that is mortgage debt.

Table of contents

Ch. 1: Understanding your debt

Ch. 2: Using equity to consolidate debt

Ch. 3: Reorganizing finances

Ch. 4: When to seek debt help

Ch. 5: The bankruptcy option

“Home values have increased an average of 6.5 percent a year over the past 30 years,” says Bach. “So when you borrow to buy a home, chances are that’s good debt. You’ll build value.”

Bach heavily promotes the idea of homeownership, saying that everyone needs to own where they live. “About 40 percent of Americans are renters,” says Bach, “and the fastest way to wealth in America is buying where you live.”

Bach cites some shocking numbers to back this up. “The average renter has a median net worth of $4,000, and the average homeowner has a median net worth of about $150,000.”

Manning also emphasizes what a good time this is to build wealth through debt. “This is the most advantageous time ever to be in debt,” says Manning, “in terms of opportunities to get low-interest loans or to renegotiate or refinance.”

Duh, debt?

One of the reasons so many Americans seem mired in bad debt (Bach reports that the average American carries approximately $8,400 in credit card debt) is that financial education is practically nonexistent. “This type of commonsense stuff isn’t taught in school,” says Bach, “and most Americans don’t realize how bad high-rate credit cards are hurting them.”

Fitzgerald advises teaching your children the difference between good debt (debt that’s used to buy assets that grow in value over time) and bad debt (debt that’s used to buy things that will lose value) early on.

Gelb opts for a more hands-on approach. “Give your children an allowance (without strings) beginning when they’re in kindergarten and offer them the opportunity to perform extra jobs around the house for money. Stop buying them everything, and teach them how to make choices with their own money-buying decisions.” The mistakes they make will help them learn and grow.

“People are getting in debt before they have a job,” says Manning. “Education is important. We used to encourage kids to save, and that has been missed. Students now refer to their credit cards as ‘yuppie food stamps’. They see cards as entitlement, and see they will be in debt all their lives.”

Fitzgerald recommends teaching by example. Treat credit cards like emergency safety nets and your children will likely learn some money management skills. “If you have to use your credit card, immediately revise your budget, paring back on nonessential spending. Allocate the saved dollars to a pay-off plan to bring your debt balance down to zero as soon as possible,” she says.



Debt consolidation loan, Barclays, debt consolidation loan calculator.#Debt #consolidation #loan #calculator


Debt consolidation loans

All your debts in one manageable loan

If you’ve borrowed from different lenders, a debt consolidation loan could help you take control of your finances and keep track of your money.

Loans are subject to status. Early settlement fees apply.

✔ Manage your debts with just one loan 1

✔ Quick and easy application

✔ Personal price quote – with no credit footprint 2

0 APR Representative

over 2-5 years. (Your rate may differ 3 )

Take control of your debt with a Barclayloan

Having just one loan could be more straightforward and easier to manage than a number of payments to different lenders.

But it’s worth noting that consolidating debts might involve payment of a higher rate of interest or charges – or both. Consolidating debts might also increase the overall period required for repayment.

Debt consolidation overview

Discover your loan rate without affecting your credit score

Knowing how much you can borrow really helps when consolidating your debt. And, unlike some other lenders, in many cases we can give you a personalised price quote up front – without impacting your credit score. To find your loan rate, simply log in to Online Banking or Barclays Mobile Banking, if you’re registered 2 .

You could get your money straightaway

It’s quick and easy to apply and, if your loan application is approved and you’ve signed your loan agreement online, the debt consolidation money is usually transferred to your current account within a few minutes 4 .

If you take out a Barclayloan and another lender offers you a like-for-like unsecured loan with a lower APR, you can claim under our guarantee – within 30 days of the date we signed your Barclayloan agreement.

We’ll reduce the interest rate to produce an APR equal to the competing offer and recalculate your monthly repayments to reflect the reduced interest rate. Please read our full price guarantee terms and conditions.

Fixed monthly repayment

This could help you budget.

Choose your payment term

Depending on the loan amount.

Already have a Barclayloan and need more funds? You can apply to increase your borrowing with us.

If you just want to take out a second loan instead of topping up, that could be an option too.

Repaying your loan early

You have the right to repay your loan early, in part or full, at any time. We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.

Eligibility

To apply online, you’ll need to:

✔ A Barclays current or savings account, mortgage or Barclaycard

✔ To be aged 18 or above

You can use your loan for almost anything, apart from:

  • Business reasons
  • Investments, including buying stocks and shares
  • Timeshares
  • Purchasing property (home improvements are fine)
  • Gambling-related expenses
  • Repaying CCJs (county court judgments)
  • A purchase made by combining this loan with any others

Resume an application

If you’ve already started a loan application and have saved your progress, it’s easy to pick up where you left off.

If you applied via Online Banking

Log in to Online Banking here, and we’ll take you straight to your saved application.

If you used our online application form

If you started your application via our online form, we’ll have sent you an email with your reference number. You can enter the number here.

Our lending commitments and what we ask of you

As a lender, we have a responsibility to act fairly and as part of this we have committed to follow the Standards of Lending Practice. This note sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

  • We will lend responsibly and aim to provide a product that is affordable for you.
  • We will provide you with information about our products and services and how they work, in a clear and understandable way, so that you can decide what’s best for you and your needs.
  • We will endeavour to make sure our products and services offer, wherever possible, the flexibility to meet your needs.
  • We will treat you fairly and reasonably at all times and make sure that you are provided with a high level of service.
  • If you tell us about any inaccuracies, for example around the personal information we hold about you, we will act quickly to put it right.
  • We will always aim to help you if we see, or you tell us, that you are having trouble financially. We will seek to understand your overall circumstances, try and identify options that you can afford and where appropriate, provide a reference to free debt advice.

What we ask of you

  • We ask you to think carefully about whether you can afford to repay the money you want to borrow and to be open in your dealings with us.
  • Take care of any cards, PINs, online log-in details and other security information to help prevent fraud and help us to protect your accounts.
  • Tell us as soon as possible if your card has been lost or stolen, or if you know or suspect someone is misusing your confidential information e.g. your PIN or online log-in details.
  • Carefully check your account statements to make sure they are accurate. If anything isn’t right, please get in touch with us.

Please let us know if

  • Your contact details change, so we can keep our records up to date.
  • Your circumstances change, particularly if what’s happened is likely to cause you difficulties in managing your account or financial problems.
  • You think that you won’t be able to keep up with your repayments. The sooner you do this, the more likely it is we’ll be able to find a way to help you.

We would also encourage you to refer to the terms and conditions associated with your current account, credit card or personal loan.



Student Loan Help, help with student loan debt.#Help #with #student #loan #debt


help with student loan debt

Goodbye, student loan debt. Hello, future!

Help with student loan debt

Get student debt answers now.

A nonprofit NFCC Certified Student Loan Counselor will review all of your finances and help you develop a personal debt repayment plan, all for a nominal fee.*

What s in it for you

  • A thorough evaluation of your entire personal financial situation—not just your student loans.
  • An audit of your current loans and their terms.
  • Comprehensive, one-on-one guidance through all student debt repayment options.
  • A full financial game plan, including which debt repayment plans are right for you.

Here s what comes next

  • Set up a secure login.
  • Create your own confidential, financial profile online.
  • Be contacted by a nonprofit NFCC member agency.

Ready? Set up your profile here.

*Nonprofit, student loan counseling fees vary by NFCC member agency.

I made the call. 1

Help with student loan debt

None of this was my fault, but it was my problem. Years ago, I co-signed a student loan with my then-husband. After we divorced, it stayed in his name. I made payments until the bank notified me the debt was forgiven. It wasn’t.

Julie K Minnesota

I didn’t leave school by choice. Two major health issues made the decision for me. By then, I had about $14,500 in federal student loans. Given my circumstances, I defaulted.

1 Stories above represent actual NFCC client experiences.

Student loan counseling.

Comprehensive

review of your financial situation, including current income, living expenses, all debt and your long-term goals.

Customized

game plan that doesn’t undermine your personal short- and long-term goals by just directing you to a plan with the lowest current payment.

Complete

assessment that looks beyond income-based programs and consolidation to see if other avenues for retiring your debt might be available and make more sense for you.

Why choose us?

Gain access to over 60 years of experience helping borrowers like you get answers to all of their debt-related concerns, including student debt solutions.

Help with student loan debt

Answers

We are experts on the ins and outs of student borrowing and repayment and on how to minimize its impact on your overall financial health. We work with you every step along the way until your issues are resolved.

Help with student loan debt

Nonprofit

You always know where you stand and who to call with questions about your student loans and any other financial issues that arise over time.

Help with student loan debt

Local to you

NFCC member agencies have office locations in all 50 states and Puerto Rico, which are staffed by NFCC Certified Credit Counselors.

Be informed.

Knowledge is power. To help you make the best decisions possible for your future, we keep you updated with access to a wealth of useful tools and resources.

Get the latest insights on recent news regarding student loans and your personal finances.

From calculators to definitions, find what you need to make better financing and repayment decisions here.

Who is the NFCC?

Founded in 1951, the National Foundation for Credit Counseling (NFCC ) is the nation’s first and largest nonprofit dedicated to improving people’s financial well-being.

NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

Member agencies are able to offer their services for nominal fees based on their current funding status. Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

For more on the NFCC, visit www.NFCC.org

Thank you to our funders.

The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony Financial, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit www.SharpenToday.org.

National Foundation for Credit Counseling



Help with student loan debt, help with student loan debt.#Help #with #student #loan #debt


A Look at the Shocking Student Loan Debt Statistics for 2017

Help with student loan debt

Updated: September 13, 2017

It s 2017 and Americans are more burdened by student loan debt than ever.

You ve probably heard the statistics: Americans owe over $1.45 trillion in student loan debt, spread out among about 44 million borrowers. That s about $620 billion more than the total U.S. credit card debt. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.

But how does this break down at a more granular level? Are student loans being used to attend public or private universities? Is it mostly from four-year or graduate degrees? What percentage of overall graduates carry debt? Are more grads utilizing private student loan consolidation and refinancing?

Let s take a look.

BONUS: Get a PDF of these statistics to print out, save, or send

General student loan debt facts

First, let’s start with a general picture of the student loan debt landscape. The most recent reports indicate there is:

  • $1.45 trillion in total U.S. student loan debt
  • 44.2 million Americans with student loan debt
  • Student loan delinquency rate of 11.2% (90+ days delinquent or in default)
  • Average monthly student loan payment (for borrower aged 20 to 30 years): $351
  • Median monthly student loan payment (for borrower aged 20 to 30 yea rs ): $203

Public Service Loan Forgiveness statistics

As of Q1, 2017 (latest available data)

PSLF Borrowers: 611,598*

* Total number of borrowers who have one or more approved PSLF Employment Certification Forms (ECF)

Note that borrowers are self-identified based on submission of an ECF.

Federal student loan portfolio

(updated for Q2, 2017)

Now let’s dive into how much debt student loan borrowers carry by loan type, term, and more.

Student loan debt statistics by loan program:

Student loan debt statistics by loan type:

Student debt statistics by loan status (Direct Loan Program)

Student loan statistics by repayment plan (Direct Loan Program)

Student loan debt by servicer

(updated for June 30, 2016)

Data Source: National Student Loan Data System

More shocking student loan debt statistics

If those numbers weren’t stunning enough, here’s a closer look at how students accumulate debt based on the type of school they attend.

In 2012, 71 percent of students graduating from four-year colleges had student loan debt:

  • Represents 1.3 million students graduating with debt, increase from 1.1 million in 2008
  • 66 percent of graduates from public colleges had loans (average debt of $25,550)
  • 75 percent of graduates from private nonprofit colleges had loans (average debt of $32,300)
  • 88 percent of graduates from for-profit colleges had loans (average debt of $39,950)

Twenty percent of 2012 graduate loans were private

Graduates who received Pell Grants were likely to borrow, and borrow more:

  • 88 percent of graduates who received Pell Grants had student loans in 2012, with an average balance of $31,200
  • 53 percent of those who didn’t receive a Pell Grant had student loan debt and borrowed $4,750 less ($26,450)

Private student loan debt statistics

  • Private student loan debt is on the rise; $6.2 billion was borrowed in 2012-2013, up from $5.5 billion in 2011-2012
  • From 2011-2012, borrowers didn’t take advantage of federal student loans as much as they could have: 19 percent didn’t take out Stafford loans, 8 percent didn’t apply for federal financial aid, 11 percent applied for federal aid but didn’t take out a Stafford loan, 28 percent had Stafford loans but borrowed less than they were eligible for
  • In 2011-2012, 48 percent of private loan borrowers attended schools that had tuition costs of $10,000 or less
  • Nearly 1.4 million undergraduates borrowed private loans in 2011-2012

Graduate student loan debt

About 40 percent of the $1 trillion student loan debt was used to finance graduate and professional degrees.

Combined undergraduate and graduate debt by degree:

  • MBA = $42,000 (11% of graduate degrees)
  • Master of Education = $50,879 (16%)
  • Master of Science = $50,400 (18%)
  • Master of Arts = $58,539 (8%)
  • Law = $140,616 (4%)
  • Medicine and health sciences = $161,772 (5%)

Clearly, as these student loan debt statistics show, the cost of attending college is becoming a growing burden for a huge portion of Americans.

What are you doing to pay off your debt and ensure you aren’t another statistic? Be sure to let us know how we can help.



5 Tips for Paying Off Student Debt You – re Better Off Ignoring, Student Loan Hero, help with student loan debt.#Help #with #student #loan #debt


5 Student Loan Tips You’re Better Off Ignoring

Help with student loan debt

Rebecca Safier

Help with student loan debt

There’s no one-size-fits-all approach when it comes to paying off student loan debt. You need to know what works for your personal situation. W hat helps one person could actually harm someone else.

Here are five common pieces of advice that don’t always pan out so well for borrowers. Read on to learn what’s wrong with these student loan tips and what you should do instead.

1. Switching to an income-driven repayment plan saves you money

If you have federal student loans, switching to an income-driven repayment plan can help lower your monthly payments. There are four income-driven repayment plans and each caps your monthly payment at 10 to 20 percent of your discretionary income. If you’re struggling to make your current payments, one of these plans could ease the burden.

But switching to an income-driven repayment plan also has downsides. To lower your monthly payments, these plans extend your repayment term to 20 or 25 years. Adding a decade or more to your standard repayment plan means you’ll pay a lot more in interest over the life of your loan.

After you make payments for 20 or 25 years, the remaining balance of your student loans is forgiven. It s not free money though — the forgiven amount will be treated as taxable income. So even if your debt is forgiven, you could be hit with a hefty tax bill.

So before jumping onto an income-driven repayment plan, assess your financial needs. Perhaps you can increase your income or lower your cost of living to better afford your student loans. Maybe you can qualify for a student loan repayment assistance program.

If you can find a way to stay on the standard 10-year repayment plan, you could save a lot of money in the long run.

2. Refinancing your student loans is always beneficial

You may have heard about all the benefits of refinancing student loans. Depending on your creditworthiness and income, you could refinance for lower monthly payments and a better interest rate. Plus, you’ll simplify your monthly payments so you only have to deal with one loan servicer instead of multiple ones.

But before refinancing, make sure you understand the possible drawbacks. When you refinance with a private lender, you give up federal student loan programs. You’ll no longer have access to income-driven repayment plans or federal loan forgiveness programs, like Public Service Loan Forgiveness (PSLF).

If you’re worried about losing your income or working toward federal loan forgiveness, refinancing could be a mistake. Refinancing has major benefits for some borrowers, but it’s not right for everyone.

3. Consolidation and refinancing are the same

It’s easy to confuse student loan consolidation with student loan refinancing. Both combine multiple loans into one new loan, but the similarities largely end there.

Consolidation refers to taking out a Direct Consolidation Loan from the federal government. You can only consolidate federal student loans such as Stafford, Perkins, and Direct PLUS loans. The Perkins Loan program closed to new borrowers when it expired on Sept. 30.

Your new interest rate will be the average weighted interest rate of your old loans, rounded up to the nearest one-eighth of a percent. That means that consolidating does not lower your interest rate. It can help you by extending your repayment plan and it also helps rehabilitate student loans that have gone into default.

Refinancing, on the other hand, means combining all your private and federal student debt into one new loan with a private lender. It can help lower your interest rate and save you money in the long run. But, as mentioned above, refinancing means you lose access to certain federal loan programs.

People commonly confuse consolidation and refinancing, but the two processes are different. If you’re interested in simplifying your monthly payments, make sure you understand which approach is better for your individual situation.

4. You shouldn t start paying back your loans right away

When you take out federal student loans, you have six months after you graduate before you have to start paying off student debt. This grace period gives you time to look for a job before your student loan bills come rolling in.

Unfortunately, unsubsidized student loans collect interest during this grace period. In fact, unsubsidized loans collect interest from the day they are disbursed.

So if you wait until the grace period is over, you might spend a long time paying off interest before you even make a dent in the principal. If possible, try to start paying your loans even before the grace period ends.

If you don’t have the means to start, at least review your loan terms and get a repayment plan in place. That way, you’ll be prepared when you have to start paying off student debt.

5. It helps to put your student loans into deferment or forbearance

Deferment and forbearance allow you to pause payments on your student loans. Often, borrowers defer their loans for up to three years when they go to grad school. Similarly, those faced with a short-term emergency, such as the loss of a job, can use forbearance for up to 12 months.

But there are risks with both of these options. If you have unsubsidized loans, your debt will continue to accrue interest. After months or even years, your student loan debt could get out of control. Once the deferment or forbearance period ends, you could be left with a huge bill that’s impossible to handle.

Be cautious about exercising either of these options and calculate exactly how much your student debt will grow if left in deferment or forbearance. Come up with a plan in advance so you’re not left scrambling in the future.

Educate yourself before accepting student loan advice

Before acting on student loan tips, make sure you understand all the benefits and drawbacks. A financial move that works for one person might not be right for you.

The best student loan tips take into account your unique circumstances. Make sure you see the whole picture before taking action on your student loans.



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Debt consolidation loans

Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

What is a debt consolidation loan?

If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

You borrow enough money to pay off all your current debts and owe money to just one lender.

There are two types of debt consolidation loan:

  • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
  • Unsecured – where the loan is not secured against your home or other assets.

Secured debt consolidation loans

Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

When should you consider a debt consolidation loan?

Consolidating debts only makes sense if:

  • Any savings are not wiped out by fees and charges.
  • You can afford to keep up payments until the loan is repaid.
  • You use it as an opportunity to cut your spending and get back on track.
  • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

For example, what if interest rates go up, or you fall ill or lose your job?

If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

You should get free debt advice before taking out a debt consolidation loan.

Warning!

Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

When getting a debt consolidation loan doesn’t make sense

A debt consolidation loan definitely doesn’t make sense if:

  • You can’t afford the new loan payments
  • You don’t clear all your debts with the loan
  • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
  • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

Debt consolidation loans that don’t put your home at risk

A better option might be a 0% or low-interest balance transfer card.

This is the cheapest way if you repay within the interest-free or low-interest period.

You’re likely to need a good credit rating though to get one of these cards.

You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

Fees and charges for debt consolidation loans

Beware of the high fees some companies charge for arranging the loan.

  • Read the small print carefully for any extra fees or charges before you sign anything
  • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
  • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)


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Debt Consolidation Loans

Debt consolidation loans

Consolidation loans are used to deal with overwhelming debts. It is essentially taking out a loan to pay off any number of smaller debts which can ease the pressure by reducing your monthly payments. Debt consolidation loans are used to help simplify your finances. The interest rate on these types of loan can actually work out lower than continuing to deal with mounting multiple debts. With many lenders offering consolidation loans, finding the right deal for you can be difficult. You can find a loan by using our comparison service to search for the best rates from a range of providers. This will ensure you find the right loan to clear your debts with. Make sure that you read the terms and conditions of any consolidation loans which you are interested in.

If you wish to speak to someone: Contact Us

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What is a consolidation loan?

If you feel that your debts are spiralling out of control and you do not know how to sort everything out then a debt consolidation loan could be really helpful. If you have multiple debts which you are having trouble keeping up with then a debt consolidation loan could be a good option. A debt consolidation loan is basically a single loan which you will borrow in order to pay your multiple debts.

How a debt consolidation loan can help

A consolidation loan means that you can consolidate your debt which means that you essentially group your debts together. This can make life a lot easier as you will only have a single debt to pay off each month. You should stop receiving threatening letters from your previous creditors and your single payment should be made as easy as possible.

You can off your debt over a longer period of time

It should be possible to pay this consolidation loan over a longer period of time so the monthly payments which you have to make will be smaller. However, it is important to remember that ultimately you are likely to pay more interest on your debts with a consolidation loan in comparison to what you would have had to pay when you had multiple debts. The idea is that in the long run a consolidation loan makes your life easier rather than more difficult.

Consolidation loans can be more expensive than your original debt

It is important to bear in mind that a consolidation loan is highly likely to be more expensive than your original debts but if you were finding them too hard to organise then in the long run a consolidation loan could save you money by helping you to avoid extra fees and charges on your original loans.

Consolidation loans are not for everyone

If you are happy paying your current debts and are not having any problems organising your payments then a consolidation loan is probably unnecessary for you. However, if this is not the case and your debts out of control then a consolidation loan could be an option to give you peace of mind.

Why should I consolidate my debts with a consolidation loan?

As already discussed, there are plenty of good reasons why you should consolidate your debt and you don’t necessarily have to be in financial difficulty in order to benefit. Consolidation loans can help you cut your monthly outgoings, leaving you more money for savings to help with a rainy day, education or to pay off your existing debts. If you feel like you are trapped in a cycle of borrowing then a debt consolidation loan is definitely worth considering helping you become debt free. Just ensure you have enough discipline to budget correctly and not borrow more after this. If you are in any doubt then you should seek independent financial advice.



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Credit card debts

Personal credit cards provide a convenient and widely accepted way to pay for general and household expenses. Some of their features, however, may lead you into debt, particularly when your income is reduced and you are adjusting to changed financial circumstances.

Many people may think of getting a second credit card when they are struggling to make payments on the first. This is a serious debt trap. If you use one card to make payments on another or to keep making purchases beyond your means, your debt will spiral out of control.

You should contact your bank or financial institution to ask for assistance with managing your credit card debt. Available options include requesting a lower credit limit or cancelling the card. Ultimately, though, you need to take control of your spending and avoid using your credit card to buy goods and services that you simply cannot afford.

Please note the information on this page applies only to credit cards for personal expenses, not business or investment.

When you can’t pay off your credit card each month

Credit cards allow you to spend money you don’t necessarily have, and in this way are very dangerous for people with limited income.

Credit card interest is usually the second highest rate of interest for any type of loan after payday, or short term, loans. The only way to avoid the high interest is to stop using your credit card for cash advances and to pay the whole balance within the interest-free period.

If you have a credit card and only pay the minimum monthly payment you’ll end up in debt. By paying just the minimum payment, $1000 on your credit card can become an 11 year loan, even with no extra purchases.

When you can’t pay your minimum monthly payment

A credit card calculator can help you check how long it will take you to pay off credit card debt under a number of scenarios.

By law, your credit card statement will have a warning and show you how much you ll pay if you only make minimum repayments.

If you don’t pay the minimum monthly repayment, you’ll have to pay extra interest and usually a late payment fee as well. This will be so even if you don’t use the card for new purchases. A late payment fee may also be added for payments after the due date.

Flexible payment arrangements for credit cards

As with all credit for personal or household purposes covered under consumer credit law and the Code of Banking Practice, your bank or financial institution is required to consider requests for flexible payment arrangements if you are experiencing financial hardship.

If you can’t afford the minimum monthly payment, or you simply want to tackle your overall credit card debt, you need to contact the hardship area of your lender, explain that you’re experiencing financial hardship, and ask if they will vary the terms of your credit card contract. If you cancel your card, you can try to negotiate for no interest to be charged on the debt, or at least an interest rate much lower than your usual credit card rate.

Because of the complex nature of credit card debt and the high levels of interest and charges, you should seek help when managing your credit card debt before it becomes an ongoing problem.

Understand your rights and options

Find out more about:

  • your rights for negotiating changed payment arrangements for credit card debt, including how to proceed if your lender refuses your proposal.
  • the range of options available for dealing with your credit card debt.
  • debt collection procedures for when you don’t pay your credit card debt.

If your credit card provider is threatening or has commenced court proceedings against you, you should seek legal advice urgently. Consumer Action Law Centre provides specialist legal advice on credit and debt matters. You should also immediately lodge a complaint with the relevant EDR scheme about any concerns you have including your financial hardship. Your credit card provider is then required to halt the court proceedings to see if the matter can be resolved by the EDR scheme.

Keep a record of all details of your contact with your lender, including the date and time of any calls, and the name of the person you spoke to.

How to avoid credit card debt

In a time of financial hardship you need to act quickly to bring your credit card spending under control and avoid extra interest and charges. You can do this if you:

  • make your purchases using cash or a debit card if possible. Avoid using your credit card unless you can pay off the balance in full in the interest-free period.
  • if you can, pay the whole balance on the card within the interest-free period to avoid high interest charges. Purchases with your card will end up costing a lot more if you don’t keep up with your payments.
  • don’t exceed the limit unless you expect to be able to pay it off in the short-term. When your income is reduced, there is a risk you’ll exceed your credit card limit if you continue using your card. Don’t get a second credit card believing that will solve your problems. Unless you can definitely pay the card off in the short-term, another card will make your debt problem worse rather than fixing it.
  • avoid using your credit card for cash advances, as interest charges usually apply immediately.
  • consider cancelling any direct debits you have to get more control over what you pay and when. Make sure though that you are not breaching contractual obligations. Seek legal advice from Consumer Action Law Centre if in doubt.

The cost of credit card debt

If you only pay the minimum monthly payment off your credit card balance, you may be reducing your debt by much less than you think.

The following examples are based on a scenario where:

  • you have a typical credit card; and
  • you don’t use the card for new purchases; and
  • minimum payment is set at the lesser of 2.5% or $10; and
  • interest will be charged from the date of purchase (unless you pay it off each month); and
  • interest will be charged at approximately 16% per year.

How $1,000 turns into an 11 year loan

Suppose you spend $1,000, and make minimum repayments. You now have a debt on which you must pay interest. Of your first 2.5% minimum payment:

  • about $13 pays interest; and
  • just $12 comes off the debt.

By just paying the minimum balance, you will take more than 11 years to pay off that $1,000 debt. In that time, you will pay about $860 in interest.

How $10,000 turns into a 27-year loan

Imagine now that you spend $10,000, and make only minimum repayments. As the debt gets bigger, minimum payments do an even worse job of getting rid of your debt. Of your first 2.5% minimum payment:

  • about $133 dollars pays interest; and
  • just $115 comes off the debt.

Minimum repayments now take more than 27 years to pay off your debt, costing you about $11,000 in interest.

Case study

Stephen was an IT professional who was retrenched at the age of 55 after working with the same company for 25 years. His wife, Marcia, had left her job in administration at a hospital four years earlier following an illness that still affected her. Stephen and Marcia’s three children all still lived at home. The eldest was at university, the middle one was working in retail at a music store, and the youngest was in Year 11 at secondary school.

Stephen and Marcia had a large mortgage. Stephen intended to get another job following a six week family break, but when they got back home, finding a new job was more challenging than Stephen anticipated. He also felt that he was being overlooked for the few positions available in favour of younger, more confident candidates.

Stephen and Marcia started to use their credit cards for most of their purchases. Their previous “good credit rating” from the past provided them with access to new lines of credit with very few questions asked. Their credit card debts and associated interest began to build up to a massive level.

They knew what was happening but put off doing anything about it, hoping Stephen would find a new job, and could pay out the growing debts.

He contacted a financial counsellor who prepared a current financial statement that revealed that Stephen and Marcia had purchased some shares.

The financial counsellor encouraged Marcia and Stephen to sell the shares and pay the proceeds off the credit card debt. He also helped them to work out a plan to reduce their credit card debt by paying the card with the highest interest rate first, and cancelling all but one credit card that was only to be used in the case of emergencies.

After several months, Stephen managed to get a job, albeit a low paid one compared with what he had been used to. The income was enough for Stephen and Marcia to cover day-to-day expenses and work out payment plans with their creditors.



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Bad Credit Loan Center ™

At Bad Credit Loan Center ™ we believe in second chances. We know that good people do fall on hard times and in this economy it s not easy to find help.

Our goal is to make your process of finding online loans as stress free and easy as possible. Whether you re looking for a cash loan, an auto loan, debt consolidation or credit cards we can help.

It takes less than 3 minutes to complete an application and usually with in a couple hours a lender will contact you if you re approved. It doesn t matter if you re looking for bad credit loans or good credit loans we can help you find a lender. Bad Credit Loan Center ™ provides a payday loan matching service only and is not a lender.

For personal cash loans just click the Apply Now button directly above. You will instantly be taken to our partners 256bit COMODO ™ encrypted secure application.

If you re looking for an auto loan, debt consolidation, bad credit personal loans or credit cards please use the navigation bar at the top of this page. For more information about us or loans for bad credit please visit the about link in the footer of this page.

Bad credit loans should be used responsibly. You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.

Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.

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Bad debt loansPre Qualify: To pre-qualify for payday loans online you must have income of $1000 dollars per month and be at least 18 years old. Your income can come from a job, benefits, disability or anything along those lines.

Bad debt loansComplete the Application: We utilize a short and easy fast loan advance application. It only takes a couple minutes to complete! It doesn t get any easier than this to get up to $1000 dollars today.

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Debt consolidation loans

All your debts in one manageable loan

If you’ve borrowed from different lenders, a debt consolidation loan could help you take control of your finances and keep track of your money.

Loans are subject to status. Early settlement fees apply.

✔ Manage your debts with just one loan 1

✔ Quick and easy application

✔ Personal price quote – with no credit footprint 2

0 APR Representative

over 2-5 years. (Your rate may differ 3 )

Take control of your debt with a Barclayloan

Having just one loan could be more straightforward and easier to manage than a number of payments to different lenders.

But it’s worth noting that consolidating debts might involve payment of a higher rate of interest or charges – or both. Consolidating debts might also increase the overall period required for repayment.

Debt consolidation overview

Discover your loan rate without affecting your credit score

Knowing how much you can borrow really helps when consolidating your debt. And, unlike some other lenders, in many cases we can give you a personalised price quote up front – without impacting your credit score. To find your loan rate, simply log in to Online Banking or Barclays Mobile Banking, if you’re registered 2 .

You could get your money straightaway

It’s quick and easy to apply and, if your loan application is approved and you’ve signed your loan agreement online, the debt consolidation money is usually transferred to your current account within a few minutes 4 .

If you take out a Barclayloan and another lender offers you a like-for-like unsecured loan with a lower APR, you can claim under our guarantee – within 30 days of the date we signed your Barclayloan agreement.

We’ll reduce the interest rate to produce an APR equal to the competing offer and recalculate your monthly repayments to reflect the reduced interest rate. Please read our full price guarantee terms and conditions.

Fixed monthly repayment

This could help you budget.

Choose your payment term

Depending on the loan amount.

Already have a Barclayloan and need more funds? You can apply to increase your borrowing with us.

If you just want to take out a second loan instead of topping up, that could be an option too.

Repaying your loan early

You have the right to repay your loan early, in part or full, at any time. We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.

Eligibility

To apply online, you’ll need to:

✔ A Barclays current or savings account, mortgage or Barclaycard

✔ To be aged 18 or above

You can use your loan for almost anything, apart from:

  • Business reasons
  • Investments, including buying stocks and shares
  • Timeshares
  • Purchasing property (home improvements are fine)
  • Gambling-related expenses
  • Repaying CCJs (county court judgments)
  • A purchase made by combining this loan with any others

Resume an application

If you’ve already started a loan application and have saved your progress, it’s easy to pick up where you left off.

If you applied via Online Banking

Log in to Online Banking here, and we’ll take you straight to your saved application.

If you used our online application form

If you started your application via our online form, we’ll have sent you an email with your reference number. You can enter the number here.

Our lending commitments and what we ask of you

As a lender, we have a responsibility to act fairly and as part of this we have committed to follow the Standards of Lending Practice. This note sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

  • We will lend responsibly and aim to provide a product that is affordable for you.
  • We will provide you with information about our products and services and how they work, in a clear and understandable way, so that you can decide what’s best for you and your needs.
  • We will endeavour to make sure our products and services offer, wherever possible, the flexibility to meet your needs.
  • We will treat you fairly and reasonably at all times and make sure that you are provided with a high level of service.
  • If you tell us about any inaccuracies, for example around the personal information we hold about you, we will act quickly to put it right.
  • We will always aim to help you if we see, or you tell us, that you are having trouble financially. We will seek to understand your overall circumstances, try and identify options that you can afford and where appropriate, provide a reference to free debt advice.

What we ask of you

  • We ask you to think carefully about whether you can afford to repay the money you want to borrow and to be open in your dealings with us.
  • Take care of any cards, PINs, online log-in details and other security information to help prevent fraud and help us to protect your accounts.
  • Tell us as soon as possible if your card has been lost or stolen, or if you know or suspect someone is misusing your confidential information e.g. your PIN or online log-in details.
  • Carefully check your account statements to make sure they are accurate. If anything isn’t right, please get in touch with us.

Please let us know if

  • Your contact details change, so we can keep our records up to date.
  • Your circumstances change, particularly if what’s happened is likely to cause you difficulties in managing your account or financial problems.
  • You think that you won’t be able to keep up with your repayments. The sooner you do this, the more likely it is we’ll be able to find a way to help you.

We would also encourage you to refer to the terms and conditions associated with your current account, credit card or personal loan.



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CONSOLIDATE DEBT PROGRAM

Nobody needs constant calls from creditors and sleepless nights. So you’ll be glad to know one call to one of our licensed professionals you’ll see how you can become debt free, and worry free.

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HOW WE HELP Our Services

With 20 years of proven Debt Management Programs and great service options we’ll help you pay down your debt and restore your credit and show you how we “manage your debt so you can manage your life”

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GET OUT OF DEBT STARTS HERE

We’ve helped thousands of Canadians get out of debt in less time and for less money. We know what it takes to build a program that works. Start here to find out if you qualify. Call 1-800-774-5779 or chat online.

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GET OUT OF DEBT How it works*

Depending on your particular situation, Debt Management can be a great option for debt relief as it doesn’t require a loan and you can drastically lower your monthly payments, lower interest rates, and pay it off quicker than if you tried on your own.

Debt Management is a consumer relief program whereby we arrange with your creditors to substantially reduce your interest rates and monthly payments on unsecured debt (such as credit cards), allowing you to avoid bankruptcy and the adverse effects it can bring to your credit rating. Debt Management can reduce your total debt owed including interest by as much as 60%, while lowering your monthly payments during the process.

Is Debt Management right for you?

Debt Management is suitable for unsecured debts, such as credit cards bills. It does not apply to secured debt (like a mortgage) because if you default on the loan, creditors will be able to get their money back from the sale of your assets. Debt Management is right for indviduals or familites who:

  • CANNOT MEET THEIR MONTHLY MINIMUM PAYMENTS FOR UNSECURED DEBT OF $10K OR MORE
  • PREFER TO AVOID BANKRUPTCY AND THE STIGMA THAT COMES WITH IT
  • HAVE AVAILABLE CASH OR STEADY MONTHLY INCOME TO AFFORD A REPAYMENT SCHEDULE
  • WOULD LIKE TO RELIEVE STRESS, STOP COLLECTION AGENCY CALLS AND REDUCE DEBT
  • WOULD LIKE TO REBUILD THEIR CREDIT AND TAKE CONTROL OF THEIR FINANCES

Find Out If You Qualify. Call 1-800-774-5779

DebtManagers acts as a mediator between you and your creditors, negotiating a new repayment schedule on your behalf, reducing interest rates and monthly payments by up to 60%. For nearly 20 years we have assisted thousands of Canadians Coast-to-Coast in eliminating consumer debt and rebuilding credit.

As you can imagine, each debtor’s situtation is unique, so the only way to determine if you qualify for this debt management program is to schedule a debt assessment with one of our experienced debt advisors. To find out if you qualify call 1-800-774-5779 or fill out the form above for a free, no-obligation and confidential debt assessment.

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Our relationship with creditors means we can silence collection agency calls.

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    We’ll consolidate your debt into one monthly payment based on what you can afford.

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    We’ll work with you to find ways to save money and balance your budget.

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  • Debt Consolidation, Best Online Advice for personal loans, unsecured debt consolidation loans.#Unsecured #debt #consolidation #loans


    Free Ebook

    your loan approved

    Unsecured debt consolidation loansWhat is loan consolidation?

    Loan Consolidation is a process by which you take all your existing credit agreements and roll them into one loan. In order to reduce the total monthly payment, consumers often stretch it out over the longest period possible, typically 5 years or 60months.

    One should take not of the fact that one is usually therefore swopping certain existing credit facilities like Credit Cards and overdrafts for a higher interest rate loan. Consolidation loans are therefore usually granted after the maximum credit facilities have been taken up, with affordability being the most common factor for declines. It is also very important to remember that the Credit Facilities, like credit cards and overdrafts, aren’t automatically closed when one transfers the payment received from the consolidation loan. Fees and account charges can easily keep the account active.

    It is imperative that the consumer closes any accounts they are not using to avoid unnecessary debits. Download our eBook which contains valuable information on credit score.

    Our Free Workshops

    Unsecured debt consolidation loansWe currently do talks around financial wellness to the staff of financial institutions like ABSA and Nedbank, but also do employee financial wellness workplace talks at many other companies like Shell, Freddy Hirsch, Woolworths and Multichoice.

    The reason for this is usually pretty clear to HR Payroll departments who often have also felt the debt burden of employees in the sense that these employees sometimes borrow money from fellow workers creating friction in the workplace.

    They might also try to take on extra jobs on weekends or after hours in an attempt to make ends meet, and therefore come to work tired. At some companies’ employees try to cash in their pensions to pay off unsecured debt, or borrow against it, thereby negating the good advantage the company had in the marketplace by offering the pension in the first place. When creditors are ignored, it sometimes even leads to garnishee orders that impacts on the payroll department. Many companies in Financial services cannot employ staff with impaired credit records as staff cannot then retain things like FAIS accreditation which is one of the main reasons ABSA and Nedbank invite us to speak so regularly.

    Minimum and Maximum period for repayment

    Personal loans typically have a repayment period of between 2 and 5 years. This calculation is based on a repayment period of 5 years (60 months). Credit Life Insurance has been added in this calculation. Monthly account fee of R60 (excluding VAT) and an Annual Interest Rate of 28% (or current Bank Repurchase Rate plus 21%). This calculation is a no obligation, free assessment and is intended to provide you with the information you need for comparison purposes only. For shorter timeframes, credit facilities (like Credit Cards and Revolving Loans) are more suitable products to use.



    CREDIT CARDS and LOANS for BAD CREDIT, bad credit debt consolidation loans.#Bad #credit #debt #consolidation #loans


    Loans and Credit Cards for Bad Credit

    Welcome! Since 2005, we have been dedicated to helping those with a bad credit rating rebuild their credit. We provide you with the knowledge and resources necessary for you to find the best loans and credit cards for bad credit, regardless if you have a poor credit score or past credit problems. We continously update our offers to bring you the best bad credit offers available.

    If you are looking for the right offer to fit your financial needs or repair bad credit, please begin by choosing a category of offers below:

    Compare the top 10 credit cards for those with bad credit and apply online instantly.

    Compare auto lenders that approve people with a poor credit score.

    Review the best services for debt relief and debt consolidation loans.

    Need a cash loan to pay bills, take a vacation, or start a business? Apply now.

    Compare options to repair your bad credit history and improve your rating.

    Get a new home loan now at a great rate regardless of your past credit history.

    Tips and Advice

    ► 5 Steps to Rebuilding Bad Credit

    Bad credit debt consolidation loans

    ► Credit Crunch Shrinking Size of Personal Loans

    Bad credit debt consolidation loans

    ► Inside the Brain of an Auto Lender

    Bad credit debt consolidation loans

    ► Filing for Bankruptcy: Chapter 7 vs. Chapter 13

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    ► Which Type of Home Loan is Right for You?

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    ► Too Much Debt? How to Break the Debt Cycle

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    Debt consolidation loans – Money Advice Service, government debt consolidation loans.#Government #debt #consolidation #loans


    Debt consolidation loans

    Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

    What is a debt consolidation loan?

    If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

    You borrow enough money to pay off all your current debts and owe money to just one lender.

    There are two types of debt consolidation loan:

    • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
    • Unsecured – where the loan is not secured against your home or other assets.

    Secured debt consolidation loans

    Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

    You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

    You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

    When should you consider a debt consolidation loan?

    Consolidating debts only makes sense if:

    • Any savings are not wiped out by fees and charges.
    • You can afford to keep up payments until the loan is repaid.
    • You use it as an opportunity to cut your spending and get back on track.
    • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

    Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

    For example, what if interest rates go up, or you fall ill or lose your job?

    If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

    You should get free debt advice before taking out a debt consolidation loan.

    Warning!

    Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

    When getting a debt consolidation loan doesn’t make sense

    A debt consolidation loan definitely doesn’t make sense if:

    • You can’t afford the new loan payments
    • You don’t clear all your debts with the loan
    • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
    • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

    Debt consolidation loans that don’t put your home at risk

    A better option might be a 0% or low-interest balance transfer card.

    This is the cheapest way if you repay within the interest-free or low-interest period.

    You’re likely to need a good credit rating though to get one of these cards.

    You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

    Fees and charges for debt consolidation loans

    Beware of the high fees some companies charge for arranging the loan.

    • Read the small print carefully for any extra fees or charges before you sign anything
    • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
    • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)


    FreshFinance – Better choices, government debt consolidation loans.#Government #debt #consolidation #loans


    Smarter ways to clear your debts

    Check you qualify for debt help, right here.

    FreshFinance Blog

    Clarity with our fees

    At FreshFinance our goal is to provide you with the highest level of service in the clearest possible way. Which is why we partnered with Consolidators Ltd and their advisory team who share this passion. Consolidators Ltd role is to carry out the debt help services for you. They do not receive funding from any other sources, so their charge to you is for providing their services to help you reduce your debts.

    The specific fee structures for Debt Management Plans, IVAs and Bankruptcy are not hidden from you. In fact we want to ensure you know all the facts, which is why we have compiled a complete list of fees for each.

    Making better money choices with Fresh Finance

    3 Great ways to deal with debt

    Designed to put you back on track

    Debt Management

    Help if you have debts of ВЈ2,000 and over

    Debt Management allows you to pay one affordable monthly payment for all of your unsecured bank loans, credit card repayments and your other debts.

    Firstly the hassle of dealing with your paperwork and and day-to-day dealings with your creditors is taken away. Secondly, our selected debt partners will look to negotiate the freezing of charges and interest on your accounts to help stop your debts increasing.

    Bankruptcy

    Help if you have little or no disposable income

    If you are facing bankruptcy then it is important to speak to a professional debt advisor before proceeding with bankruptcy.

    Fresh Finance was set up to deal specifically with cases of serious debt that require immediate expert help. Advice is given both on avoiding declaring Bankruptcy and also how to go through the whole bankruptcy process.

    Help if your debts are over ВЈ5,000

    An IVA can help you write off the debts you cannot afford. Debts that qualify for an IVA can be cleared in a set time period (usually 5 to 6 years).

    An IVA is a legal process by which you can gain protection from your unsecured creditors by entering into a legally binding repayment agreement with them, which is then supervised by a licensed insolvency practitioner.



    Student Loan Help, help with student loan debt.#Help #with #student #loan #debt


    help with student loan debt

    Goodbye, student loan debt. Hello, future!

    Help with student loan debt

    Get student debt answers now.

    A nonprofit NFCC Certified Student Loan Counselor will review all of your finances and help you develop a personal debt repayment plan, all for a nominal fee.*

    What s in it for you

    • A thorough evaluation of your entire personal financial situation—not just your student loans.
    • An audit of your current loans and their terms.
    • Comprehensive, one-on-one guidance through all student debt repayment options.
    • A full financial game plan, including which debt repayment plans are right for you.

    Here s what comes next

    • Set up a secure login.
    • Create your own confidential, financial profile online.
    • Be contacted by a nonprofit NFCC member agency.

    Ready? Set up your profile here.

    *Nonprofit, student loan counseling fees vary by NFCC member agency.

    I made the call. 1

    Help with student loan debt

    None of this was my fault, but it was my problem. Years ago, I co-signed a student loan with my then-husband. After we divorced, it stayed in his name. I made payments until the bank notified me the debt was forgiven. It wasn’t.

    Julie K Minnesota

    I didn’t leave school by choice. Two major health issues made the decision for me. By then, I had about $14,500 in federal student loans. Given my circumstances, I defaulted.

    1 Stories above represent actual NFCC client experiences.

    Student loan counseling.

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    review of your financial situation, including current income, living expenses, all debt and your long-term goals.

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    game plan that doesn’t undermine your personal short- and long-term goals by just directing you to a plan with the lowest current payment.

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    assessment that looks beyond income-based programs and consolidation to see if other avenues for retiring your debt might be available and make more sense for you.

    Why choose us?

    Gain access to over 60 years of experience helping borrowers like you get answers to all of their debt-related concerns, including student debt solutions.

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    Answers

    We are experts on the ins and outs of student borrowing and repayment and on how to minimize its impact on your overall financial health. We work with you every step along the way until your issues are resolved.

    Help with student loan debt

    Nonprofit

    You always know where you stand and who to call with questions about your student loans and any other financial issues that arise over time.

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    Local to you

    NFCC member agencies have office locations in all 50 states and Puerto Rico, which are staffed by NFCC Certified Credit Counselors.

    Be informed.

    Knowledge is power. To help you make the best decisions possible for your future, we keep you updated with access to a wealth of useful tools and resources.

    Get the latest insights on recent news regarding student loans and your personal finances.

    From calculators to definitions, find what you need to make better financing and repayment decisions here.

    Who is the NFCC?

    Founded in 1951, the National Foundation for Credit Counseling (NFCC ) is the nation’s first and largest nonprofit dedicated to improving people’s financial well-being.

    NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

    Member agencies are able to offer their services for nominal fees based on their current funding status. Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

    For more on the NFCC, visit www.NFCC.org

    Thank you to our funders.

    The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony Financial, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit www.SharpenToday.org.

    National Foundation for Credit Counseling



    Help with student loan debt, help with student loan debt.#Help #with #student #loan #debt


    A Look at the Shocking Student Loan Debt Statistics for 2017

    Help with student loan debt

    Updated: September 13, 2017

    It s 2017 and Americans are more burdened by student loan debt than ever.

    You ve probably heard the statistics: Americans owe over $1.45 trillion in student loan debt, spread out among about 44 million borrowers. That s about $620 billion more than the total U.S. credit card debt. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.

    But how does this break down at a more granular level? Are student loans being used to attend public or private universities? Is it mostly from four-year or graduate degrees? What percentage of overall graduates carry debt? Are more grads utilizing private student loan consolidation and refinancing?

    Let s take a look.

    BONUS: Get a PDF of these statistics to print out, save, or send

    General student loan debt facts

    First, let’s start with a general picture of the student loan debt landscape. The most recent reports indicate there is:

    • $1.45 trillion in total U.S. student loan debt
    • 44.2 million Americans with student loan debt
    • Student loan delinquency rate of 11.2% (90+ days delinquent or in default)
    • Average monthly student loan payment (for borrower aged 20 to 30 years): $351
    • Median monthly student loan payment (for borrower aged 20 to 30 yea rs ): $203

    Public Service Loan Forgiveness statistics

    As of Q1, 2017 (latest available data)

    PSLF Borrowers: 611,598*

    * Total number of borrowers who have one or more approved PSLF Employment Certification Forms (ECF)

    Note that borrowers are self-identified based on submission of an ECF.

    Federal student loan portfolio

    (updated for Q2, 2017)

    Now let’s dive into how much debt student loan borrowers carry by loan type, term, and more.

    Student loan debt statistics by loan program:

    Student loan debt statistics by loan type:

    Student debt statistics by loan status (Direct Loan Program)

    Student loan statistics by repayment plan (Direct Loan Program)

    Student loan debt by servicer

    (updated for June 30, 2016)

    Data Source: National Student Loan Data System

    More shocking student loan debt statistics

    If those numbers weren’t stunning enough, here’s a closer look at how students accumulate debt based on the type of school they attend.

    In 2012, 71 percent of students graduating from four-year colleges had student loan debt:

    • Represents 1.3 million students graduating with debt, increase from 1.1 million in 2008
    • 66 percent of graduates from public colleges had loans (average debt of $25,550)
    • 75 percent of graduates from private nonprofit colleges had loans (average debt of $32,300)
    • 88 percent of graduates from for-profit colleges had loans (average debt of $39,950)

    Twenty percent of 2012 graduate loans were private

    Graduates who received Pell Grants were likely to borrow, and borrow more:

    • 88 percent of graduates who received Pell Grants had student loans in 2012, with an average balance of $31,200
    • 53 percent of those who didn’t receive a Pell Grant had student loan debt and borrowed $4,750 less ($26,450)

    Private student loan debt statistics

    • Private student loan debt is on the rise; $6.2 billion was borrowed in 2012-2013, up from $5.5 billion in 2011-2012
    • From 2011-2012, borrowers didn’t take advantage of federal student loans as much as they could have: 19 percent didn’t take out Stafford loans, 8 percent didn’t apply for federal financial aid, 11 percent applied for federal aid but didn’t take out a Stafford loan, 28 percent had Stafford loans but borrowed less than they were eligible for
    • In 2011-2012, 48 percent of private loan borrowers attended schools that had tuition costs of $10,000 or less
    • Nearly 1.4 million undergraduates borrowed private loans in 2011-2012

    Graduate student loan debt

    About 40 percent of the $1 trillion student loan debt was used to finance graduate and professional degrees.

    Combined undergraduate and graduate debt by degree:

    • MBA = $42,000 (11% of graduate degrees)
    • Master of Education = $50,879 (16%)
    • Master of Science = $50,400 (18%)
    • Master of Arts = $58,539 (8%)
    • Law = $140,616 (4%)
    • Medicine and health sciences = $161,772 (5%)

    Clearly, as these student loan debt statistics show, the cost of attending college is becoming a growing burden for a huge portion of Americans.

    What are you doing to pay off your debt and ensure you aren’t another statistic? Be sure to let us know how we can help.



    Student loan debt: Why employers may want to help pay off college loans, help with student loan debt.#Help #with #student #loan #debt


    Here s why employers may want to help out on the mountain of student loan debt

    Help with student loan debt

    Employers eager to recruit and retain skilled workers in a tight labor market have about 1.34 trillion reasons to expand their benefits package to include assistance in helping employees repay their student loans.

    That’s the mountain of student loan debt being carried on the financial shoulders of 44 million Americans. And no surprise, the bulk of those would indeed love for the boss to kick in and help pay it back.

    More than 80 percent of workers with student loans surveyed by IonTuition said they would like to work for a company that provides a student loan repayment benefit. IonTuition, a fintech company focused on services to help borrowers manage their repayments, mostly surveyed millennials.

    Yet there is plenty of reason to suspect older workers would be eager for the perk, too. According to Federal Reserve data, borrowers at least 40 years old have a not-small $450 billion in student loans to pay off. A big part of that older cohort are parents who borrowed through the federal PLUS program or took out private student loans.

    The benefit is still clearly in the early adopter stage with just 3 percent of firms surveyed by AonHewitt currently offering student loan repayment assistance. AonHewitt says an additional 5 percent of surveyed companies say they are likely to add the benefit and 24 percent are moderately interested in adding the benefit.

    “Employers are incredibly curious and engaged around the issue given all the news about student loan debt,” said Balaji “Raj” Rajan , chief executive officer of IonTuition. He said IonTuition fields two or three inquiries a day from companies interested in adding student loan repayment assistance.

    A few big old-line firms including Aetna, Fidelity, PwC and Penguin Random House have begun to contribute to employees’ loan payments. Earlier this summer, the city of Memphis, Tennessee, announced it will contribute $50 a month toward employees’ student loan repayment.

    Adoption of the benefit is more common among smaller and mid-size companies with nimbler decision trees and the need to position benefits as a competitive edge in recruiting, according to Meera Oliva, chief marketing officer at Gradifi, a subsidiary of First Republic that provides a student loan benefit platform for employers, including PwC and Penguin Random House.

    Gradifi has more than 140 employer clients offering repayment assistance and is adding a half dozen or more monthly. “The bulk of our business is companies coming to us, not the other way around,” Oliva said.

    An employer contribution of $50 or $100 a month is common among the first movers. That can indeed be a big help, as IonTuition reports that about three-quarters of borrowers make monthly payments of $300 or less.

    Employer contributions go toward principal repayment. Gradifi’s website includes a free tool for employees to see how an employer assist can aid employee financial wellness. For instance, someone aiming to pay off $35,000 in debt over 10 years might be able to shave off 2.5 years and save some serious coin in the process:

    Help with student loan debt

    Waiting on Washington

    Chris Walters, chief executive officer of Gradfin, another student loan repayment and management tech platform, said the tax code is keeping plenty of interested employers on the sidelines.

    “If an employer contributes $100 a month toward student loan repayment, it costs $107.65 a month because it is treated as compensation and requires paying the employer share of the payroll tax,” Walters said.

    Moreover, the benefit is taxable to the employee as compensation.

    “It’s going to take a change in the tax code to see large growth in the benefit,” he said.

    More from College Game Plan

    These states have the worst student debt

    Bipartisan bills in the House and Senate would put student loan repayment assistance on par with employer tuition assistance, which currently allows employers to give employees up to $5,250 a year tax-free for tuition costs.

    The cost of that tax break likely makes for some tough sledding in this current Congress. Walters says that’s missing the bigger picture.

    “The federal government, meaning taxpayers, are already losing plenty in terms of defaulted student loans, and income-based plans that will be forgiven,” he said.

    “Congress should be worried about those losses. If the private sector comes in and improves debt repayment the Federal government is going to get paid more.”

    (Correction: This story has been updated to correct the spelling of Balaji “Raj” Rajan.)



    Discover Debt Consolidation, debt consolidation loans.#Debt #consolidation #loans


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    Payday Loan Consolidation

    The thought of quick cash has lured many desperate people into taking out a payday loan. Then the vicious cycle begins: even if you manage to pay off the loan, new bills pile atop old bills and another loan has to be taken out for the next pay cycle. Add origination fees and rollover fees, and suddenly you are in a world of hurt. The way you deal with your money on a daily basis can impact your life for many years to come. We can show you that sound financial practices do not always require “doing without, or giving up.” All unsecured loans (loans without collateral), still tend to be higher interest than many alternatives with collateral.

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    Debt Consolidation And Your Attitude Towards Money, The way you deal with your money on a daily basis can impact your life for years to come. We can show you that sound financial practices do not always require “doing without.” With financial education and planning, you employ learned skills to do so much more with what you have. When you are able to manage money efficiently, you can budget for emergencies, vacations, a new baby, holidays, college, a home, a car, or retirement.

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    This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: www4.law.cornell.edu/uscode/17/107.html. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner. Not Available in All States

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    Bad Credit Loans – HIGHEST APPROVAL – Personal Loans Online, bad debt loans.#Bad #debt #loans


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    Bad Credit Loan Center ™

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    Our goal is to make your process of finding online loans as stress free and easy as possible. Whether you re looking for a cash loan, an auto loan, debt consolidation or credit cards we can help.

    It takes less than 3 minutes to complete an application and usually with in a couple hours a lender will contact you if you re approved. It doesn t matter if you re looking for bad credit loans or good credit loans we can help you find a lender. Bad Credit Loan Center ™ provides a payday loan matching service only and is not a lender.

    For personal cash loans just click the Apply Now button directly above. You will instantly be taken to our partners 256bit COMODO ™ encrypted secure application.

    If you re looking for an auto loan, debt consolidation, bad credit personal loans or credit cards please use the navigation bar at the top of this page. For more information about us or loans for bad credit please visit the about link in the footer of this page.

    Bad credit loans should be used responsibly. You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.

    Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.

    Bad debt loans

    3 Simple Steps to Obtain Your Loan

    Bad debt loansPre Qualify: To pre-qualify for payday loans online you must have income of $1000 dollars per month and be at least 18 years old. Your income can come from a job, benefits, disability or anything along those lines.

    Bad debt loansComplete the Application: We utilize a short and easy fast loan advance application. It only takes a couple minutes to complete! It doesn t get any easier than this to get up to $1000 dollars today.

    Bad debt loansGet Your Cash: Once a lender match is found and you re approved your payday loans will be deposited the same business day if time permits. It usually only takes a few hours from application to cash in hand!



    Debt consolidation loans – Money Advice Service, unsecured debt consolidation loans.#Unsecured #debt #consolidation #loans


    Debt consolidation loans

    Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

    What is a debt consolidation loan?

    If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

    You borrow enough money to pay off all your current debts and owe money to just one lender.

    There are two types of debt consolidation loan:

    • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
    • Unsecured – where the loan is not secured against your home or other assets.

    Secured debt consolidation loans

    Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

    You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

    You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

    When should you consider a debt consolidation loan?

    Consolidating debts only makes sense if:

    • Any savings are not wiped out by fees and charges.
    • You can afford to keep up payments until the loan is repaid.
    • You use it as an opportunity to cut your spending and get back on track.
    • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

    Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

    For example, what if interest rates go up, or you fall ill or lose your job?

    If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

    You should get free debt advice before taking out a debt consolidation loan.

    Warning!

    Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

    When getting a debt consolidation loan doesn’t make sense

    A debt consolidation loan definitely doesn’t make sense if:

    • You can’t afford the new loan payments
    • You don’t clear all your debts with the loan
    • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
    • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

    Debt consolidation loans that don’t put your home at risk

    A better option might be a 0% or low-interest balance transfer card.

    This is the cheapest way if you repay within the interest-free or low-interest period.

    You’re likely to need a good credit rating though to get one of these cards.

    You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

    Fees and charges for debt consolidation loans

    Beware of the high fees some companies charge for arranging the loan.

    • Read the small print carefully for any extra fees or charges before you sign anything
    • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
    • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)


    Debt Counselling, SA, Counsellors, Consolidation, Management, Loans, Problems, Therapy, Bad Debts, Blacklisted, Free Credit Reports, Strand, Somerset West, Gordon s Bay, Cape Town, South Africa, bad credit debt consolidation loans.#Bad #credit #debt #consolidation #loans


    WELCOME TO THE WEBSITE OF DebtCounsellorsSA

    DEBT COUNSELLING IS PRESCRIBED BY THE NATIONAL CREDIT ACT 34 OF 2005 AND

    REGULATED BY THE NATIONAL CREDIT REGULATOR (NCR)

    Complete the application form below, and return it as soon as possible, so we can do a FREE EVALUATION of your debt situation.

    OR complete your contact details above, and we will contact you as soon as possible .

    Debt counselling is FORCED ONTO CREDITORS by the National Credit Act, and they cannot refuse your application, if you make a reasonable offer, to repay your debt.

    IS YOUR PERSEPTION THAT DEBT COUNSELLING IS EXPENSIVE?

    Think again: Statistics show that

    DEBT COUNSELLING IS THE CHEAPEST WAY OF DEBT COLLECTION IN SA!

    *Statistics provided in the December 2014 DCASA (Debt Counsellors Association of SA) Newsletter

    Debt Counselling Fees, as a percentage of repayments, amounts to 4.56%.

    � With Legal Fees, the cost to Consumers increases to 7.42% of repayments.

    Normal Credit Provider Collection Costs range from 17% to 23%.

    � The Cost of Debt Counselling is however Reduced by the Negotiated Industry Concessions,

    which is part of theTask Team Agreement.

    � In terms of this agreement Credit Providers agreed to:

    o Reduce Fees to zero and to

    o Reduce Interest rates to zero% on unsecured and

    o Repo + 2% on secured debt (now 7.75%)

    � A full reduction, according to these concessions, would Reduce Payments by 39%.

    � In cases where interest is reduced (say from 31% TO 28%) this reduction

    fully covers the debt counselling fees (3% reduction covers ALL fees!).

    – BUT remember, debt does not make you a �bad� person in any way, just unfortunate.

    � We have clients under debt counselling, over the total spectrum of life � from rich to poor – cleaners to doctors, advocates and people you would never suspect having financial difficulty.

    � Creditors use the law, to retrieve their money. The National Credit Act states that after only 20 days in default of your accounts, and creditors can start with legal action.

    � Use the same Credit Act against your creditors, to repay your debt, according to what you can AFFORD. Debt counselling is FORCED ONTO CREDITORS by the Credit Act, and they cannot refuse your application, if you make a reasonable offer, to repay your debt.

    Since very early times, there is reference to poor and over-indebted people, which has not changed over the centuries. Every era and culture had their own way of dealing with debt � just look at these two examples:

    o Debtors and creditors are mentioned even in the Bible! The difference however, was that creditors were much more lenient towards debtors during Biblical times. In Exodus 22:25 [God says] �If you lend money to any of my people with you, who is poor, you shall not exact interest from him; If ever you take your neighbor�s garment in pledge, you shall restore it to him before the sun goes down.

    o The Roman Law provided that a debtor, who failed to make good payments to his creditors, could be �in parti secant� (his flesh could be cut!), or sold into slavery.

    o Sections 65A to 65M of the South African Magistrates’ Courts Act provided for the imprisonment of judgment debtors in certain circumstances, until it was found in 1995 by the Constitutional Court to be inconsistent with the right to personal freedom provided for in section 11(1) in Chapter 3 of the Interim Constitution.

    FORTUNATELY YOU NOW HAVE THE NATIONAL CREDIT ACT TO PROTECT YOU

    o According to statistics recently released by the NCR, the number of consumers with impaired records in SA keep to rise. According to the report, consumers with impaired credit records increased by 119 000 in the last quarter, to 9.5 MILLION � which is a dramatic jump.

    o About 15 000 consumers apply new for debt counselling every month.

    BY READING HERE, YOU NOW HAVE TAKEN THE FIRST STEP TO DEAL WITH YOUR DEBT � AND THIS IS TO

    ADMIT YOU HAVE A DEBT PROBLEM, SO NOW YOU NEED TO ASK US TO HELP YOU

    Nobody outside debt counselling ever needs to know you have applied for debt counselling � everything is very confidential � no salary deductions.

    � Debt counselling fees are prescribed by the NCR, and debt counsellors cannot receive more than these fees.

    � A debt counsellor is not allowed to receive your monthly payments, and distribute it to your creditors.

    � Our debt counsellors are well trained, have an excellent reputation, and are consumer activists..

    One of our clients recently said: �You changed our lives 120%�!

    FREE EVALUATION of your debt situation .

    Court rulings are heavily skewed in favour of creditors, where consumers cannot repay their debt. Millions of summonses, judgements, sales in executions and salary attachment orders are issued every year.

    Apply for debt counselling today, before you become one of these statistics.

    Bad credit debt consolidation loans



    Debt consolidation loans – Money Advice Service, government debt consolidation loans.#Government #debt #consolidation #loans


    Debt consolidation loans

    Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

    What is a debt consolidation loan?

    If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

    You borrow enough money to pay off all your current debts and owe money to just one lender.

    There are two types of debt consolidation loan:

    • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
    • Unsecured – where the loan is not secured against your home or other assets.

    Secured debt consolidation loans

    Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

    You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

    You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

    When should you consider a debt consolidation loan?

    Consolidating debts only makes sense if:

    • Any savings are not wiped out by fees and charges.
    • You can afford to keep up payments until the loan is repaid.
    • You use it as an opportunity to cut your spending and get back on track.
    • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

    Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

    For example, what if interest rates go up, or you fall ill or lose your job?

    If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

    You should get free debt advice before taking out a debt consolidation loan.

    Warning!

    Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

    When getting a debt consolidation loan doesn’t make sense

    A debt consolidation loan definitely doesn’t make sense if:

    • You can’t afford the new loan payments
    • You don’t clear all your debts with the loan
    • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
    • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

    Debt consolidation loans that don’t put your home at risk

    A better option might be a 0% or low-interest balance transfer card.

    This is the cheapest way if you repay within the interest-free or low-interest period.

    You’re likely to need a good credit rating though to get one of these cards.

    You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

    Fees and charges for debt consolidation loans

    Beware of the high fees some companies charge for arranging the loan.

    • Read the small print carefully for any extra fees or charges before you sign anything
    • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
    • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)


    Student Loan Debt Counseling and Advice, NFCC, help with student loan debt.#Help #with #student #loan #debt


    Student Loan Debt Counseling and Advice

    Borrowing to pay for college is the easy part. There is no shortage of financing sources, but choosing the right one is a little more difficult. And, choosing the best repayment options for your student loan debt once you leave school can range from merely confusing to downright complex.

    That’s where we can help. Our member agencies offer access to NFCC student loan counseling services. With deep knowledge of the various student loan programs and, more importantly, the repayment options available under each, they will work with you to review your entire financial situation. They not only look at your student loan debt, but also at any other outstanding debt you may have, such as a mortgage or credit card debt.

    These experts will then guide you, based on your personal situation, to ensure your payments remain affordable and minimize their impact on your current finances and future plans.

    Specifically, we will help you understand:

    • The pros and cons of the programs available to you.
    • Strategies to reduce the total amount of interest you pay over the life of the loan.
    • Steps to take to ensure timely repayment.
    • What you can do if you have trouble making your payments.
    • Options for keeping repayment affordable.
    • Loan rehabilitation programs.
    • Student loan debt consolidation choices.
    • How to identify potential options toward cancellation and forgiveness.

    As NFCC® nonprofit community-based agencies, each of our members offers access to counseling services in-person, by phone or online.

    With NFCC student loan counseling, our counselors will not only advise you on the most appropriate repayment plan for your personal financial situation, they’ll also help ensure your rights as a borrower are respected, your questions are answered and any errors in your account are corrected. Get the help and counseling you need, whenever you need it, for as long as you need it. Access a student loan expert and advocate now.

    Get the help and counseling you need, whenever you need it, for as long as you need it. Access a student loan expert and advocate now.

    Student Loan Repayment Assistance



    Student Loan Relief and Bankruptcy, help with student loan debt.#Help #with #student #loan #debt


    Student Loan Relief and Bankruptcy

    As the cost of a college education has risen, so has the number of graduates carrying a substantial amount of student loan debt. Ideally, students use their degrees to land well-paying jobs and quickly pay off their loans. But job markets are cyclical and careers don’t always go according to plan. This section covers the basics of student loan debt relief and the various options available to debtors. Topics include the different ways graduates can repay their loans, options for debtors who simply cannot afford to repay their student loan debts, and the consequences of defaulting on one’s student loans. Check out FindLaw’s Guide to Student Loan Debt for a printer-friendly reference guide with summaries on how to handle your debt, and what to do if you cannot afford payments.

    Difficulties with Student Loan Repayment Options

    Student loans can represent a significant expense and when financial difficulty arises many are unaware of the options to manage student debt. Since defaulting on a loan can result in serious consequences there are a number of options available to many borrowers. Some loans can be delayed through deferment or forbearance options, allowing the borrower to postpone payment. Some loans can be cancelled, thereby eliminating payments. Some loans are eligible for income-sensitive or income-based repayment programs. And, finally, some loans can be more manageable when consolidated.

    Deferment is a common means to address difficulty paying student loans. Deferment may postpone payment on a loan, and it may also prevent interest from accruing during the period of deferment, depending on the type of the loan. In order to qualify to have your loans deferred you must normally establish one of the common grounds for deferment. Although they may vary depending on your lender, common reasons for deferment include:

    • temporary total disability;
    • enrollment in a rehabilitation program for a disability;
    • unemployment;
    • economic hardship;
    • enrollment in school;
    • entry into uniformed service;
    • service to a needy population;
    • work in health care or law enforcement.

    Another option is to attempt to have your loans discharged through bankruptcy. However, this is very difficult, if not impossible, under the current law. Generally, student loans will not be discharged in bankruptcy unless the borrower can show that their repayment would impose a severe hardship on them, which is a very high standard.

    What Happens after a Student Loan Default?

    When a student loan borrower fails to keep current on their payments they become delinquent the first day they miss payment. If they remain delinquent for nine months the student loan enters default. The borrower may then be held liable for collection fees and the commission charged by any debt collection agency involved. The Department of Education has a number of collection options available to them.

    The Department of Education may seize your tax refund to be applied toward defaulted student debt. Though borrowers may appeal the valid defenses are limited. If the loan was repaid, is being repaid under a negotiated repayment plan, belongs to someone else, or limited other circumstances the borrower may be able to prevent seizure of their tax refund. Alternatively, the Department of Education may seek to garnish your wages. They can garnish up to 15 percent of your disposable income, or no more than $217.50 per week. The defenses to garnishment are very similar to the defenses against the seizure of a tax refund.

    Other options include seizing federal benefits such as Social Security retirement and disability benefits, the revocation of professional licenses, and lawsuits to collect from assets such as bank accounts, valuable property, and real property liens.

    Learn About Student Loan Relief and Bankruptcy

    Difficulties with Student Loan Repayment: Options

    Student loans can be a big financial burden. This article explains several options available to those who are unable to repay their student loans, including student loan deferments and forbearances.

    What Happens after a Student Loan Default?

    Lenders have a number of tools at their disposal in order to collect on student loans in default. Find out about some of the consequences that can result from a default on student loan debt.

    Options for Student Loan Repayment

    A number of payment options are available to those who are struggling with their student loan debt. Learn about some of the most popular student loan repayment options, like income-based repayment and refinancing.

    Checklist: Which Debts to Pay First

    Prioritizing your debts can help you cut down on your debt burden in the most efficient way possible. Use this checklist to determine which types of debts you should tackle first.



    3 Ways to Consolidate Loans, debt consolidation loans.#Debt #consolidation #loans


    How to Consolidate Loans

    Loan consolidation can save you money if done right. You consolidate loans by rolling all your little loans into one bigger one. To come out ahead, you need to find a consolidation loan with a low interest rate and a reasonable term. You can consolidate using a personal loan or a balance transfer credit card. If you consolidate student loans, you have other options.

    Steps Edit

    Method One of Three:

    Finding a Personal Consolidation Loan Edit

    Debt consolidation loans

    Debt consolidation loans

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    Method Two of Three:

    Using a Balance Transfer Edit

    Debt consolidation loans

    Debt consolidation loans

    Debt consolidation loans

    Debt consolidation loans

    Method Three of Three:

    Consolidating Student Loans Edit

    Debt consolidation loans

    Debt consolidation loans

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    Debt consolidation loans



    Debt Consolidation – Consolidate Debt in South Africa, debt consolidation loans.#Debt #consolidation #loans


    Approved Debt Consolidation Portal

    Debt consolidation in South Africa

    Debt consolidation in the most simple terms, involves rolling several outstanding balances into one account with a lower monthly payment. individuals who are eligible for a debt consolidation plan are usually able to negotiate a smaller interest rate percentage with creditors, making their consolidated balances much easier to pay off.

    Debt counseling

    Excessive debt is now a modern reality for many people from all walks of life. individuals with unmanageable outstanding balances have several options for help through debt counselling, including debt consolidation through restructured payment plans, renegotiated monthly interest rates and adjusted payment terms with each creditor.

    Debt review

    Due to higher costs of living, a sizeable number of people have run into financial hardships through no fault of their own. sudden interest rate increases can make monthly payments unaffordable with little forewarning. debt review is a process of restructured payment terms to help individuals repay debts after meeting their monthly expenses.

    Debt management

    The majority of south africans need to take on loans to afford homes and vehicles, which can sometimes lead to unforeseen financial difficulties due to interest rate hikes. with the assistance of a financial advisor, some specific debt management practices can help to safeguard against these future difficulties.

    Debt solutions

    Too much consumer debt is an unfortunate reality for individuals from all professions and backgrounds. missed payments bring on additional problems such as late fees, accrued interest and possible legal action from creditors. several specific debt solutions are available for south africans seeking to improve their financial situations.

    Sequestration

    For people encountering significant financial hardships, sequestration presents the best possible option when other debt relief measures do not suffice. the process entails an individual being declared insolvent of outstanding debts through high court rulings and later steps of rehabilitation to start restoring creditworthiness.

    Debt consolidation loans Debt consolidation loans



    4 ways to manage your credit card debt – CBS News, consolidating debt.#Consolidating #debt


    4 ways to manage your credit card debt

    The average credit card debt for an American household is $5,700,and it rises to more than $16,000 for households that do not pay off their balances each month. Clearly, while that level of debt is challenging for many households, it can be tamed and managed, along with other expenses and obligations.

    Here’s how to manage, and eventually pay off, a credit card debt.

    Defining The Depth of Your Debt

    Managing your credit card obligations begins with assessing how manageable, or not, they really are. While that sounds relatively simple, financial advisors often have a hard time assigning a specific figure or formula that defines punishing debt.

    Instead, they offer more general guidelines. For example, Matthew D. Zimmelman, a bankruptcy attorney from the New York City area says he often advises clients that they are “probably carrying too much credit card debt if you cannot pay it all back within six months without liquidating investments or retirement accounts.” Kelsa Dickey, a Budget Coach with Fiscal Fitness in Phoenix, tells her clients that their credit card debt is too much if they “are tying up too much money in payments,” and if their debt prevents them from making positive changes such as “leaving a job you hate or saving money for a vacation.”

    Taming Your Obligations

    Making a budget is a critical first step to managing debt and other obligations. Christine Luken, a Certified Financial Coach with 7 Pillars, LLC notes that a “budget will keep spending on track so you don’t go further into debt.” People also need to “get organized from a debt standpoint,” says Kelsa Dickey, and thoroughly review the interest rates and balances associated with their cards. That way they can “figure how much have available each to month to tackle the debt.”

    Financial advisors point out that people need to avoid certain behaviors in order to get their credit card debt under control. Christine Luken tells individuals ” to stop using your credit cards in order to get them under control and make progress in paying them off. Switch to payment methods like cash, debit cards and PayPal.” Kelsa Dickey advises her clients against taking “everything out of your checking account” to pay off credit card debt. If a person takes that action and then has to make a large purchase a short time later (say an emergency car repair), he or she then feels like a failure. It is best to “plan ahead and be realistic.”

    Be Cautious Of Debt Consolidators

    Debt consolidation programs advertise that they help people address their debts. However, personal finance experts point out significant drawbacks to using these specialists. Matthew Zimmelman notes that, “it’s very hard to pay down a large amount of debt when the program you are paying each month takes large fees off the top, leaving little for the creditors.” He also mentions that these programs have a huge legal disadvantage. “You also are at the mercy of your creditors while enrolled in debt consolidation and they can still collect and bring suit.”

    In addition, consolidation programs do not always address the psychological roots of high credit card debt. Kelsa Dickey mentions that, “In general, they don’t work. Debt is a symptom.” Her assessment is that people end up with onerous credit card debt because, “the systems they have for managing money are failing.”

    Avoid a Debt Relapse

    After you pay off your credit cards, you need to take steps to avoid ending up with large debts again. Christine Luken of 7 Pillars advises people to avoid a recurring problem by, in part, limiting the number of cards they carry. “If they choose to keep a credit card after their debt is paid off, I would recommend that they only have one, with a small limit. The other option would be a secured credit card.’ With these options, she says, “if they get in a financial bind, the bank can cash out the savings account that is securing the card and pay it off in full.”

    It’s also useful to have psychological reinforcement that mitigates against a backslide into debt. “When you finally pay off those debts, be proud,” says Matthew D. Zimmelman. Kelsa Dickey of Fiscal Fitness notes, “People need to make a mindset shift.” For her, planning ahead and taking ownership of their money are key to managing, and eventually eliminating, credit card debt.



    Loans, Credit and Debt – Canadian Banks #pay #day #loan


    #loans canada
    #

    Loans, Credit and Debt

    The majority of Canadians have at least one loan. and in fact most of them have many loans. Credit and debt have become a way of life, and saving is no longer in vogue. This of course is unsustainable and resulted in the severe financial crisis we are in now.

    Loans come in many forms, depending on the purpose of borrowing. For example a business in need of capital would apply for business loan. while a student can take advantage of Canada Student Loans Program to finance their education. Debt consolidation loans are a great solution for persons or businesses with several loans with high interest rate, allowing them to consolidate their debt and do refinancing at lower interest rates.

    Equity Loans (home equity loans) can be obtained using your home equity as collateral for a large sum loan (think of this as a second mortgage). A home equity line of credit (HELOC) is a special kind of credit line tapping the existing equity in your home. Home owners trading up, might need a bridge financing. while arranging for permanent one. In certain cases, borrowers might want to consider getting interest only loan.

    A loan can be a secured loan (car loan for example) or unsecured loan (personal credit line for example).

    If you want to get a loan, then you can use various loan calculators to determine your monthly payments, by entering the loan interest. amount, and the amortization period. Another thing you can do is pull a copy of your credit report. to make sure that the information there is correct and it won’t affect your ability to get a loan. If you have less than stellar credit, it’s likely that mainstream lenders won’t be willing to give you a loan, and in this case you can apply for the so-called bad credit loans from one of the Canadian subprime lenders. If debt is overwhelming you can take advantage of credit counseling services available to borrowers in trouble.

    Credit Cards are very popular credit instruments. Choosing a credit card is not always easy with so many choices available on the market. Before applying for a credit card make sure that, you have read and understood the credit card terms (check our Credit Card Tips article for more info). Be careful if you see an advertisement for a no-interest credit card (believe me there’s always a catch). If you have bad credit or no credit history you can apply for a secured credit card. from one of the Canadian banks. Learn what is a prepaid credit card (it’s not a credit card really) and if you are a heavy credit card borrower, learn how to get rid of credit card debt.

    Payday loans have always been a controversial subject, and while the general opinion is that they are bad for consumers, there’s no denying that some people need them. Payday lenders make it really easy for borrowers to get a small loan, and many lenders offer payday loans online. To be able to decide for yourself if payday loans are good or bad, read what is a payday loan. how does a payday loan work. and what’s payday loans ultimate cost.



    How Do I Qualify for a Government Debt Consolidation Loan? mobile wiseGEEK #student #loan #consolidation #rates


    #government debt consolidation loans
    #

    wiseGEEK: How Do I Qualify for a Government Debt Consolidation Loan?

    To qualify for a government debt consolidation loan, you will typically have to meet the criteria of the lending program in question. Usually, these programs are offered for students who have more than one loan and want to make repayment easier. You can likely qualify if you are not in default or delinquent on your payments. Depending on where you are located and the type of loan in question, you may not have to submit to a credit check as you would if you were hoping to consolidate other types of loans. In fact, when participating in a government debt consolidation program for student loans, you may not even need a job to qualify.

    Typically, you’ll need outstanding government loans to qualify for a consolidation loan. This means that, if you received a loan from a private institution and it was not backed by a government guarantee, it is unlikely that you will qualify. If you have two or more government-granted or -backed loans that are eligible for a loan consolidation program, however, you may qualify to consolidate your debts.

    The first step in qualifying for a government debt consolidation loan is usually learning the criteria of the program in which you are interested. In many jurisdictions, the only type of debt consolidation program available is for people who have student loans. In such a case, qualifying is often very easy. For example, government debt consolidation for student loans is often available without regard to credit history or current income. Likewise, you will not typically need any collateral or a cosigner .

    While your credit history and employment status may not figure in your ability to secure a loan, there is one factor that usually proves critical: payment history. Typically, you will be turned down for this type of loan if you are delinquent on your payments or in default on any of your government-granted or -backed loans. Often, however, government student loan programs have measures in place to allow you to catch up on payments and get out of default status. Once you’ve done so, you can typically apply for and receive a consolidation loan.



    Getting $15, 000 Personal Loans For Bad Credit And Debt Management #15000 #loan


    #15000 loan
    #

    Getting $15,000 Personal Loans For Bad Credit And Debt Management

    Overcoming financial pressures is made easier with a loan. Lenders are willing to grant a $15,000 personal loan for bad credit if the purpose is to take control of spiraling debt.

    Most of us believe that having bad credit scores means we have very little chance of securing a meaningful loan. Lenders, after all, do not like lending to risky borrowers. But with the growth of online and subprime lenders, large loans have become attainable. So, a $15,000 personal loan for bad credit and debt management is realistically possible.

    It would be nice to get fast loan approval, but lenders will often take their time to check credit histories when a large sum is being sought. However, getting loan approval to clear debts is more likely because of the purpose. The only thing for applicants to worry about is meeting the basic criteria.

    But to help in the approval chances, it is worth enhancing aspects of the application, like improving the credit score to lower interest rates, and adding a cosigner to remove the risk. With such a strong application submitted, getting a personal loan becomes a formality.

    How to Qualify

    So what are the basic criteria that must be met? Applying for a $15,000 personal loan for bad credit can be tricky but qualifying is pretty straightforward. There are just four principal qualifications to worry about, and these are no surprise to anyone who has ever sought a loan in the past.

    The first qualifying condition is that the applicant is aged 18 or older. The second, is that they are a US citizen, or have a permanent residency visa. And the third, is that they must be in full-time gainful employment. Normally, the applicant must be employed in their current job for a minimum of 6 months.

    It is impossible to get loan approval to clear debts if these conditions are not satisfied first. But once they are, other details are examined, like income and debt-to-income ratios. Applicants also need a bank account, to ensure an easy funds transfer and to facilitate automatic repayments for the personal loan.

    Consider Credit Score Improvement

    There is no secret to the advantages of getting a $15,000 personal loan for bad credit management, or to clear debts that are causing financial woes. The extra cash can clear existing debts, and as each is paid off, the credit score of the applicant rises. As a result, extra cash is freed up to allow funds to be go elsewhere each month.

    But bad credit borrowers must accept some compromises if they are to secure these loans at all. Low credit scores mean high interest rates, which means the repayments each month are high. Getting loan approval to clear debts may be admirable, but if the repayments are too high then rejection will follow.

    So, it is a good idea to improve the credit score before submitting an application. This can be done with a series of small payday loans, perhaps of just $500 each. They must be repaid quickly, but when they are, each loan cleared will raise the score, making life easier when seeking a larger personal loan.

    Get a Cosigner

    Improving the credit score is a good idea, but getting a cosigner vastly improves the chances of securing a $15,000 personal loan for bad credit. Cosigners guarantee that monthly repayments will be made, even if the borrower is unable to make them. In doing this, the element of risk is removed from the loan deal.

    It also means that interest rates are lowered and so the loan becomes more affordable. And with nothing to worry about, lenders are only too happy to grant loan approval, to clear debts or any other reason.

    The only condition is that the cosigner has an excellent credit record. a healthy debt-to-income ratio and a reliable income that is also large enough to handle the personal loan repayments.

    Source: Free Articles from ArticlesFactory.com



    Government Debt Consolidation Loans for Student Loans #payday #loans #direct #lender


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    Government Debt Consolidation Loans for Student Loans

    If you are burdened with multiple student loans, you can take the help of government debt consolidation loans to ease your burden.

    Debt consolidation loans from government

    If you have multiple student debts, it often causes you a lot of inconvenience to make payment to each creditor every month. Government debt consolidation loans can take away some of your troubles. These loans are made available through different government programs so that you can repay your multiple student loans. Under this arrangement, you are required to make only one single payment every month instead of making separate monthly payments to each of your creditors. In order to reduce the interest rate, debt consolidation converts unsecured debt into secured debt.

    Various government programs

    The government runs different types of programs that especially help the student community to consolidate their loans to reduce and eliminate their debt as quickly as possible. Students incur debts mostly because of student loans, credit card debt, and medical bills. The education department of the government usually settles the original federal education loans and arranges a fresh loan for the consolidated amount of the old loans. This is done under what is known as the Direct Consolidation Loan Program. They do not consolidate other debts.

    Programs under Higher Education Act

    There are two programs under the Higher Education Act, the Federal Family Education Loan Programs and the Direct Loan Program, which offers you the advantage of debt consolidation. Under such an arrangement, you are issued a fresh consolidation loan so that you can repay your existing student loans. In all probability, you took your existing loans from various sources having different terms, dates of repayment etc. Debt consolidation will consolidate all your loans into a single one requiring a single monthly payment at a reduced interest rate. The amount of monthly payment you are required to make is also smaller to your advantage. Better still, you now have a clear idea about your repayment terms, the interest rate charged, and the due date of payment. You are often allowed to extend your payback term so that repayment becomes easier for you with monthly payments getting smaller.

    Four government plans

    You can utilize four plans under the government debt consolidation loan program, namely standard plan, extended payment plan, graduated payment plan, and income contingent repayment plan. No matter which plan you need, each of them contains features that greatly help anyone having student debt problems. All these plans provide the flexibility that one expects from a good debt consolidation program.



    Four Types of Debt Consolidation Loans #loans #for #people #with #poor #credit


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    Types of Debt Consolidation Loans

    There are a few different types of loans you can use to consolidate your debt.

    Home Equity Loans

    A home equity loan is a loan that s taken out using the equity in your home as collateral. You typically must have a fair amount of equity in your home and good credit to qualify for a home equity loan. While the interest rates are typically lower than other types of loans, the drawback is that your home is now on the line for your credit card debt. If the payments become unaffordable, you face foreclosure on your home.

    Because of that it s generally not a good idea to use a home equity loan as a debt consolidation loan.

    Credit Card Balance Transfers

    A low interest rate balance transfer involves transferring all your credit card balances onto a single credit card. Low balance transfer interest rates are typically promotional rates that expire after a certain period of time. If you choose this option, make sure you know when the low rate will expire and the interest rate that will go into effect. If you want to use a credit card balance transfer as a debt consolidation loan, you ll need a credit card with a large enough credit limit to hold all your credit card debt.

    Continue Reading Below

    There could be a downside to consolidating debt with a balance transfer – a hit to your credit score. Putting too much debt on one credit card could have a negative impact on your credit score as your credit utilization goes up.

    Personal Loan

    Personal loans can be used as debt consolidation loans. A personal loan is an unsecured loan that has fixed payments over a fixed period of time. Once you re approved for a personal loan, you can use it to consolidate your debts. Depending on your credit rating, you could have trouble getting approved for a personal loan. If you have bad credit you may be approved but at a higher interest rate, or you may not be approved at all.

    Debt Consolidation Loans

    Debt consolidation loans are offered by banks and credit unions for the sole purpose of combining your debts. Debt consolidation loans vary, so it s important that you choose wisely. Debt consolidation loans ideally have a lower interest rate than the rates you re currently paying. They allow you to lower your monthly debt payments by increasing the repayment period.

    Choosing a Debt Consolidation Loan Type

    Know that with a debt consolidation loan, you re not really getting rid of your debt. Instead, you re simply shuffling it around so that it becomes easier to pay. You ll feel like you have less debt and may be tempted to borrow more. Practice discipline and avoid borrowing until after your debt consolidation loan has been completely repaid. Even then, it s important that use good judgment in taking on additional debt.



    Debt Consolidation? USAA Member Community #loans #south #africa


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    Financial Advice Q in the right hands it can do a lot of good, but if used incorrectly, it’s pretty dangerous.” So the question is, are yours the right hands or the dangerous ones? Here are a couple points to help you decide:

    Behaviors and Mindsets

    First and foremost, you generally shouldn’t consolidate your debt until or unless you’ve fixed the behaviors and mindsets that caused you to end up with a bunch of debt in the first place. It sounds like you’re on the right track here but don’t underestimate the importance of this. If you don’t get an emergency fund in place (ultimately shoot for 3-6 months’ worth of your committed expenses) or you don’t stick to your budget, it’s typically just a matter of time before you find yourself with even more debt – the consolidation loan and new debt that will arise due to continued overspending and not having money in the bank.

    Interest Costs and Repayment Terms

    The next thing you want to look at is the interest costs of the debt you currently have versus what it will cost to consolidate. For example, let’s say you have 2 years left on a 5 year car loan at 4.9% interest and you have the opportunity to consolidate it into a loan at 7% with a 5 year repayment term. This probably wouldn’t be a good idea since you would be increasing the interest rate and the term of the loan. Generally, I’m in favor of consolidating debts only if it results in you paying less interest over time.

    One last thing, I’d encourage you to temper your expectations about being able to get a consolidation loan for this amount. You might have trouble finding a bank willing to lend you that much, but it might still be a good idea to try. It’s hard to know the right answer here in advance but the good news is you’ll have a lot of influence over how it turns out with either choice.

    Thank you so much for your question. I hope this helps and I wish you all the best!