Credit News

Consolidate Your Credit – Top 10 Options #federal #school #loans

#consolidate debt

Consolidate Credit

10 Ways to Consolidate Credit Card Debt

Readers often ask Bill, the advice columnist, how to consolidate their credit card debt. Here is a summary of Bill s top 10 suggestions for you to consolidate credit card debt.

1. Apply for a Home Equity Loan

A home equity loan is money you borrow that is secured by your ownership stake in your home. Home equity loans are similar, in some ways, to standard primary mortgage loans. Both have fixed principal amounts disbursed when the loan closes, pre-set payment schedules, and either adjustable or fixed interest rates. Home equity loans also share similarities with Home Equity Lines of Credit (HELOCs).

2. Consider a Cash-Out Refinance

In a cash-out mortgage refinance, the home s value is estimated by an appraiser. The house s value is compared to the balance on the home loan. Any equity available can be borrowed against by the homeowner. If the homeowner refinances for amount larger than the balance of the mortgage, this is called a cash-out refinance.

3. Open a Line of Credit

A line of credit is a form of revolving credit where the borrower is approved for a specific amount of credit. Banks and credit unions typically offer consumers lines of credit secured by a home. They may also offer an unsecured line of credit to high net-worth customers with perfect credit history.

4. Transfer to a Card with 0% Interest Balance Transfer

0% balance transfer offers are available only on certain credit cards, and only well-qualified people are offered these cards. However, if you qualify, the 0% rate is for a limited period of time. If you do not pay off the debt you transferred onto the new card within the promotional period, the creditor will begin charging interest on the remaining balance.

5. Apply for a Personal Loan

Personal loans have fixed monthly payments and must be paid-off in-full within a set amount of time (typically over 36 or 60 months). You can find personal loans at your local bank, credit union, Prosper or Lending Club .

6. Get a 401(k) Loan

A 401(k) loan, if allowed by the rules of your 401(k) plan, is a withdrawal from your account that you repay with a modest interest rate. The interest paid goes to your account. You pay yourself the interest. There is no tax consequence for a 401(k) loan that is repaid. The risk of a 401(K) loan is the costs involved if something prevents you person from repaying the loan as agreed.

7. Borrow From a Rich Family Member

It probably will save interest charges, but personal loans create the potential for damaged personal relationships, the expectation that you ll return the favor years down the road, and even legal action by someone who was previously a good friend or close family member. If you are asked to lend money to a relative, consider instead gifting the person the money.

8. Consult With a Credit Counselor

Consumer Credit Counseling Service (CCCS) companies help people with financial counseling, budget planning, and Debt Management Plans (DMPs). In a DMP, the CCCS arranges a new payment amount with each of your creditors that is based on a lower interest rate. You then make a monthly payment to the CCCS, which distributes the funds to creditors. CCCS has negatives, though. First, depending on your creditors, the CCCS may not be able to reduce monthly payments enough to improve your financial situation. Second, it may have a negative impact on your ability to obtain a loan, so you may not wish to enter into a DMP if you anticipate any large purchases, such as home or an auto, soon. Third, the average DMP takes 5 years to complete, so you must be able to commit to a long-term repayment plan.

9. Hire a Debt Settlement Company

Debt settlement companies also offer credit consolidation services. Rather than making monthly payments to your creditors, these programs negotiate lump-sum settlements with creditors, often reducing debts substantially. Debt settlement programs usually take 3 to 4 years to complete, so this is a good option for many people to rid themselves of debt in a speedy manner. In many cases, they set up a low monthly program payment. However you make special savings deposits in lieu of minimum monthly payments. You are not making payments to creditors, which has negative consequences. First, debt settlement programs, will significantly damage your credit score while in the program. You will also be exposed to your creditor s collection efforts, including letters calls and possible lawsuits. However, if you are unable to afford to pay your creditors, the hit to your credit and the negatives may be worth the benefit of ridding yourself of credit card debt.

10. Create a Budget and Change Your Spending Habits

One of the first steps toward financial freedom is to understand how much money comes in and goes out of your household every month, what is called your cash flow. Your cash flow is a factor of how much comes in as income and how much goes out as expenses. Hopefully, you have much more coming in than is going out and if you don t you may need to make some quick changes. Start by creating a budget that breaks down your income and expenses by financial categories, providing you with a snapshot of your entire cash flow picture.


As you can see, you have many options to consolidate your credit card debt. Which you choose depends on your goals, circumstances, and the amount of your debt.

Top 4 Reviews of Just Military Loans #student #loan #application

#omni military loans

Just Military Loans

Worst Company EVER. Just Military Loans

By Jose – 08/15/2012

Rating: 1 / 5 1

WILMINGTON/SANDY SPRINGS, DELAWARE — Just military loans is by far the worst military “friendly” loan company in the whole United States if they were an international financial institution it would be in the whole world. Fast Loans? yeah right. There is not words to describe the magnitude of bad service and poor management these people offer to our service member not to mention the outrageous APR they charge you oviously to get you into more debt in the future. Their slogan “Serving those who serve” please remove that out of your website is more like screwing up those who serve. This following message is for you Just military loans and their Staff.

Answer me this question. How does it feel to scam the people that protect this country with their own blood and sweat in the battlefield? how would you feel if I was your brother your sister your mother and you were giving me the type of treatment you give these service member would you sell an 70% 80% APR loan to your own mother?

We come back to the country we come from so that our fellow American can help us out not screw us over. Shame on you guys how do you even sleep at night from the CEO to the newest employee in this financial institution from the wealthiest investor to the least one. I can’t believe this is the kind of people I risk my life for out there in the field.

I thought to myself you guys were living to your motto to your slogan but I guess I was wrong. But you keep what you doing. One of these days you will hear from the Distric and State attorney along from the president of the United States Himself. Companies like yours shouldn’t be on business. Taking advantage of those in need.

Top 13 Complaints and Reviews about #loans #online

#united cash loans

Consumer Complaints Reviews

I borrowed $350 from UnitedCashLoans with the understanding that I would repay $455. If I did not make the full payment on March 9, a payment of $105 would cover the loan for another month. They attempted to take out the $105 on 3/9 and the money was not there. They charged a $30 fee and the credit union charged $25. UCL then tried to get the money again and another $25 was charged by the CU. I put money in the account, then called UCL and made a payment of $105 by check card. I then got a call from UCL saying I was in collections, owed them $560 by April 6. They said the service charge ($105) was due every pay period, which I had no idea was part of the deal.

I sent an email to UCL and my CU cancelling the authorization to debit my account for UCL payments. I will pay them either the $350 or the $560 depending on how I feel now that I know I’m dealing with complete crooks. And I may not send them another cent! There is a mailing address on the last page of the loan contract: UCL 3531 P St. NW Miami, OK 74355.

I will send them a money order and that will be the end of that. I tried to look them up on the BBB Oklahoma site and there was no information.

Top 12 Complaints and Reviews about City Loan #standard #bank #loans

#city loan

Consumer Complaints Reviews

I did get a title loan from City Loan and wish I did not. As I have read, not just to me but everyone. They do not help you in time of need; like they say they do in their ad. I called and was lectured horribly and hung up crying. I have been under medical care. About a week or so after getting the loan I received devastating medical news about myself. They did not care. I missed two payments and called them when I could pay. They refused to work with me and the Truck was taken. I have never been spoke to in such a rude manner with lack of compassion. I took the easy way out to get some financial help but will never do this again.

Please find an alternative to taking out a car title loan. City Loan charged me $9400.00 for a loan of $3900.00. I paid $5700.00 in interest and when I called for the payoff, I still owed $3700.00, thus, $200.00 went to the principle in a year’s worth of payments. I argued that “I have already paid so much, please consider the interest already paid and allow a lower pay off.” Ignaucio the manager agreed that I had paid a lot and he said I could pay the car off with $2700.00 additional dollars because he could not authorize anything lower. I agreed. However because I was trying to pay it off with a debit card and not a cashier’s check, Ignaucio rescinded the agreement and told me he does not take calls after hours even though I have phone logs showing I made over five calls to him that day during office hours and left a detailed message thanking him.

This loan company is the worst as they prey on the poor. Furthermore, they treat people like second class citizens. When a call is placed for customer service they are rude, and unethical is the name of the City Loan game. The company lacks goodwill, customer service and ethical business practices and I plan to launch a social media campaign posting the outrageous fees to try and get people to call legitimate companies like Springleaf, and I am not an advocate for Springleaf, but they are much better than City Loan. Fred Cary the president of City Loan should be ashamed of himself and his employees. Fred what goes around comes around, and one day City Loan will be shut down. If you have been hurt by City Loan please write your Congressman, contact the Attorney General and fight City Loan with bad reviews and tweet the message to stay away from City Loan and others lenders like them..

Top 64 Complaints and Reviews about CitiFinancial #interest #free #loans

#citifinancial loans

Consumer Complaints Reviews

In 2013 my husband went to prison for 5 years, I sent papers for modification of loan and said if they would lower my interest 9.65% to a decent rate I could pay $600 a month. I am retired, lost my 26 year business and bankrupted because of my husband. They called me and said that all would be fine, they could lower and help me. Never heard anything from them for nearly a year, then only 2 calls for information. Then one day I got 14 exact copies of legal foreclosure papers stating owed $132,000 but when called CitiFinancial, they said $119,000. Then following day a woman came into my yard, handed me a exact copy of same legal papers stating $119,000 and Dec 18 auction on house.

I am a real estate attorney and title agent. I have had nothing but grief in dealing with these people. Typically a request for a loan payoff take 3-5 days, TOPS. It took 12 (yes, TWELVE) faxes to successfully get the request processed, but even that did not get me the payoff I needed (and am legally entitled to). The first 11 times were successful according to my fax machine (who uses fax machines these days?!) and after my third try, I had the rep on the phone to make 100% sure it was coming through on their end.

But, when the payoff instructions never came in, I would call back and the reps always ended up saying “We show nothing in our system that you requested this. Who did you speak with?” I’d tell them (I learned long ago to get the name and phone extension, if available, of all customer service reps) and they would put me on hold, claiming that they were calling or messaging this person (which I don’t believe), and they would say that the rep claimed to never have receive it (allegedly the same person who was on the phone with me when I made the fax and who verbally confirmed that they had it in their hand!).

When the payoff FINALLY did get sent to me, it included the cover page and the top inch or so of the second page and was 100% useless. I got so upset, I drove to a local branch (30 minutes away) and told them that I was not leaving until they got a hold of someone at the payoff office in Ft. Mill, SC, and not without the payoff information in hand. I sat there for 3 full hours. The local branch people were embarrassed and apologized, but I told them while I did not blame them personally, they should look for another job, because their employer is evil and dishonest. I told this to the branch manager as well, and he just smirked at me, as only a banker can.

I kid you not, no joke, it took a full MONTH to get the requested payoff, and I had to jump through hoops to appease them, the likes of which I have never heard of. They deliberately made it difficult to pay this loan off; I am confident in this conclusion. Believe me when I tell you, I am a highly competent professional and know how to get things done. I deal with banks and credit unions daily, multiple times a day, in fact, and no lender comes even close to how horrendous these people have consistently proven to be. These people need a good tarring and feathering.

Top 68 Loan Companies, Read Reviews and Complaints #boat #loan #calculator

#loan company

Loan Companies

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Top 61 Complaints and Reviews about PLS Payday Loan Store #best #personal #loan

#payday loan store

Consumer Complaints Reviews

Over a period of time when using the PLS prepaid card I began to recognize unidentified charges to my account. Firstly, I phoned when I first received the card because I recognized that there were consistently $1 charges being deducted from the card and decided to switch to a monthly fee. I was informed that this would be a $5 charge but to my surprise about 2 months into using the card $6.95 was deducted twice from my account. When I phoned to inquire why the charges took place I was informed that it was $6.95 and not $5 as I was informed earlier.

Now, what brings me to closing my account today is that I went to my bed with a balance and awoke this morning only to make a purchase based on my balance. To my surprise my transaction did not go thru because my monthly amount that’s due on Nov 7 was not fully deducted from the account ALTHOUGH my account had more than enough monies to deduct that $6.95 amount. I requested my balance be sent to me on a daily basis as parts of ensuring that I’m in the know of what my balance is. I did not receive a text message of the balance of my account after PLS deducted the amounts from my card which allowed my purchase to be declined.

Why go in and deduct the monies twice? And if PLS did not receive the $6.95 on 10/7 what happens on the 10/8 date? Why wasn’t the balance deducted on that date? Why is informing the customer via text message in place? For only when it suits PLS? Some of their customer reps are rude and have limited knowledge of how their product works. They’ve lost a quality customer. They fail to realize that there are other prepaid companies out there, and companies who with better guidelines and who knows how to treat their customers. Kudos and goodbye!

Top 98 Complaints and Reviews about HFC Financial Services #fha #loans

#hfc loans

Consumer Complaints Reviews

I could go on and on about my negative experience with HFC. The most recent was a lack of any assistance when going through a lower income period. Even worse years back the lies, the illegal charges, etc. It was so bad I almost had a nervous breakdown. There was never anything they could do and especially at a time when I would have qualified for another mortgage such as the harp program. They were not a lender that participated in anything but what they offered, which was NOTHING. I guess we took the mortgage. we suffer the consequences.

We have had a 1st and 2nd mortgage with HFC since 2007. At that time any existing small loans or other mortgages were rolled into the new one with HFC (would show as paid off). Our new mortgage process enrolled us in the “on-time payment to lower interest” plan (they neglected to even start it until 2012). In 2010 we did a Chapter 13, (which is the one that pays everything off by us making a lump dollar payment to the court trustee), but the mortgages were not included. we did a direct pay to HFC for both. We paid off the HF line of credit during this whole process and because of the way the HFC/HB paperwork was filed, they got paid by the bankruptcy court too! So they actually got paid twice. And you say “illegal and crooks”. In Sept 2015, we became debt free except for the house. Intending to refinance, we completely replaced the roof. no problem with financing.

HFC, and by way of connection, HSBC are crooks and no one in any government regulatory agency seems to have any jurisdiction over them. We need to find an attorney with guts who will do a class action suit to get this company to do right by their customers. In the “land of the free and the home of the brave”, we are being held hostage by a financial terrorist who is not even a US lender.

Top 163 Complaints and Reviews about Title Max #advance #loans

#loan max

Consumer Complaints Reviews

When I first took out my loan with TitleMax the payments were scheduled in the 3rd week of each month. I informed their employee that I was glad this was the case because I got paid twice a month instead of weekly and my 1st check covered my rent and electric bill and my 2nd check can cover the loan payment. It wasn’t long before I received a letter informing me that my payment schedule had been changed and I was now required to make my payments on the 15th instead of the 23rd of each month.

I asked why they felt it was necessary to do this and could I please have my payments scheduled some time in the last 2 weeks of the month and they said no, I’d have to pay when they tell me to pay and apparently they don’t have to tell me why, but I know why: They knew the new date fell within the range of my first check and I would have to pay the rent and electric bill first and they hoped I would have a hard time paying them and they figured I’d always be a week late making payments out of my 2nd check. They would take my money and probably not complain too much about the lateness, but eventually, after I had paid a substantial amount of cash, they would increase the pressure, and when it suited them, like the thieves in the night so many on here have claimed them to be, they would sneak up to my house and drive off with my car and rob me of more cash when they auction it off.

To avoid this scenario I made 2 payments on the 23rd and continued to pay them on the 23rd of each month and made a point of doing the transaction with the particular employee that I had words with over why my payment date had been changed. It was my way of saying f. u. to him. I think they made 1 more feeble attempt to trip me up when they pushed my payment date up again from the 15th to the 8th when I had just 4-3 more payments to go and I have no doubt that if I were just 1 day late on a payment they would be at my door with bells on their toes come to steal my car out from under me, but it ain’t happenin’. By then it didn’t matter when I paid them, I had switched jobs months ago and was paid weekly (and more money, too) and only paid them on the 23rd for my own satisfaction. I got my title back from them today and I will never, ever do business with them again.

They are a predators that prey on people desperate for money and have no problem robbing them of their hard-earned cash by charging outrageous interest on the money they loan and right before the loan is almost paid off they want the person to give them any reason at all so they can rob them of their car, too, the one thing they need the most to go to work and earn money just to live. I read a couple of letters on here saying people knew what they were getting into when they sign the contract but people tend to do what they have to do at the time and hope for the best and these companies know that. The people who come to them will be late on payments, may end up in the hospital, might lose their job or endure any number of misfortunes that can cause even worse hardship than what they were facing when they walked into the car title loan office and what is despicable about this business is they count on this.

A person who has lousy credit or not working or is hard up should be able to take a loan out on their car but the businesses who deal with these people need to be regulated and not able to so blatantly rip people off like they do. I would rather live in a tent as to work for a company like that. They encourage their employees to be rude and cold hearted in their dealings with customers. Working for a place like that would surely mess your karma up. They shouldn’t be allowed to charge such outrageous interest, to be able to so easily repo a person’s car and to arbitrarily change the rules and make up rules as they go along. They can still make a lot money off of loaning money to people with car titles without being the highway robbers that they are.

Top Amortization Schedule and Loan Repayment Excel Calculator #payday #loans #no #credit #check #no #employment #verification

#loan repayment calculator

Top Amortization Schedule and Loan Repayment Excel Calculator

By uncle on September 13, 2013

Classic loan calculators that you can find on most finance or bank websites offer you only limited functions. Basically you can choose loan amount, add interest rate and set loan term and the calculator will tell you how much your weekly, fortnightly or monthly repayment will be.

What you cannot do is doing some more in depth analysis and modelling. For example you cannot keep adjusting your payment amount or payment frequency to see what the effects on the total loan term will be.

Loan Repayment Mortgage Amortization Schedule Calculator in Excel will allow you to do all these things and much more!

Download free version of the calculator: click here

Buy premium version of the calculator: click here

Update, April 24th, 2013.

We upgraded this calculator recently and added few more handy features. To see what s new, check this post .

Benefits and what you can do with it:

✔ Calculate amortization schedule for any loan amount

✔ Principal, Interest and Total Repayment amounts breakdown

✔ Know exactly how much principal you owe at any point in time

✔ Suitable for any loan type mortgage, personal loan or hire purchase

✔ Choose daily, weekly fortnightly or monthly payments frequency

✔   Daily repayments give you up to 7 years of amortisation schedule

✔ Weekly repayments offer up to 50 years of amortisation schedule

✔ Audit your bank if they charge correctly or are cheating on you

After feeding all the entry data, the calculator immediately shows you the results.

Calculation Results:

✔ Total length of loan term in years

✔ Date of the last payment

✔ Total amount of principal, interest and repayments paid

✔ Detailed amortization schedule

Have you ever been in a situation when you wanted to take another loan? Then your bank asked you how much you owe on other loans but you couldn’t answer because you simply didn’t know?

Well, now with our calculator you will have the exact overview about any outstanding amount owed at any given time!

On top of that, before taking out the loan you will be able to calculate for yourself in advance how much you can afford to borrow, what your repayments are and how long it will take to pay it off.

You will also know how any extra repayments influence (shorten) the total time needed to repay the loan in full. These extra repayments can be any bonuses or dividends you receive and then put against your loan.

User Manual

1. Enter entry parameters into the header area

2. Amortization schedule is populated immediately. Now enter any extra payments

3. Review the results for repayment term and total paid straight in the header next to the entry parameters.

4. Play with it, change parameters and perform data modelling until you are satisfied with the result

5. Print the schedule.

Note 1: The schedule will automatically fit your printer width. However, the spreadsheet is quite long, pre-populated with formulas. To avoid printing blank pages (hidden formulas) just check which is the last page containing some data and set the print range accordingly.

Note 2: If you key in the entry parameters and the amortization schedule is showing some nonsensical data (negative principal values), it means that your nominated repayment is too low and does not cover even the interest. In such case you need to increase the repayment amount.

Do you like our calculator? We would love to hear your feedback and any suggestions to improve it even further. Please let us know in the comments below!