admin answers:

Student loans are for your education mostly but you get a small amount that can be put aside and used for bills and such. I would think that using this money on rent, food or utilities would be much wiser spent but hey – what you do with it is your own business.

admin answers:

There are a few options:

1. You can go the credit counseling route. There are tons of Govt approved counselors, make sure you go through them, to prevent getting scammed. Here is a link to list of counselors approved by the Govt, by State: http://www.justice.gov/ust/eo/bapcpa/ccde/cc_approved.htm

A reputed counselor can basically look at your finances and work out a payment plan, so you can send just one monthly check to them, which they distribute to your creditors; they can also negotiate lower rates with your creditors, and also provide you with other money management suggestions. Here is what all a counselor can do for you: http://www.credit-card-debt-relief-info.org/debt-management-credit-counselor.html

2. If you prefer to do this yourself, you can try and get a consolidation loan from your local banks or credit unions. But since your balances are that high, I doubt if you can secure such a huge loan, with a decent rate. One option may be a secured consolidation loan, where you put up a collateral, but you have to make the choice if you wish to put an asset of yours (like home or vehicle) under risk, to resolve your credit card issues. Here are some ideas on where you can get consolidation loans: http://www.credit-card-debt-relief-info.org/debt-relief-loan.html

3. Last option is settlement, but since you haven’t missed payments, and your dad’s income is on the higher side, you may not qualify for this. It is typically for those that are several months in default, and are unable to manage on a day-to-day basis. Again, a counselor may advise what the best course of action is, so I suggest you fix up an in-person appointment with one who is closest to you. All the best.

admin answers:

It looks like you have $23K of debt, and an income of $9600 per year. With the interest involved in CC debt, it is going to take you a long time to get out of debt if things stay the same. You didn’t mention what your current expenses are, i.e. Rent, food, utilities, etc.

First thing, cut up the credit cards. Your income and obvious spending habits are not compatible with credit cards.

My suggestion is for you to sell the car for as much as you can get, and get a good, cheap used car. You cannot afford that “cool” car right now. By selling the car, you will free up the payment amount to start paying down those credit cards.

STOP SPENDING on anything other than the essentials.

Lastly, get a part time job and put ALL the income toward paying down the CC debt. Credit cards have horrid interest rates, so the sooner you clear them, the better off you are.

Once you get the CC debt cleared, then you can think about a better vehicle.

You are 24. You will get to the point in your financial life where you can afford better and more “stuff”. But for now, pay off that debt so you don’t ruin your credit rating.

admin answers:

All consolidation loans do is move your debt around, in any cases at higher rates and longer terms so you pay even more interest. I suggest selling the car that has a car payment attached to it, replace it with beater you can buy with cash and severely reduce your spending and pay your current debt down. No more loans! Cut up your credit cards. If you can’t pay cash, you can’t afford the item.

admin answers:

In reality, credit counselling helps you gradually reduce your monthly payments in such a way that you are able to balance you debt to a value that is easily affordable. This article helps you in understanding the process to work with credit counselling. The best time to look for the help of a credit counsellor is when your account is handed over to collection agencies and the bill collector’s start haunting you day and night. You must be very careful when deciding which credit counselling service to opt for. You must know that many of these services are set up just to make benefits and they cannot actually help you staying within the legal boundaries. Get all information about your credit card debt at: http://www.credit-card-gallery.com/article/176,Features_Of_Credit_Counselling_Services

admin answers:

Heres what you need to do:

Start carrying a list with you and writing down everytime you purchase something.. Even it it’s a .50 or $1 item you need to write it down. Do this for 2-3 weeks.

Next sit down with all your bills, paycheck and that list. Figure out how much money you have each month with paying the miniums on everything. Call everyone you owe money to and set up a payment plan. Usually they will accept anything and with doing your budget you will see how much you can afford to pay monthly.

Then figure out which debt is accuring the highest interest rate. Pay any extra you can do it while paying the minium on everything else. Once one debt is paid off take that money and apply it to your next highest accuring debt and start paying away at it.

Now, keep in mind you should also be saving a emergancy fund. This typically is a 3-6month worth of living expenses. It’s not to go shopping or out to eat with it’s for emergancy such as a lose of job, car repairs etc.. Save 10% each month or take the extra money you where paying to the highest accuring debt and save it and just pay the minium until your emergancy fund is in line.

Now you will want to see what bills you can get rid of or cut down on. You will see with carrying that list you probably spend on items you don’t need to or could spend less on. Examples are taking a lunch to work with you, making your morning coffee and take with you, cut down your cell phone or home phone, same with cable and internet.. Make 2 or 3 days worth of meals at once as it will save you money and time.. Eat alot of soups, vegatables and pastas.. You also should look into getting a 2nd job or a roommate if you have a extra room.

Remember you must live frugally to make it through this. Your habits must change and if you really focus on it, it will happen and one day soon you will be debt free.. After all isn’t that the American dream to be debt free and retire one day? Whatever your goal and dreams are keep them in mind during this process and it will help you make it through. You might want to go to the library and get a book by Dave Ramsey called The total money makeover. Good luck and happy holidays

admin answers:

Check the site thoroughly. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.

Http://loan-house.we.bs/loanconsolidation.html

http://loan–house.blogspot.com/2008/03/loan-consolidation.html

admin answers:

If you are waiting only for that application than you are going to get an in big trouble, because if that application will rejected than you again apply for another organisation and thay will also take time to disburse the loan.so there are so many private organization available where you can get a student loan. How much time they take to disburse your loan, is up to the work they do and how many paper you can provide to them.
I can tell you who get me my student loan,which they provide me when my score is also not good.

Http://badcreditloans.50webs.org/studentloan.html

they can help you as well to get approved your loan, and if they cant then don’t worry at all there are so many others also who can help you as well. Good luck dear.

admin answers:

This depends on whether you have other outstanding debt. Generally, the rule is that as long as you have outstanding debt, you should pay only the minimum payment (as long as that minimum payment covers at least the accruing interest) on all debt EXCEPT the one debt with the highest interest rate–so you continue to pay down as much as possible on the highest-interest-rate debt until it’s paid off, then you attack the next-highest-interest-rate debt.

Therefore, for as long as you have other outstanding debt (including credit cards, home loans, etc.) you should pay only the minimum on your student loans, since it typically has the lowest interest rate.

admin answers:

Have you talked to the financial aid office of the school you want to attend? Have you filled out the FAFSA form? I don’t think you will have trouble getting a regular student loan.

admin answers:

Of course they can be retired! This is an issue of credit. If your co-signer has good credit and the lender deems them a worthy risk, there should be no problem having them be your co-signer.

admin answers:

Yes, he can get private loans with a U.S. Citizen (or eligible resident) cosigner. Check with the different lenders.

admin answers:

Your grandma does have an income, if she is able to sell or purchase homes, this is an income. Yes she would be good if she is willing to sign for you, you need her information, she probably has social security or retirement also, you might not be aware of, but Yes she would be a good person to ask.

admin answers:

A number of differenct companies
Will need to check the official records of the case which are available on line

admin answers:

It depends. Your brother would have to go to the ticket window to get his ticket with either his mom’s credit card or if you print out the confirmation number they can retrieve it that way. The person in the booth may not give him the ticket if he is too young unless your mom is getting it with him. However, if they have the ticket kiosk where you can go and handle that without a person, just the computer, it will print the ticket out for you. Once your brother goes inside though, they may not take his ticket if he is too young and they may reject him. Usually PG-13 movies aren’t too strict, it’s the R movies. It also depends on the person if they care while they’re working or if they don’t care what happens cause they hate their job.

admin answers:

If you are in default on a government backed or direct (Stafford) loan, your tax refunds are subject to offset for the outstanding debt.

If you are in default on PRIVATE loans (any private loan, not just private student loans), those can NOT be recovered by offset of your tax refunds.

admin answers:

Quarterly. = 4 times a year

admin answers:

I cant answer you question but i found some useful here :

http://student.consolidationloanworld.com/how-to-get-the-best-student-loan-consolidation-rates.html

it may be answer you question,.
Best regards

guntur

admin answers:

Yes

admin answers:

1- relatives
2- government
3- your bank
4- Private student loans (sally mae, etc). But you’ll pay a lot of interest….

admin answers:

Check with your home state or the state where the college is located. Sometimes the best deals can be found through a state sponsored program. Most loans require you to keep full-time student status for payment or interest deferral. Make sure you read all the fine print. If you didn’t know, deferred loans do not have to be paid back until a specified period after you graduate. Some loans do not offer this feature. Some loans suspend this feature if you do not continue full time status.

admin answers:

Here is an excellent site with some wonderful options for you.

Http://badcreditloans.50webs.org/loanconsolidation.html

admin answers:

I depends on if they are private or funded by the government. If they are private, I believe you are unable to consolodate them, but I could be wrong.

If they are government funded, then you can call one of the loan holders and see if they will consolodate your loans and see what your APR is going to be…or just do a search online for “student loan consolidation.”

One thing you need to watch out for is the fact that generally even though your interest rate will be lower over all, you will most likely pay more in the end because you will be paying longer. You need to decide if the convenience of making one payment is worth that, or if making all three payments is best…

admin answers:

Write a check each month.

admin answers:

Your first choice should always be to check with your financial aid office. Often times there are local banks that can help you out the most, or certain loans that work very well with your specific major. For example, I work at a health sciences school. We work a lot with one loan that is aimed at health profession students, so it has a very low interest rate. Sometimes a local credit union will partner with your school and offer low-interest loans to its students. Or even better, since you’re looking for a relatively small amount sometimes your school will have either Perkins loans or school-based loans that it can offer you.

admin answers:

You will be able to enroll elsewhere while paying the loan if you enroll after your grace period (fall 12), and you will also be able to get new loan while paying off old loan.

The loan does not carry over to the new school, while the school does write the final check the loan is adminstered by the federal government and can be taken anywhere you feel like

What do you mean that your fafsa is no longer, but that you can register for fall 2012. I belive that you could go down to the new school and register for spring 12 (you only have to take 6 credit hours) and then you won’t have to pay off the loan for way longer, in fact till you get that new degree

admin answers:

What Kyle said- no offense, but don’t you even know what kind of loan you got? Next time, read the fine print before you sign a promissory note and don’t borrow more than you need. Even if you return the unused money to the lender now to lower your principal, you have already probably paid an origination fee on that money. Whether or not it makes sense to pay toward the car loan depends on whether your student loan is subsidized or not, and what the two interest rates are. For example, if your car loan is 3% and your student loan is 7% and unsubsidized, it does not make sense. Anyhow I don’t know that the intent of a student loan is to buy a car. Now that you have taken out the loan, it might be a good idea to save it for next year (or summer classes) and borrow less at that time.

admin answers:

Doubtful. The judge, or lawyer, or social worker is not likely to look too kindly on someone who quit their job to go back to school. Kinda looks like you’re doing this to avoid your responsibilities.

Should have taken precautions (to prevent this).

admin answers:

With a student loan you can pay for anything you want. You’ll have to pay the money back, and anything over the amount to helo you pay for school is yours to do with as you please.

admin answers:

Yes that is correct

admin answers:

My husband is thinking of getting his Phd. Im on the same boat as you.. Im pissed, cause its more school and its not fair.. However, i don’t want to be the wife that not supportive.. So, I know what your going through!!!