Debt Consolidation Sources

Posts Tagged ‘Debts’

I’m trying to repay my debt but I am having a very hard time. I have about 40k in debt including interest I’ve accumulated (over estimate, to be safe) most of which is 1 private and 1 federal student loan (probably 35k worth) and the rest are utility bills that are years past due. I’m in my twenties, not a home owner, and currently not a student. Most all of, if not all of, these debts have already gone to collections. I work a job with unsteady hours so I’m never sure how much my pay check will actually be for, this makes it very difficult to budget. Not to mention, I simply don’t make much money. I’ve been actively looking for a higher paying and steadier job but haven’t had luck, yet.

I was wondering if debt consolidation would be a good option for me. I’m wary because so many other people here on yahoo answers have said that they are scams that ruin your credit rating and leave you owing more than you originally did. Is this true? If so, are there other ways to consolidate your debt that are safer? I’m told bankruptcy isn’t an option for me because it will not cover student loans, the vast majority of my debt. Is this true? My biggest worry is my student loans, I feel confident that I could pay off my past due utility bills.

So my main question here is, what is the best option for an impoverished twenty something to pay off crippling student loan debt?

I really want to go back to school and finish my degree, but I don’t know how I could possible afford going back to school when I’m drowning in so much debt from past student loans.

Out of three choices, debt consolidation loan, credit card assistance program, or bankruptcy lawyer, what is the most reasonable way to pay off my debts?

whats the best place to get a consolidation loan for debts with fair credit … i dont want to mess up my credit anymore please advise…how soon an i purchase a home after getting this type of loan? i would like a starter home soon im tired of paying rent i want to consolidate all my bills into 1 payment and purchase a home please advise on situation and suggest areas to move too… thanks

I want to take out a loan to consolidate my debts and to invest in some things to spruce up my home. What is a good place to do this? I have heard Wells Fargo is good. Are they? Any other suggestions? I’m looking for like the ,000-20,000 range.

I’m wondering if getting a debt consolidation loan would be the best option for me and my husband. We just got married on May 22nd, both 22 and last month bought our first house. We also have very good credit scores; when we were applying for our home loan we both had 710+. The only thing is now we’re looking at all of our other bills that we have; it’s not TOO much, probably under 8k, but we’re really trying to get them paid off. Most of them have deferred interest right now which is good, but the expiration dates are coming up within the next 6 -12 months and we know we won’t be able to have them paid off by then and the interest rates on some of these things are very high.

Would getting a loan with a lower interest rate to pay off our credit cards be the best route to go? Any suggestions?
Steven, what you’re saying doesn’t even make sense. We already DID buy a house and we DID have the money to make a down payment. Because of that fact, now we DON’T have enough to pay all of our other debts before the interest kicks in.