Government Debt Consolidation Loans – Update

Jones asked:


I just recently lost my job and I am living with my parents. I want to combine two credit cards, student loan and two car payments.

Is there a way that I can apply and get approved for consolidating my debt if I have nothing in my possession for collateral?

student loan consolidation

James Allen asked:


Are you looking for bad credit student loans with no credit history required? Then this guide is going to help you find out your best options, to save time and money and get your student loan approved fast.

You know how most lenders refuse to provide a loan to people with less than perfect credit history. No matter how much you need your loan and what an honest person you are, most loan companies will not trust you if you have a bad credit history.

So how can you get your student loan? How can you get the financial means you need to continue your desired education?

The good news is, there is a solution to help you get your loan: Bad credit student loans.

No matter what your credit history is. Actually almost no credit history is required. The success rate for this type of loan is very high because there is no strict credit history requirements – unlike other normal types of loans.

Bad credit student loans are an easy, almost guaranteed way for students with bad credit to easily get their desired loan.

There are many lenders and companies that understand your situation and are willing to help you with your education. They don’t look at your credit history and accept you based on your other qualifications – like your educational background.

There is just little downside to this type of loan comparing to normal Federal government student loan, which is a bit higher interest rates.

So if you have tried to apply for Federal loans and it got rejected, you can easily try student loans for bad credit and you are almost guaranteed to succeed.



government student loans

A Procos asked:


If you fail to pay your student loans for a total of 270 days, you will descend into default and things could get very stressful for you. Your wages could be garnished. Wage garnishment is a legal procedure in which a person’s earnings are required by court order to be withheld by an employer for the payment of debt such as your government student loan or your private student loan.

Your federal and state tax refunds could be seized as well; this will not bode well for your credit rating either. You will not be able to obtain any further credit with a default on your credit history record. The federal government will not let up… as they can collect on a student loan for at least 25 years. At this point you may feel that you will not see the light of day again; however it is possible to recover your bad debt.

You will need to be responsible about paying back the loan by paying twelve consecutive payments to the loan; these payments need to be made by the due date every month. Do not skip a month as you will be back to square one again. Once you have paid twelve consecutive payments the student loan then gets sold to a new lender and your default gets taken off your credit history. How this works is that when a new lender buys your defaulted loan, you start off on a fresh footing as if the old loan never existed in the first place.

However, not all records are removed from your credit history, missed payments before your default will remain for seven years. Once you have recovered from the default you once again have the same rights as other borrowers on your student loans, in other words you have the right to defer or apply for forbearance if you become unemployed.

You will also be given the option of other plans with your new loan, for example you could choose an extended, graduated or income-sensitive repayment plan program. With the extended payment plan, you can make the minimum payments of about $50.00; however this can take a very long time to pay the student loan off, at least 30 years. With the graduated repayment plan every two years your payments increases. With an income-contingent repayment plan, your monthly payments are calculated and adjusted each year based on your earnings and loan amount debt.



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BOB asked:


15k in credit card debt, 17K in personal student loan debt, 15K in government student loan debt, 15k in car loan debt.

All im trying to do is consolidate my CC debt. The rest i will deal with with later.

Anyone know of a legit company? No marks from credit solutions please!

i know you guys are on the ripoff report and i have called the better business buereau about you and know you are bad business and fradulent.
STOP…READ…. NO MORE CREDIT SOLUTIONS MARKS!!! YOU GUYS ARE FRAUDS. CANT YOU READ WHAT I POSTED ABOVE AND YOU GUYS ARE STILL POSTING ANSWERS. GEEZ!!!

Kansieo.com

Troy Morrow asked:


A Federal Student Consolidation Loan can help students with financial difficulty. Apply for a Federal Consolidation Student Loanif you need government help. Federal consolidation student loans can save gradates as much as 50% in payments every month. Education in these days is the biggest requirement above and beyond food and employment for maintaining a suitable life. In order to get a job to pay the rent, it is necessary that you are armed with the power of awareness. To satisfy the needs of diverse students who find it complicated to pursue their education plan, the Government is providing students with the Federal Student Consolidation loan. This loan is combined from different loans taken, by students. For example, if you have several student loans with various interest rates, you when you consolidate those loans into one, you’re left with one loan and one low fixed interest rate.

Because most students will go on to further their education further than the first few years of college it’s nice that the US government has launched the Federal government student loan consolidation program which allows students in continuing gaining much needed knowledge even after they graduate. Here’s to higher learning.

Of course once you get that fabulous job the lender will want you to start repaying your loan as soon as possible, they’ll let you know when. Basically, Federal government student consolidation loans should be paid back when you complete your education and is earning income. Single installment repayments save the student from repaying different loans at different times with different interest rates. Loans vary, you can request a repayment plan that fits your needs, you can choose from 10 to 30 years. Though, the longer the time period you choose, the larger the amount you pay.

Federal government student loan consolidation does not require a large processing fee, and the payments can be costume fit for you. The interest rate is fixed, which would be the average of the total interest rates of all your loans. Then it is rounded off to the 1/8%. Students with a history of bad credit are still eligible for federal loan consolidation. There are no minimums to the loan amount. If you have more than one loan your payments will be somewhat high but you’ll still get the massive savings that come from having a Federal student loan consolidation.

Students should feel comfortable knowing that the premium policy of the Federal government student loan consolidation is indeed a student friendly program. The government is in place to assist the students with loans that offer the lowest interest rates and the ideal plan. If you’re a college student that would like to start saving, don’t wait find out if the federal student consolidation loan is good for you. Now that you know how federal consolidation student loans work you should start looking for a new lender and consolidate your loan today. If you want firsthand experience in learning about good consolidation student loan deals, then you should visit your local financial institutions right away.

By: Vernosha Anderson



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