Help Debts

Posts Tagged ‘student loan’

We have a 2004 X3 with ~31K miles. We bought it used with an extended warranty to 100K miles. We owe about K and have another 4 years on the loan. (Pmt 0/month) We are about even on the car as far as trade in goes. We are debt free exept for the car, a student loan and the house and want to start aggressivly adding to a current savings of K for emergency purposes and eventually get to where our paychecks are just for living expenses only, all other things paid off. (My husband and I both have state retirement and other retirement accounts.)
We really would like to have a bigger SUV (plan to have another baby next year), but don’t want to extend paying on a car any longer than we have too.

Any advice would be GREAT!!
Thanks!

I am now on step #2 of Dave Ramsey’s book The Total Money Makeover, and I’m not sure where to start. My wife and I had recently paid off our credit card debt which was up over ,000 and now we are trying to become debt free completely. We paid this off before we started this program, and now the debt that we have left is a Student loan with 6,998.99 owed with a min. of 72 dollars a month. Medical bills with 6,569.30 owed with a min. of 100 a month. Lastly a ridiculous auto loan with 15,569.20 owed at a min. of 353.30 a month. My concerns are that with starting with the smallest debt which is the medical loan is that It doesn’t look like the medical bills will ever stop piling up so how will I pay that off. We already have a scheduled surgery for my daughter coming up which is going to add to that, and my wife is dealing with a kidney disease that is going to keep adding up the bills also. We had also discussed selling the car to try and lower that debt, but we owe about double than the car is worth so that scenario really isn’t going to work. Does anyone have any suggestions for what to do. We are a family of four that barely brings home 40,000 a year. I really want to be able to get to the next steps in the book,but at this current stage I don’t see how It can happen in the next couple of years. Thank you so much!

hi, i need help from someone in the financial/banking indstry to help answer my question. i live in NYC and i NEED a car. i dont WANT a car but NEED one for my sons occasional emergency issues and to get around the city since trains/buses are hard for him. my credit after i got ILL went downward to my current score of 563 because of my inability to pay off my student loan since i could not work or anything but DOE has discharged that debt. i rent a home and rely only on MINE and MY SONS SSD income that reaches a total of ,380 a month altogether.

the car im looking for doesnt HAVE to be a top of the line vehicle/ im looking for ANY sedan/minivan from years 1990-1999. i was wondering if it would be at all POSSIBLE to finance a car from a dealer? if you work in the industry how would your dealer handle my situation? answers greatly appreciated!

I’ve had a credit card which I paid last year , a student loan that I got out of collections 6 months ago and had a car loan that went to collections which is also paid as of last week. How long till my credit starts getting better? I can’t get credit on anything now and wondering how long it takes to start to clear up?

I was the typical college kid with credit card debt. I fell behind, and eventually it all went to collections, which wrecked my perfect credit. I recently inherited money, and paid off my collection debt, leaving my car loan and Student Loan, but I want to buy a house this time next year, and perhaps buy a newer car at a better APR. I make a good salary for 25 yr old. What can I do to raise my credit score now to prepare myself? Should I get another credit card, and if so what is a good credit card to open? I feel like I have a scarlet letter on my chest!!

I need advice on which cards to keep and which to close In total I have 7 Credit Cards I know for sure I want to close two of them out but would also like to know if I should do anything to the others

I have the following Cards,
Bank of America Platinum Plus, using of 2,300, opened 06/07
Sears (Blue), using 0 of ,100, opened 12/07
HSBC, 0 of 0, opened 03/08
Capital One, 0 of 0, opened 03/08
Sears MasterCard, 0 of ,000, opened 07/08
Target, 0 of 0, opened 09/08
Sam’s Club Personal Credit, of 0, opened 11/08

I also have a student loan out that deferred for ,000

I plan to close out HSBC ( they wanted to charge for a credit line increase of 0 they also have an annual fee and I think the most they will do is cut it in half) and Target because of their low credit limit and I really don’t shop at Target, just used it to get a 10% discount on some present for my mom. I don’t want to close out sears (blue) because I bought a TV on it and its interest deferred until august (I should have it paid of by april). Capital one is interest free for a year which is about to end, think I could get them to give me a good credit rate?

Do you have any suggestions for me I don’t want to open any more credit cards any time soon.
My credit score is a bit out of whack, credit companies Always report to the credit agencies when I have a high balance with them, which I think is unfair, hopefully I get lucky this upcomming report. Suggestions with that as well would be appreciated. Thank You very much for your suggestion.

P.S. I use Bank of America Privacy Assist to check my credit report it updates every 3 months. I still have money over from my student loan (I was going to use for a down payment on a car) should I use that money to pay off all the debt or should I continue doing it the way I am now, I made a budget off all my credit cards and I should have every thing paid off by february, except the sears card.

Here is the situation:

College "A" – 2003 – 1 semester I did all the paperwork to receive a subsized and an unsubsized loan, based on full-time status. My mother was suffering from terminal cancer and at the time it was impossible to attend school full-time. So, I withdrew from 2 courses after the free drop-add period but I was still billed for the classes. The college cancelled the unsubsidized loan and returned it to the lender. The college tried to collect on the debt and filed a judgment against me. Garnishment of my bank account, etc.
Total = 00

College "B" – 2006 – 1 semester I was registered full-time. But due to family issues, I was going back and forth from Europe. I wasn’t able to attend, nor was I able to withdraw in time. Therefore, I received incomplete grades. This affected my student loan eligibility and the college cancelled my student loans, both subsidized and unsubsidized. The college is still trying to collect on this debt, but hasn’t sent it to collections yet. Total = 00

In June 2007, I filed Ch 7 BK pro se, and it was discharged in Oct. 2007.

College A accepted the discharge of the debt and I owe them nothing. They stopped their attempts to collect the debt with their attorney. I was able to apply for new student loans and currently enrolled. Case closed!

College B is saying the debt is not dischargeable. I’ve been fighting this with them for a year now. Today, they are saying that they researched this issue with AES (American Education Services), who was the guarantor, and that whomever they spoke to at AES says this debt is not dischargeable.
However, I called AES myself and told them about the situation. Since the loans were cancelled and the money returned to the lender/guarantor, I didn’t owe anything. They didn’t understand why this college would even need to contact them for answers, since this debt is now between me and the college and no longer involves AES.

What I don’t understand is why College A would accept the discharge, but College B will not??? I didn’t receive any educational benefits with either college, since I wasn’t able to attend the classes.
Since I did my bk pro se, I doubt any lawyer will help me fight this!

Is there anyone out there who has any similar experiences or legal advice?
How much would it cost to fight it?
I am desperate! I want to take care of this before they send it to collections and it goes on my credit report, or they file a judgment against me!!

Thanks!!!
Both college names were listed in my bankruptcy.

My friend was asking me last night over a very emotional phone call how she could consolidate her debts before she gets married in August of 2009 and before her OSAP payments start in June 2009. I didn’t know what to tell her so I figured I would ask on here.

The debt I think is around 000.00 not including the student loan. She doesnt have good credit at all since shes had these debts for about 5 years with no payments.

I attended college for a year and a half, then withdrew. Because of my withdrawal, my financial aid package was adjusted and I now owe over 00. In order to transfer to another school as I wish to, I have to pay off the 00. Is there a student loan I can take out to cover existing debts at one college with the intent to transfer to another?

That’s the big question. We’ve been dating for almost 18 months. Currently on a long distance relationship (450km apart). She has an average of CAD 45,000 in debt (student loan, car loan). And she is pretty much living pay check after pay check. Has no money do to anything else. But she has a nice provincial job.
I have zero debt, around CAD20,000 in savings, a federal job and I am planing to save around CAD12,000 per year in the next two years for a down payment in a house.
At the current pace, it would take her an average of 3 years (if not more) to be debt free. Then she would be able to start saving money.
Should I pursue this relationship or should I find someone who is in the same page financially? We’ve been talking about moving in together in the same city I live, but this means a lot of sacrifices. We can’t even go to a concert because she has no money left. And it will always be like that. So no house before 2013 (or 2014) best case scenario.
I really need some serious advice. Thanks!