Credit Card Debt Loan

I have $38000 credit card loan. It is hard to manage all of them.
They are high interest rate. Is there any personal loan out there
which will be lower interest rate and I can pay one creditor....
I have good job but this credit card killing me.
I don't have any house. I also do not want to file bankruptcy or consolidation.
I work for the city and my salary is over 75 in the w2

No one would offer you a lower rate except a credit union. And they seldom loan to pay off a credit card.
At www.LOANIO.com you would pay at least 14%. Prosper.com and Zopa.com are no longer lending..

2008-12-20 17:20:40 by mdhislam

With universities charging upwards of $50000 for a year of tuition—without taking into consideration room, board, books and more—is it worth the ...

Hi.
Well the thing is pretty simple, i used to work one summer in us 5 years ago, opened couple credit cards and unsecured loan. i have not payed them back, and now i am willing to go to us to study. Could this debt from past be a reason for us officials nat to issue a student visa to me? Or they have nothing to do with someones finances?

Debt management programs helps people get out of debt faster. What it does it modifies the terms of any of your existing debt and lowers your principal balance as well as your monthly payments. I know a great company that can do this. They settle debt at 55 cents on the dollar. Send me an email for more info on the company to debtrelief@rocketmail.com

2009-09-27 19:10:26 by Luke K

Price: $9.95

I currently owe $45,000 in student loans and I am having a hard time paying them off. The loans are private (sallie mae) and I am not elligible for consolidating them via federal loans since I am not a US citizen. I was not able to get a visa so I had to leave the US. I live in Europe now.

I understand that declaring bankruptcy would not cancel out the student loans, but I have read that bankruptcy could cancel out credit card debt. I have a good credit score (790), so given some time, with an even higher credit score, I may be able to transfer my loans to a few credit cards.

What are the laws regarding credit card debt and bankruptcy? What difference does it make that I am not a US citizen and do not live in the US?

I would strongly advise you not to go that way. You will carry that mark against you for life. Talk to your student loan creditors and tell them that you are doing it really tough. Most will understand and help you come to a better arrangement that's suitable to you both. I have been in a similar position to you and I worked out a solution with my creditors. Maybe you could talk to a financial adviser who could show you various options. Good Luck.

2007-04-16 09:04:53 by migueljuan

Price: $4.99

I have about $10,000 in credit debt on 3 credit cards. I don't know much about loans so can you walk me through the process? Would I be better off just paying the loan? How does this work?


Any advice is appreciated. Thank you

Debt consolidation loans, when available, often have interest rates that are dramatically lower than credit card interest rates (This is in large part due to the fact that credit card interest rates tend to be so high). If you're going to bother with a consolidation loan, the interest rate should be lower than the credit card rates.

The process--and what may be available--however, varies from bank to bank. You should talk to your bank, and see what options they have. Some offer loans. Some offer a new, low-interest credit card for balance transferal. The latter can be sticky. Some banks even have investment and/or credit counselors, which can be a good resource. If you have more than one bank, shop around. If you happen to belong to a credit union, they often have better deals for their members than regular banks have for their customers.

It's important to note that when people clear their credit card balances, they often use that as an excuse to spend more--even if they still have the debt. If you avoid this pitfall, a debt consolidation loan with a lower interest rate can be a good way to save money in the long run. Obviously, you should be paying more than the minimum due if at all possible (regardless of whether you're paying to the cards or paying off a loan to consolidate the debt), as much of that goes towards interest.

If you don't end up going the loan route, you can (should) try asking the credit card companies to lower the interest rate on your cards. They may say no, but it never hurts to ask, and can save a considerable amount where large amounts of debt are concerned.

Another tip to reduce debt is to pay more frequently--even if you're ultimately paying the same amount. Credit card interest compounds daily, so paying half of your payment at the middle of the month and half at the end of the month is more effective than paying the entire thing at the end of the month. If you can pay 1/4 (or more) weekly, that's even better.

There are also a number of tricks to paying down balances. Paying down the highest interest debt is the most optimal, but if you need a psychological boost, you can use the debt-snowball method, which puts extra money towards the smallest balance first, paying off an entire card as early as possible, and then rolling the money you were paying towards that card into the next smallest balance. This, while not optimal, can be very helpful for people who feel mired in debt.

2009-08-31 14:47:10 by ::<3::

I have credit card/personal loan debts and looking for a lumpsum settlement. Due to financial problems I'm not paid last few EMIs.

It took time to incur all that debt.....it's going to take time to get out of it.

There is no easy answer.
And unless you win the lottery....no lump sum either.

I highly recommend you read Dave Ramsey's books. He outlines a program to get your debts paid off. He calls them the Baby Steps.

He also has a radio program and web site.

His strategy for paying off debt is not fun. It takes hard work and sacrifice. But you incurred the debt. You signed your name that you would be responsible for that debt. You have to honor your obligations and pay it off. But it helps to have a strategy for how you are going to do it.

2008-06-08 01:46:30 by Sunil P