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Showing results for tags 'Consolidation'.
Found 4 results
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Hello! I have approximately $16,000 of student loan debt spread over five loans (all Sallie Mae). My credit report shows that I have 6 installment loans (5 SL's plus one auto loan). This is considered a negative according to my credit score tracker that I have with my Discover card. So my question is, will consolidating the student loans raise my credit score by decreasing the amount of open installment loans? I do not want to extend the loan length nor do I want to lower my total monthly payments, I'm strictly trying to raise my credit score as I'm preparing to buy a house next year. Thanks in advance for any opinions/advice!
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Need advice badly CB! I have a student loan from NYHESC which has been in default for the past few years. I tried to set up payment arrangements, but NYHESC is sending me to the collection agency GC Services, they agreed to take $55 a month, but they want to put me on the William D Ford Program for 4 consecutive months, which I believe is a consolidation loan. GC Services claim they will restore my credit and remove the offset with the IRS. Currently, I am unemployed, so they are also asking for my husband's last 3 pay stubs which I find to be absurd. Should I ask for the rehabilitation program or hardship program and insist I can only pay $55 a month OR just accept what they are offering me, also why should I send my husbands his pay stubs? This is all new to me but I want to clear it up so they do not continue to take my husbands tax returns. Any advice will be appreciated. Thanks!
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I'm currently sitting on about 20K of credit card debt and trying to purchase a home. My current scores are sitting around the 675/680 marker and my mortgage officer indicated lowering my exposure on some cards would likely put me in a better position for a conventional loan (vs. FHA with higher PMI). I was curious if others here have achieved this via taking a personal loan to reduce/payoff balances on revolving and shift to installment loan. I have already burned the IQ and was approved for a consolidation loan with NFCU. Now, I am debating whether this will help/hurt me. My hubby had a period of unemployment so we ended up in a position where we were "living" off of some cards, this situation has improved and now I'm looking for the best way to freeze it all without hurting my ability to get a mortgage. Exposure on these cards range from 94% - 15% so would like your thoughts on what the target exposure amounts would be as well to get the highest score benefits. Thank you for your time and consideration, I always find this board to be most helpful with these type of questions!
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I'm new to this sight, and I love what it has to offer. I'm a debt collector and work for one of the largest collection agencies in the country. I want to extend my knowledge, insight, and advice to anybody out there that has collection issues. Whether you're being harrassed and want to know your rights, or what to do with an account that may be affecting your credit I am here to help. AND...I can give you all of the tips and tricks on how to get a debt collector to settle for a fraction of what you owe. Please feel free to post to this thread and I will respond to you in a timely manner. Take care!
