Time For A Student Loan Consolidation Loan? By Jeff Lakie

If you have taken out several student loans then the time to consolidate could be now. There are several great debt consolidation loan programs available to help you pull all of your loans together into one easy to make monthly payment. Stay tuned for some helpful information!

Upon completing college, your first job probably paid little while your expenses have been sky high. It is not unusual for grads to have student debt in the neighborhood of $50-100,000 in school loans. New auto payments, credit cards, and living expenses can jack up your debt levels tremendously. You need help and help is available to you in form of a student loan consolidation loan.

So what is student loan consolidation loan anyway? It is one type of a loan that permits you to take two or more student loans, pay them off, and make one single monthly payment to one lender. Specifically, if you have three loans owed to three separate lenders, you may always feel that all that you are doing is righting out checks, week in and week out. So, why not combine all three payments into one loan?

One more helpful part about a student loan consolidation loan is that you could possibly reduce your interest rate, stretch out your repayment time, and even borrow a small amount of additional money to pay back other creditors including credit card companies.

So, how do you apply for a student loan consolidation loan? Several ways including: searching online, responding to television advertisements, jotting down a number you hear announced over the radio, etc. Top lending companies are continuously advertising their offerings to consumers and are highly desirous for your business. Simply comparison shop to find the consolidation loan plan that is right for you.

Before applying for a consolidation loan, there are some things for you to keep in mind:

1. Loan Amount. Will the loan you secure enable you to pay off all of your student debt or only a portion of what you owe? Your lender will likely want to see a proof of income before extending a favorable loan rate to you. Expect copies of your credit reports to be pulled by the lender as well.

2. Loan Rate. Will the loan rate be for a fixed amount or will it be an adjustable rate loan? Consider locking in for a long term fixed rate consolidation loan to ensure your monthly payments remain fixed.

3. Loan Term. Are you able to stand paying back your student loan consolidation loan for 15 or 20 years? If you pay the loan back early will there be any prepayment penalties? What if you were to default on your loan?

Your options to obtain a student loan consolidation loan has never been better so take full advantage of one additional way for you to consolidate your debt through a student loan consolidation loan.

Jeff is the owner of Homeowner Loan Guide one of the Uk’s leading secured loan quote providers. If you are searching for that low rate on a secured loan then visit our site today for a free no obligation quote. We provide great rates that compate to leading lenders like Hallifax

What Is The Other Side Of The Debt Equation By Alan Jenks

This article is about the other half of the debt equation. Okay you have managed to tame the debt monster and you are doing well. The credit cards are paid off and your home mortgage is getting smaller. Finally there is some money for investing. Where do you put it? Most likely you know someone in the ‘financial service industry’. First question, whom are they servicing?

They are normally not serving you! The term financial service includes, banks, trust, insurance, credit unions, investment houses and likely a few others. These companies each provide vastly different services, the one common denominator is they all earn millions for their shareholders. Are you a shareholder?

If you go on to the stock market and buy a share of that company, then you are a shareholder. If you purchase a product from one of these companies’s then you are NOT a shareholder. You are a customer and their mandate is to make money for the people that own the company (the shareholders) not the customers. Don’t get me wrong it is better for them if they make you some money also but you are definitely not first their first concern.

This is a very important thing to understand as some of the products they sell you have a slim chance of ever making you good money. They have a huge chance of making the company money. Is this illegal, no? It is the same as if you go to the grocery store and buy ice cream. The grocery store’s main purpose in life is to make the owner of the store a profit. Second is to provide a good enough service that you keep coming back for more ice cream. You take the ice cream home, it is in a nice container and tastes pretty good. You get a good feeling from it and think the grocery store is okay.

Well you go into an investment company and they sell you an investment. You get a really nice folder with all kinds of big numbers. You get a contract with all kinds of big words. The salesman, AKA your “financial planner” says it’s all going to be great, you are doing a super thing for your family. Just for fun ask that person their net worth.

You go home with all this paper work and think, “wow that was pretty good. I am on my way to the good life.” You put the paper work into a drawer and never look at it again.

What happens when the value of your investments go down? Normally the “financial planner” gives you a call and says, “don’t panic now is a good buying time.” Heck, why did they tell you to buy before then if this is now the time to buy? It is kind of a catch 22. You will likely need to use a “financial planner” to buy some of your investments, if you do it is up to you to know what the heck is going on. It is your money and you are the only one responsible for its value.

This is one reason I suggest people get to know one type of investment and become well informed about it. Then invest in that market segment, by whatever means makes the most sense to you. I know a person who is wealthy selling old china teacups on-line. Pick something you want to know a lot about and make sure there is a way to make money there and go to it.

Make sure you are your own best shareholder. Do your own research and make your investment decisions based on it. That way you’ll know you will be the number one customer. Be smart to be wealthy.

Did you find those tips on debt management useful? You can learn a lot more about how debt management can help you reduce debt here.

Prepare Yourself For Debt Consolidation! By Mary Wise

Whenever you loose control over your finances and your debt keeps accumulating, consolidating your debt is an excellent solution. However, you should know that from the moment you join a debt consolidation program, your finances and credit situation are affected and many things need to be taken into account so you are ready and prepared for what may come.

Get all the Finance you Need Prior to Consolidating

After joining a debt consolidation program you won’t be able to get approved for a loan or credit card for some time. So, if you think you’ll need finance during the time the consolidation program is being carried out, try to get approved for a loan or credit card before joining the debt consolidation program.

If you apply for a credit card, don’t use it till you join the debt consolidation program. Since the credit card balance will be null, that credit card won’t be part of the debt to be consolidated and thus you’ll be able to use it freely for any emergency. Bear in mind though, that the idea is to control your expenses so you can recover from your financial situation and this should be discussed with your consolidation agent.

Concentrate on Repaying Non-Negotiable Debt

Debt consolidation is more efficient when a greater proportion of negotiable debt has to be consolidated. Too much secure debt will turn debt consolidation into a bad business as secure loan lenders are usually not willing to change the loan terms because they always can claim their money by resorting to legal actions against the property guaranteeing the loan.

So, if you can’t pay all of your monthly payments, focus on your secured debt. Concentrate on repaying your mortgage, home equity loans and any other secure debt you may have. If you have to choose between repaying secured and unsecured debt, always choose making your payments towards the secured loans. This way you’ll reduce the amount of non-negotiable debt and the debt consolidation program will turn out to be more successful.

Start Budgeting

It is always smart to think ahead. When joining a consolidation program all your finances will be analyzed and you’ll have to inform your debt, your assets, your income, your expenses, etc. All this information is extremely necessary as it will be used to design the best program towards reducing your debt while leaving your lifestyle unaltered as far as possible.

However, if you are really committed to reducing your debt and solving your credit problems as soon as possible, you should start budgeting before even joining the debt consolidation program. Making a budget will help you take control of your finances and see why you can’t meet your monthly payments. Sometimes, you’ll learn that some things you didn’t think were so expensive, really affect your income/spending ratio leaving small space for repaying debt. Always remember that knowledge is power, and knowing how and where you spend will give you the power to control your spending.

Mary Wise, a professional consultant at Badcreditloanservices.com with twenty years in the financial field, helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers from falling into the hands of fraudulent lenders. At http://www.badcreditloanswizard.com/article/ you will find more useful tips and interesting articles on this subject and other financial related topics.

Personal Loan to Consolidate Bills By Tim Grimsley

Using a personal loan to consolidate your bills and credit cards can be an effective way to securing a better financial future. We all have bills, they are a common fact of life today. The difference is in the way we handle those debts.

There are two types of debt, one type is personal spending this type of debt is bad. This would include things like clothes and jewelry that are bought on credit. This type of debt needs to be held to a strict minimum. There should be precious few reasons why anyone should need to use credit to purchase these items.

The other type of debt is what I call good debt. This debt is for things that are necessary such as a home and a vehicle to get you to work. This category also includes debt that accumulated for reasons that will bring in an income such as purchasing a rental property.

When accumulating debt, you should always have a plan to consolidate that debt at some point. Some people use a home equity loan to consolidate and this is a good choice. There are extra benefits that come with using your equity too.

For others this may not be an option, this is where a personal loan may need to be used. Researching options for consolidating debt with a personal loan should conducted carefully. You need to consider if the personal loan terms are really better than you have in your current situation. Generally you should not be looking at longer terms than what your current loans have. You should never consider a higher interest rate.

Sometimes people make the mistake of borrowing more money than is needed to consolidate their current loans. This is a common ploy of lenders to attract you as a customer. This is a hard temptation to turn down, but in the end you will be much better off... Continue

Consolidate Your Bills Today By Tim Grimsley

Anyone who is facing the overwhelming burden of debt and bill collectors calling daily can appreciate the relief that can come from consolidating your bills. If you feel that you simply cannot keep up with your bill payments each month then you are a candidate for debt consolidation.

When someone mentions debt consolidation people often think of a situation that involves a lot of complicated paperwork and hassle. But does not have to be the case at all. There are many lenders now offering a smooth and painless solution to your debt problems.

Obviously if you are in need of debt consolidation, your monthly household budget is stretched pretty thin. When you are dealing with a stressful situation like this many people will choose not to deal with it. Hoping that someday a windfall of money will come along to help. We may take a stance that one day it will get better if I get a raise or a new job. You feel that then you will be able to catch up.

Unfortunately this type of thinking vary rarely is the answer. The truth is that the average American gets a pay raise equivalent to a 3.5% increase each year. That is $3.50 for each $100.00 you currently make. For most of us with a tight budget an extra $3.50 will not do much for getting us out of debt.

Instead of looking forward to the day when we make enough money to pay our way out of debt, we must find a way out right now. Getting out of debt using our current situation will put us in a much stronger position to take advantage of those raises when they do come along.

Debt consolidation is the only reasonable way to do this and by working with a reputable company you can also learn valuable ways to make your income go further and increase your standard of living. When considering a debt consolidation loan you should make your mind up to do plenty of research and find a company that can offer true help. This will be in the form of loans and education. When you mention money management education to most people they get defensive, as if it is an insult. Think about this, the richest people on earth employ money managers to help manage their money wisely. If they can use the help I'm pretty sure we all need it...Continue

DEBT CONSOLIDATION: DO IT YOURSELF by Mary Wise

However, if your situation is not so complicated, you can carry out your own debt consolidation process without too many hassles. If you don’t have too many creditors and different types of loans and credit cards, solving your debt problems doesn’t have to be so complicated. You can save the money a debt consolidation company will charge you and solve your financial difficulties by yourself.

Debt Negotiation

The main part of a debt consolidation program is debt negotiation. What you need to do is to contact the lenders and try to speak with someone who has the ability to decide over your debt. This can usually be done with personnel from administrative or legal departments. Customer Service won’t help you on this matter; just ask them to put you through to the proper department.

Once you’ve contacted the lender, you need to make things clear. You have to state that you are unable to repay your debt under the current terms and that you need to have your debt rescheduled under more advantageous terms in order for them to get their money back. Don’t mean it as a menace, you need to sound concerned, they need to understand that you want to pay but you can’t and that if they are flexible enough they’ll be able to recover their money without entering long and costly legal processes.

Unless the lender holds a real estate guarantee, chances are that they will tailor a new loan with favorable terms so you can retake your monthly payments without sacrifices. If you are convincing enough you can get all the debt created due to punitive fees and interests eliminated and a new loan reschedule to suit your needs.

Get a Loan for Consolidating

Another thing you can do, either instead or after debt negotiation is to obtain a loan for a considerable amount repayable over a long period of time so you can use the money to cancel outstanding debt and end up with a single monthly payment with a lower interest rate. By doing so you’ll get the same results as a debt consolidation company handling your payments. You’ll have a single monthly installment to worry about and you’ll also save thousands of dollars on interests over the whole life of the loan.

Doing this after debt negotiation is better, since you’ll already have reduced your debt substantially after debt negotiation. If you add to that reduction the money you save by exchanging your current debt with a single debt consolidation loan, you’ll really improve your financial situation and you’ll be able to recover from bad credit within a couple of months.

In order to get approved for such a loan you’ll need to hold some equity on your home. This kind of loan can only be obtained by applying for a secured loan. A home loan, a cash out refinance loan and a home equity loan are the options suggested by most debt advisors.

Mary Wise, a professional consultant at Badcreditloanservices.com with twenty years in the financial field, helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers from falling into the hands of fraudulent lenders. At http://www.badcreditfinancialexperts.com/article/ you will find more useful tips and interesting articles on this subject and other financial related topics.

Article Source: http://EzineArticles.com/?expert=Mary_Wise

If you are one of those individuals who's suddenly looked up and realized that your outgoing income is higher than your incoming income, then you've probably also realized that you need some assistance to put this situation in reverse. I was once in that position, and now that I've discovered how to become financially free I've never looked back. I want others to be in the same position of getting out of debt and never looking back. I am here to help others help themselves to get out of debt and to maintain a state of financial freedom through tips and advice from experts as well as myself. I have dedicated myself to providing useful information to those victims and their families to help them break the stronghold of debt. There are numerous ways of going about this, such as debt consolidation, the proper use of credit cards (yes there is a proper way to use them to your advantage), and wise consumer decisions. This blog will be updated consistently with posts, articles, tips, and advice on the subjects of debt, debt consolidation, credit card info, and ways of boosting your income for a financially free lifestyle.