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Debt Settlement for Private Student Loans


by Staff Writer on September 14, 2017  0 Comment

Debt Settlement for Private Student Loans
Settling private student loans is possible, but it may not be as easy or as quick as you may expect. Despite the difficulty, it is always a good idea to try and settle private student loans because they cannot be settled via bankruptcy. A settlement will probably be your only option if you are having trouble paying off your student loan. What is Debt Settlement? Debt settlement means that you work with the lender to find a way to get the loan paid off. Lenders prefer debt settlement because it means less cost, less hassle and less paperwork for them. Most private student loans involve settlements where the payment of a lump sum that amounts to less than the original ...

What Are All Your Debt Relief Options?


by Staff Writer on September 08, 2017  0 Comment

What Are All Your Debt Relief Options?
Debt seems to be the one thing that Americans have in common. Almost everybody, from the working poor to multi-billionaires, has accumulated a staggering amount of debt they need to pay off. But people often struggle to do so because they are unaware of all the debt relief options available to them. Americans have amassed $1.3 trillion in student debt alone, with 44.7 million people owing an average of $37,172, according to the Federal Reserve. But this is just the tip of the iceberg; U.S. households owe $1 trillion on credit-card and auto loans. Not surprisingly the average American household owes $132,529 in debt, an amount that has increased by 11% (or $14,578.16 per household) over the past 10 years. ...

How to Stay Ahead of Your Debt Obligations


by Staff Writer on September 06, 2017  0 Comment

How to Stay Ahead of Your Debt Obligations
One of the biggest threats to average Americans’ economic future is uncontrollable debt obligations. The average American household owes close to $140,000 in debt, U.S. consumers are now $3 trillion in debt, and $1 trillion of those obligations consist of credit card bills. Sadly, many frugal and responsible people find themselves overwhelmed with debt obligations. Often because of circumstances beyond their control such as job loss, pay cuts, bad health, business failure, divorce and just plain bad luck. Many of these people end up using 25% or more of their income to pay off debt. This often leaves them with little money to pay for essentials like food, and no savings to deal with emergency expenses such as car repairs. ...

Public Student Loan Forgiveness


by Staff Writer on August 16, 2017  0 Comment

Public Student Loan Forgiveness
Believe it or not, there is a way that you can erase your student loan debt by serving your country and your community. Public Student Loan Forgiveness programs (or PSLFs) allow individuals to get out of some student loans by working for the government or certain non-profit organizations. The good news is - you can qualify for PSLFs by working at any local, state or federal government job. The bad news is that not every student loan is covered by the program. You will also have to wait 10 years and make 120 qualifying loan payments to achieve total debt forgiveness, so it is not an immediate solution. But student loan forgiveness programs are still a really good deal for ...

Learn All About Income-Based Repayment Plans for Student Loans


by Staff Writer on January 18, 2017  0 Comment

Learn All About Income-Based Repayment Plans for Student Loans
Image via Flickr by LaMenta3 Whether you have one student loan or many, you may be able to take advantage of an income-driven student loan repayment plan for loan management. Income-based repayment plans offer some of the best options for borrowers with relatively low incomes, but these plans aren't for everyone. Find out which borrowers and which loans are eligible for income-based repayment plans and learn how these plans compare with income-driven repayment plans for student loans. What Are Income-Based Repayment Plans for Student Loans? An income-based repayment plan, or IBR for student loans, is one of the many options that the U.S. Department of Education offers. This federal student loan repayment program is designed to make your loans easier ...

The Truth About Debt Reduction Services


by Staff Writer on December 09, 2016  0 Comment

The Truth About Debt Reduction Services
Debt reduction services, also known as debt settlement companies, often seem like a dream come true. Once you meet with them and share your financial struggles, they promise to negotiate with your creditors, consolidate your bills, and help you get out of debt. Many of these companies even promise to make your debts disappear, guaranteeing they can help you settle for 30 - 50 percent of what you owe. Unfortunately, these services aren't always what they seem. As the Consumer Financial Protection Bureau (CFPB) notes, working with a debt reduction service may even leave you deeper in debt than when you started. Debt Reduction Services: 5 Truths to Consider Before you sign up for help with your debts, it's important ...

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