Ask The Get Out of Debt Experts

I Have Two MBAs But Need Financial Help. – Oshana


“Dear Steve,

Steve…thank you for your fine work…..I am a management consultant and writer with 2 MBA’s and wonderful experience afer 17 years in the field. I am now charging more for my services and getting it, am becoming recognized in my field and
have a book. I have 2 questions:

1. Have a credit card and line of credit from Wells Fargo….no bank will consolidate them for me so that my balances are 40 or 50% instead of 80 or 85% of each of them…..I do not want to go the traditional debt consolitaton route because I believe some institution will do this for me……is there a bank or lending institution I can talk to…..before they run my credit?

2. How many points does my credit score go down every time my credit is run or is it a certain number of times per month?

3. Would you be willing to look at my credit report and read it for me? for a fee f course

4. I also have a student loan – $140,000 now and start repayment in January at $650 a month…..would this company be willing to forgive some of it as I have been working with grassroots organizations who could not pay a normal
consulting fee….this request falls outside of the Federal Government Guidelines….but I feel it is reasonable…


Dear Oshana,

1. Ha Ha Ha. No. The best best would be to use the online credit card finder tool to locate a bank that would best fit what you are looking for.

2. I don’t know. That would be part of the super secret formula that is not shared with the public.

3. You don’t need to pay me to do that. Just order a copy of this consolidated credit report with the credit score option. It is the consolidated credit report that I use and it will show you everything, give you all the contact information you need and the credit score will explain why your is what it is.

4. Nice try, but no. There are only a few reasons why a student loan will be reduced or discharged. See the Loan Cancellation & Discharge page on the Federal Student Aid site. Unfortunately the student loan lenders feel that if you have been under-earning to service their loan, that’s your own fault.

There are some groups that will offer some loan forgiveness for your help and participation.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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