Question: Dear Steve, At the advertised numbers, I would have consolidated. What happened to the advertised rate? Bill Answer: Dear Bill, I’m not sure exactly what advertised numbers you are speaking about, and normally a question so short would not make it to the site to be answered, but you bring up a great teachable … Read more
Question: Dear Steve, I have a good credit score and am paying $4k a month in credit card payments (paying over the required amount), with exceedingly high-interest rates. It makes sense to consolidate all cc debt with a lower interest rate. Right now, I feel like I’m throwing away money. I get mailers every day … Read more
Question: Dear Steve, Owner/Operator worked in Montana/ North Dakota in the oil fields. When everything got shut down last year it took all I could do to move back home to Nebraska. Had to park my truck and worked on a farm for my cousin and hauled mail to Omaha, Lincoln and Denver part time … Read more
Question: Dear Steve, It all started when I had to have my roof repaired and also needed a new air conditioner for my house. I am semi-retired and have a 1600. monthly social security fixed income. I kept receiving 0% offers, and just went to the bank to deposit them. I really don’t know where … Read more
Question: Dear Steve, We make a sizable income ($350,000) and we have just paid off most of our vehicles (only one left); problem is cc debt–the peer to peer sounds great, but $35,000 is not going to cut it–need more like $100,000 to truly pay down the debt. Contrary to how it sounds, we are … Read more
Question: Dear Steve, I have $40,000 in credit card debt (accruing interest) and about $10,000 currently on 0% promotions. Tried to consolidate via credit union or with Wells Fargo a several times over the years. They all declined for the same reason: too many high balances on revolving debt. Well duh, that is the point … Read more
Prosper, the online debt consolidation loan lender, recently conducted a pool about how people are looking at or dealing with debt. The big fact that jumped out at me was that nearly 3 percent of respondents would be willing to cut off an arm or a leg to have their debt eliminated. Seriously? Here are … Read more
“Dear Steve, Im 49 years old, gross about $60,000 a year, im about $27,000 in debt want and need to get this debt off my back , tried doing it myself, writing creditors, obtaining credit reports, etc, some of my debt is so old its been sold off to other companies over and over. I’m … Read more
“Dear Steve, $27k in revolving debt and another $20k already set up in low rate repayment schedule loans of debt. I just want to know if any banks offer consolidation loans for a 7 year term where they take our cards, issue payoff checks and cut our cards, anymore? I so want to pay off … Read more
“Dear Steve, I applied at LendingClub.com and at Prosper.com for a loan to consolidate my debt. I was declined at both. I have been trying to find a solution to consolidate my debt and eventually eliminate it. No places simply want to provide a loan. My credit score is good (690 ish). What other steps … Read more
“Dear Steve, Thank you so much for a great site of information! I just contacted LendingClub.com and was approved for a little under $30k. I was looking for the full amount of $35k, but no need to get greedy, right? LoL very thankful for what was offered. My question involves what exactly to pay off. … Read more
“Dear Steve, Ex husband co-signed on private student loan while married. There is a balance of approx. 11,000 left on the loan amount. My credit is bad, and I have not been able to refinance in my own name, of course Wells Fargo will not do it because it is better to have 2 signers … Read more
You hear a lot of rubbish online about getting a debt consolidation loan and a lot of just flat out incorrect information. It’s time to put an end to that and help you get the facts so you can make a good educated decision. If You Don’t Want to Read All of This Post: One … Read more
“Dear Steve, We have a lot of credit card debt due to losing almost a year in income to care for an ill family member. We own our home. We have zero late(s) on anything – all debts current and paid on time. We short saled a home in 2009 and do not owe a … Read more
“Dear Steve, Currently have 4 outstanding debts: Student Loan: $6,549.39 3.5% – making monthly payments of $827.25 Student Loan: $3,721.63 3.0% – making monthly payments of $537.00 Student Loan: $2,749.59 4.875% – making monthly payments of $399.23 Car Note: $5,136.86 1.9% – making monthly payments of $647.85 Current savings: $39,000…~$55,000 in 401k No other credit … Read more