[fundie]

Hi! I currently have a mix between credit card debt and student loans from undergraduate and grad school. It totals about $30,000. Would it be good to consolidate all of it into one loan, or should I keep the student loans and credit card stuff separate? Also, if I did get a debt consolidation and then closed all of the other accounts, would I be more likely to get a mortgage loan, or less likely...assuming I have good credit, which I do.
Moll-

You may want consider consolidating your student loans separately from your credit card loans so that you can take advantage of special student loan consolidation interest rates set by the Federal government. The savings generated by student loan consolidation may turn up the funds needed to help pay off your credit card debt.

There are a number of student loan consolidation firms out there; you may want to check out link deleted, please see the guidelines because they offer personal consultants who can explain your options to you.

[Jason]

Hi fundie,

Welcome to the debt consolidation care forum. Both credit card debts and student loan fall under unsecured loans where debt consolidation is applicable. With bulk debt amount like yours I recommend you to go for debt consolidation. It is more advisable not to separate your debt amounts while payment, for debt consolidation accumulates all your debts and makes it into a single debt amount. You don't have to pay to multiple creditors but your payment will be restructured into one easy monthly installment to a single payment. Assuming you have got good credits you are more likely to get mortgage loans although with some restrictions. All the best.

Regards,

Jason