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 Posted: Mon Aug 14, 2006 12:27 pm Subject: I fell into debt while I was in college like so many others |
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I am 26 years old, I fell into debt while I was in college like so many others. Not only do I owe alot of student loans but I also accumlated credit card debt! I'm looking to get this stuff cleared up so when I go to purchase a new car or home I dont run into many issues.
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tino_wallace
Joined: 14 Aug 2006
Posts: 2
Debtcc Points: 111
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| Posted: Mon Aug 14, 2006 12:29 pm Subject: |
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Tino..welcome to the forums. Now that you're registered someone will contact you to go over some options regarding debt consolidation.
Good for you for reaching out for help.
_________________
~A journey of a thousand miles begins with a cash advance~
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erzeke1
Moderator
Joined: 26 Mar 2006
Posts: 1179
Debtcc Points: 16273
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| Posted: Mon Aug 14, 2006 12:53 pm Subject: |
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Hi
Are your student loans private or federal student loans? Like any other debt, student loans can also influence your credit and future decisions.
The best ways to reduce these debt burdens are
- Concentrate in reducing the principal balance. There are some types of loans that can be forgiven by service or other higher education. Review the type of student loan program you have.
- The monthly payment needs to be kept lower. Since the debt burden is measured by comparing your loan payment to your income, a reduction in the monthly payment helps in evaluating your credit.
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andyyoung
Joined: 05 Jun 2006
Posts: 473
Debtcc Points: 6485
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