Debt Consolidation Assistance » Student debt consolidation loans http://debtconsolidationassistanceonline.com Debt management solutions, get rid of debt the easy way Wed, 08 Feb 2012 12:18:54 +0000 en hourly 1 http://wordpress.org/?v=3.1.3 Is It Time for a Debt Consolidation? http://debtconsolidationassistanceonline.com/is-it-time-for-a-debt-consolidation/ http://debtconsolidationassistanceonline.com/is-it-time-for-a-debt-consolidation/#comments Fri, 28 Oct 2011 03:50:04 +0000 Debt Consolidation http://debtconsolidationassistanceonline.com/is-it-time-for-a-debt-consolidation/ If you have a large amount of debt, especially high interest credit card debt, debt consolidation is an excellent way to get out from under this burden. For most of us, finding yourself in debt is painful fact of life as we know it, but it doesn’t need to remain in control of the rest of your life.

]]> http://debtconsolidationassistanceonline.com/is-it-time-for-a-debt-consolidation/feed/ 0 Bad Credit and Student Loan Consolidation Can Be Good Partners http://debtconsolidationassistanceonline.com/bad-credit-and-student-loan-consolidation-can-be-good-partners/ http://debtconsolidationassistanceonline.com/bad-credit-and-student-loan-consolidation-can-be-good-partners/#comments Mon, 03 Oct 2011 22:23:20 +0000 Debt Consolidation http://debtconsolidationassistanceonline.com/bad-credit-and-student-loan-consolidation-can-be-good-partners/ People who have a stack of students loans, all having different due dates, different interest rates, and different payment sizes, look to consolidate all those loans. Will this hurt their credit rating?.

]]> http://debtconsolidationassistanceonline.com/bad-credit-and-student-loan-consolidation-can-be-good-partners/feed/ 0 Why Student Debt Consolidation Loans Might Be the Solution for You http://debtconsolidationassistanceonline.com/why-student-debt-consolidation-loans-might-be-the-solution-for-you/ http://debtconsolidationassistanceonline.com/why-student-debt-consolidation-loans-might-be-the-solution-for-you/#comments Tue, 17 May 2011 21:31:18 +0000 Abel Martin http://debtconsolidationassistanceonline.com/why-student-debt-consolidation-loans-might-be-the-solution-for-you/ Applying for one of the student debt consolidation loans available, may be the answer for you to get the debt help you need. Know how to decide if this is the right action for you to take to ease your financial burden.

]]> http://debtconsolidationassistanceonline.com/why-student-debt-consolidation-loans-might-be-the-solution-for-you/feed/ 0 Most Viewed Articles http://debtconsolidationassistanceonline.com/most-viewed-articles/ http://debtconsolidationassistanceonline.com/most-viewed-articles/#comments Wed, 23 Feb 2011 23:13:16 +0000 Debt Consolidation http://debtconsolidationassistanceonline.com/most-viewed-articles/

http://backend.userland.com/rss092 http://www.debtconsolidationcare.com/rss/most-popular.xml Most Viewed Articles jason@debtconsolidationcare.com Wed, 23 Feb 2011 23:15:59 GMT en-us http://www.debtconsolidationcare.com/steps.html http://www.debtconsolidationcare.com/steps.html Find out how to settle your debts yourself when the debt is held by the creditor or sold off to a collection agency. http://www.debtconsolidationcare.com/elimination.html http://www.debtconsolidationcare.com/elimination.html Check out 6 debt elimination programs – consolidation, credit card debt elimination and others. Avoid 5 major mistakes while you eliminate debt. http://www.debtconsolidationcare.com/validation.html http://www.debtconsolidationcare.com/validation.html Validation of debt can help you stop harassment by collection agencies. Check out the 7 steps in debt validation and know how to use it against the CAs. http://www.debtconsolidationcare.com/signup/ http://www.debtconsolidationcare.com/signup/ signup and get free information on debt consolidation today http://www.debtconsolidationcare.com/procedure.html http://www.debtconsolidationcare.com/procedure.html Check out what happens after you fill out the signup form and request for free debt counseling. http://www.debtconsolidationcare.com/fees.html http://www.debtconsolidationcare.com/fees.html Get debt consultation free of cost and find the right way to resolve your debt problems. The consultant may charge you minimum fees for negotiation. http://www.debtconsolidationcare.com/debt-calculation.html http://www.debtconsolidationcare.com/debt-calculation.html Calculate your debts with debt calculation calculators. http://www.debtconsolidationcare.com/debt-management.html http://www.debtconsolidationcare.com/debt-management.html Debt management plans help to reduce interest rates and monthly payment but you should follow certain tips to get maximum benefit in a debt management plan. http://www.debtconsolidationcare.com/signup/nowmember.html http://www.debtconsolidationcare.com/signup/nowmember.html You are now a member http://www.debtconsolidationcare.com/faq/faq1.html http://www.debtconsolidationcare.com/faq/faq1.html frequently asked questions about debt consolidation

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]]> http://debtconsolidationassistanceonline.com/most-viewed-articles/feed/ 0 What is the best way to consolidate your debt? http://debtconsolidationassistanceonline.com/what-is-the-best-way-to-consolidate-your-debt/ http://debtconsolidationassistanceonline.com/what-is-the-best-way-to-consolidate-your-debt/#comments Sun, 31 Oct 2010 07:39:10 +0000 Debt Consolidation http://debtconsolidationassistanceonline.com/?p=931 Many businesses and individuals use debt as a way to buy things they do not have the money at the time of purchase. Although there are cases where debts can be a tool, usually costs outweigh the benefits of borrowing money. Although most financial experts agree that too much debt is not good for your financial future is disagreement on how best to consolidate your debt. An alternative is simple consolidation through a loan or credit counseling company, while another option is by paying off your debts in a systematic way.

A debt consolidation loan can be a great tool for consolidating your debt if you use it responsibly. Some people fall into the trap of paying off its debt with a loan and fees are back again, which puts them in a worse situation than when they received the loan. You can apply for a secured or an unsecured consolidation loans. A secured loan requires some form of security, such as a car or your house for the loan. If you do not pay back the loan, the bank will take responsibility for your safety. Even if you put your personal property at risk, you usually get a better interest rate for a secured loan. If you apply for an unsecured loan to consolidate your debts, your credit card must be reasonably good or you need a creditworthy co-signer.

You will not be able to borrow as much money with an unsecured loan and your rate will be higher than a secured loan. When considering an unsecured loan, you should really over the figures carefully, as you can increase your monthly payments because of higher interest rates. There are many credit counseling companies that advertise their ability to help you become debt free. Most of these companies are scam and promise things you can do yourself. For example, they promise to negotiate with credit card companies to lower your monthly payment. If you communicate with your credit card company, you will be able to negotiate payments yourself.

Some credit counseling companies have a low monthly payment from you with a promise that they will send money to your aggregator. Many times you find yourself in a worse position because the company kept its promise it has made. It is important to note that working with a credit counseling company shows up your credit record and looks almost as bad as a bankruptcy. These companies will help you consolidate your debts, but not always effective. One of the surest ways to consolidate your debt by paying it off is by increasing your payments.

There are two different orders that you can pay your debts. Pay off your debts in order of interest is the first method. Make the minimum monthly payments on all your payments, but add all the extra money you have available to pay the highest interest rate. When the item is paid off, add that payment amount to the item with the next highest interest rate and keep the procedure until you are debt free.

The second way to consolidate your debt by paying it off is by paying your debts in order of their size. Make the minimum monthly payments on all your payments, but put all your extra money to pay the minimum amount due. Once this is paid off, roll that payment amount to the liability item with the second largest amount. Again, keep the procedure until you are debt free.

If you want to use the interest or the total amount owed to consolidate your debt by paying off it’s a personal choice. Under the method, the interest rate may take longer if you are not dedicated. Likewise, if your highest interest point is a very large debt, it may take a while to see progress, so that you can never reach your goal. Using the method of total debt amount will at least show results faster because you pay small debts out and roll your payments on larger items.

]]> http://debtconsolidationassistanceonline.com/what-is-the-best-way-to-consolidate-your-debt/feed/ 0 Validation of debt: 7 debt validation steps to fight collection agency http://debtconsolidationassistanceonline.com/validation-of-debt-7-debt-validation-steps-to-fight-collection-agency/ http://debtconsolidationassistanceonline.com/validation-of-debt-7-debt-validation-steps-to-fight-collection-agency/#comments Sat, 08 May 2010 11:12:55 +0000 Debt Consolidation http://debtconsolidationassistanceonline.com/validation-of-debt-7-debt-validation-steps-to-fight-collection-agency/
  1. Proof that the CA holds your debt: You’ll get a written proof of your debt being sold off or assigned to the CA.
  2. Your payment history: You’ll be given a statement of your account payment history till date. This will help you to verify your total debt amount including any late/extra fees being added. You can also find out how the CA has calculated the extra fees.
  3. Copy of your original contract: This will prove whether or not you still owe the debt. Instead of this contract, the CA can also provide you with account statements from the original creditor.

    4. What are the steps in validation of debt?

    Check out the 7 steps on how to seek validation of debt and deal with collectors and CRAs.

    1. Request a validation of debt: Send a request letter to the CA asking them to validate your debt. Just check out a sample debt validation letter so that you’ll know how to format the letter. The letter should be sent via certified mail with a return receipt request.
    2. Check if the CA is licensed: You need to wait for a reply from the CA. The agency may send you a letter with the details you’ve asked for. Once the collectors validate your debt, you need to check if at all they are licensed to collect debt in your state. However, not all states impose licensing requirements for a CA. Such states are California, Georgia, Iowa, Kansas, Kentucky, Montana, Oklahoma, Pennsylvania & South Carolina.
    3. What if the CA violates collection laws: If collectors need license to collect debt in your state and the CA contacting you isn’t licensed, send them a letter stating they’ve violated the state collection laws. You may also inform them that they may have to go through prosecution and pay fines.
    4. What to do if the CA doesn’t validate debt: If the CA doesn’t send you a satisfactory proof, then you need to send them the documents given below:
      • A copy of your validation letter
      • Copy of the return receipt
      • A statement that the CA has violated the FDCPA

      As per FDCPA, if the collection agency doesn’t validate your debt, then they can no longer collect the payments and they shouldn’t contact you anymore.

    5. Remove collection listing: Under the FCRA, collection agencies should not report a negative entry to the CRAs if they don’t validate your debt. You need to send a letter asking them to remove the collection listing. You should also inform them that if they don’t remove the collection, you might sue them on account of violation of the FDCPA. Wait 15-20 days for a reply from the debt collectors. They’ll either remove the negative listing or else they won’t respond at all.
    6. Sue collector if listing isn’t removed: If the collectors don’t remove the collection listing from the report, then you can file a lawsuit in the small claims court on account of their violation of the FDCPA. Make sure you send out the lawsuit papers to the CA as well. However, prior to filing the lawsuit, inform the CRAs that the CA is simply not trying to remove the collection.
    7. Know how to deal with the CRAs: If the CRAs verify the collection, you’ll have proof of further collection activity from the CA. Further collection activity without debt validation is a violation of the FDCPA. You need to inform (with proof) the CRA about such a violation. You can even request the method of verification of your collection listing (as allowed by the FCRA). In case the CRAs do not share any details of such verification, tell them that they are violating the FCRA.

      You can file a lawsuit against the CRA on the basis that they couldn’t provide you with a satisfactory method of verification. This can be done through the small claims court or your state/federal court. Just inform the CRAs about the lawsuit, as there’s a chance that they may contact the collection agency and find out that the debt may not be legitimate. In such a case, the CRA will delete the collection listing asap.

    Can you dispute debt after validation period?

    You can send in a validation letter to your CA after the 30-day period. But the collectors aren’t legally obligated to give you a reply. They may also not stop collections on the account. So, you shouldn’t dispute debt after the validation period is over.

    Debt assigned to CA – how does it affect validation?

    If your debt is assigned to a collection agency, it implies that they don’t own it legally. So, you cannot owe them money because the assignment is not a contract between you and the original creditor. However, you may have signed the contract stating that you’ll be responsible for payments to the creditor and its assigns. Such a document is actually a contract between you, the creditor and the collector. Thus, if the CA provides you with a copy of that contract, then you’ll have to acknowledge the debt.

    How does validation and debt verification differ?

    In case of validation of debt, the collector is required to send copies of the debtor’s contract with the original creditor. But in debt verification, the collector simply provides a written statement having the name and address of the original creditor and the total debt amount. However, the time limit for verification is similar to that of validation.

    As per FDCPA, CAs should stop collection activities as soon as they receive your request for validation or verification within the 30-day period. They can resume collection efforts only after they’ve sent you a satisfactory proof that you owe the debt.

    With debt validation, you can avoid harassment by collection agencies. It gives you a chance to verify whether or not you legally owe the debt. Once the CA verifies your debt, it becomes easier for you to plan how to pay back your dues. But make sure you’re well aware of your rights as a consumer and can use them to your benefit just in case the CA doesn’t validate your account and continues its attempts to collect your debt.

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]]> http://debtconsolidationassistanceonline.com/validation-of-debt-7-debt-validation-steps-to-fight-collection-agency/feed/ 0 How to settle your debts yourself and simplify your life http://debtconsolidationassistanceonline.com/how-to-settle-your-debts-yourself-and-simplify-your-life/ http://debtconsolidationassistanceonline.com/how-to-settle-your-debts-yourself-and-simplify-your-life/#comments Sat, 08 May 2010 11:12:53 +0000 Debt Consolidation http://debtconsolidationassistanceonline.com/how-to-settle-your-debts-yourself-and-simplify-your-life/

If you cannot pay the minimum on your debts, it’s time for you to settle your debts. Debt settlement is a way by which you can negotiate with creditors/collection agencies and reduce your debt amount by 40-60%.

This article will give you a step-by-step analysis of how to settle your debts yourself.

  1. Calculate your total debt amount.
  2. Analyze the type and age of your debt accounts.
  3. Get a copy of your credit report from the credit bureaus and analyze it. Check out Sample Credit Reports from the 3 bureaus.
  4. Look through your credit report and find out if your account is still with the creditor or turned over to a collection agency.

How to settle your debts yourself if the debt is with the creditor

  1. Take a note of the following first:

  2. You can look into the Creditors Database for the address and other relevant information about creditors. Also check out the mailing instructions for further help.

  3. Before deciding upon the monthly installment, check how much you should offer to your creditor.

  4. Contact your creditors and explain your plan. Tell them how they can benefit from it.

  5. Inform your creditors that you are sending this offer to all other creditors and the ones who accept the offer first will be paid off first.

  6. Keep records of acceptance letters and send in the amounts agreed upon ASAP, requesting a receipt stating “Paid in full”.

  7. Repeat this process each month and go on adjusting your debt settlement offers upwards.

  8. When you have fewer debts to pay off, send in offers of paying back higher percentage of the outstanding balance to your creditors.

  9. Repetition of this process each month will make you debt free soon.

  10. Don’t forget to obtain a fresh credit report once a year to keep yourself updated on your account status.

  11. After you pay off debts, negotiate with creditors such that they update the account status on your credit report as “Paid in full” or “Paid as agreed”.

How to settle your debts yourself if the debt is with collection agency

  1. Contact the collection agency (CA) by letters & not phone as they may behave badly over the phone.

  2. Keep the name and direct phone number of the collection agency representative whom you are talking to.

  3. Send a debt validation letter in order to verify that you owe the money. Accept a reply only when it contains the following:

    • Proof that the CA is assigned to collect the debt by a creditor.
    • Detailed payment history starting with the original creditor.
    • Copy of the original signed debt agreement or credit card application.

  4. If the reply is not satisfactory, inform the CA that they are violating the FDCPA and they need to remove collection listing from your credit report. Otherwise you have the right to sue them.

  5. If the CA validates the debt and it turns out that you owe the money, then you need to contact the creditors. Request them to pull your account back from the collection agencies.

  6. If you have enough money offer lump sum payment to the creditors.

  7. If you don’t have enough money, make your creditors aware of your inability to pay off the total debt and offer them an alternative payment plan.

  8. If your creditor doesn’t pull back the account from the CA, negotiate with the collection agency with a cool brain.

  9. Avoid sending cash and make the payment in such a way that you get a receipt. Don’t forget to mark your envelope as “Payment enclosed”.

  10. Don’t miss payments and make sure that your check doesn’t bounce while paying the collection agency.

  11. Try to clear the debt account in time so that you don’t have to deal with the CA again.

In case you aren’t comfortable dealing with creditors/CAs, you can take help of a debt settlement company/law firm who’ll negotiate on your behalf and help you to settle your debts. You need to go for a no-obligation free debt counseling with the company so that they can assess your financial situation and then decide how much they’ll negotiate for.

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]]> http://debtconsolidationassistanceonline.com/how-to-settle-your-debts-yourself-and-simplify-your-life/feed/ 0 Consolidate College Loans – Fixed Rate vs Fluctuating Interest Rate Loans http://debtconsolidationassistanceonline.com/consolidate-college-loans-fixed-rate-vs-fluctuating-interest-rate-loans/ http://debtconsolidationassistanceonline.com/consolidate-college-loans-fixed-rate-vs-fluctuating-interest-rate-loans/#comments Thu, 26 Nov 2009 18:43:25 +0000 Brian Longsteen http://debtconsolidationassistanceonline.com/consolidate-college-loans-fixed-rate-vs-fluctuating-interest-rate-loans/ It does pay to consolidate college loans as doing so will help you save up to sixty percent on the total cost of your existing loans. This is good news, especially as many college students are currently paying more than eight percent by way of interest on their college loans. By going ahead and consolidating your college loan you will be able to half your monthly payments and also get to take advantage of lower rates of interest.

In fact, only if you think about consolidating your college loans can you then succeed in locking into lower interest rates that will generally be in the range of four to five percent. Calculating how much you get to save by consolidating your loan will show you that consolidation of college loans will indeed prove to be very advantageous for you.

Another reason why it pays to consolidate college loans is that you will get to enjoy greater flexibility in paying off your loan earlier than scheduled and that too without needing to pay any early pay-off fees either. This factor too ensures that you will be able to save more money since there are no additional interest payments to be made.

When you consolidate your college loan the amount that you will end up paying will not be more than about one hundred and thirty dollars. So, it is easy to see that consolidating your loan will help you save as much as eighty dollars per month on a loan of twenty thousand dollars. This works out to be a saving of approximately one thousand dollars for each year that you spend in college.

Of course, the actual process of consolidating your college loan can prove to be confusing for those who are new to consolidation of loans. Lenders are known to have their own special agendas and in many instances their loans might not suit you too well which means that first of all you will need to comparison shop different consolidation plans.

It is in your best interests to choose a consolidation loan that has a fixed rather than fluctuating rate. If you go with an adjustable rate you will be gambling with luck because the rates can turn out to be too high for you. On the other hand, a fixed interest rate means that you can calculate beforehand how much your monthly payments are and then you can budget accordingly.

Also, remember that if you have almost entirely paid off your college loan then it will not pay to consolidate college loans as doing so under such circumstances will mean having to pay more by way of interest. So, it is better to just continue paying off the remaining portion of your college loan.

Looking to consolidate private student loans? To consolidate private loans, visit Pay-Off-Student-Loan.com

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