How can I get a loan to pay off student loans and credit card debt?

Similar questions: loan pay student loans credit card debt.

Personal or Home Equity Loans I'm going to assume you don't own your home (or don't have enough equity in it), so you cannot use a Home Equity Line of Credit. Your next bet is a personal loan. But then that all depends on your student loans.(If you are getting or refinancing a home loan, you can ofetn get a small percentage over the value ofthe house for closing costs, improvements and paying off other debt.)Regular student loans, whether subsidized or unsubsidized, are usually better left alone.

Consolidate them if you have not to earn a lower payment and interest rate. Any other loan you get will only make your interest and payments higher. Private student loans can now be consolidated or refinanced through many banks and lendors.

These will drop high interest rate imposed by your school (22% in many cases) to a more manageable level. Finally get a personal loan to pay off credit card debt. Without collateral, you will probably not get enough to pay both CC and Student Loan debt.

(you may also try getting new lower interest rate cards and transferring balances). For all af these things, you should have a good credit score. Anything over 700 will help.

Stay at the same job. Lenders look to see if you have been at your job for two years. Staying at a job makes you less of a risk.

(some lendors also look to see if you move around alot, but this is less crucial)Get a co-signer. Ask your parents, a relative, a significant other, or friend to co-sign your loan. They must have all the same qualifications needed for a loan (especially if you are missing one or two of them).

In the end you should try to pay off the debt by focusing on the one with the highest interest rate first. Pay the minimum on all other accounts with all extra money going to the one with the highest interest rate. Sources: OPINION .

You get a consolidation loan through a bank... perferably your bank where you have an account already established. You have to be able to pay it off so they will ask for some secuity of some sort to ensure they won't get left holding the bag. Never a good idea to refinance a loan with a longer term loan... maybe you can get a lower interest rate and actually drop the finance charges some?

This would be good.

Your question is not extremely clear here, because you have not mentioned why this is even a problem - So I will make the assumption that you have tried and been refused by a regular bank, and that the reason for the refusal had something to do with these debts being large and unsecured. If that is the case, there may not be much you CAN do to move the debt around as you desire to. But in reality, moving the debt around does not really help your situation.

What you need to do is design for yourself a liveable budget, figure out how much per month you can pay to these folks, then sit down with them and explain your problem. I worked for several years in consumer credit, and can tell you that almost ALL creditors will work with someone who comes to them with a plan like this. Then, STICK TO THE PLAN, CUT UP those credit cards, and avoid future debt like the plague!

Sources: personal experience AmPat's Recommendations The Total Money Makeover: A Proven Plan for Financial Fitness Amazon List Price: $24.99 Used from: $14.29 Average Customer Rating: 4.5 out of 5 (based on 264 reviews) The Total Money Makeover Workbook Amazon List Price: $17.99 Used from: $8.50 Average Customer Rating: 4.5 out of 5 (based on 47 reviews) Financial Peace: Restoring Financial Hope to You and Your Family Amazon List Price: $22.95 Used from: $3.34 Average Customer Rating: 4.5 out of 5 (based on 87 reviews) Dave Ramsey has GREAT advice in this area! .

2 newbie4206568, regarding your answer "Personal or Home Equity Loans": I didn't think of this but Newbie is right... a home equity loan can make your debt consolidation a deduction on your taxes.

Newbie4206568, regarding your answer "Personal or Home Equity Loans": I didn't think of this but Newbie is right... a home equity loan can make your debt consolidation a deduction on your taxes.

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In the State of Washington, can a judge order that your wages be garnished to pay off a credit card debt.

I was laid off. I have $4700 loan bal. Due in 30 days.

BUT I have $8k in credit debt. Shud I use $ to pay loan or Credit?

Relative asking to for 30K loan for credit card debt, not the first time.

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