Student loan?

[marcie26]

I was browsing a bankruptcy website for somewhere in my area and a particular website claimed that even though student loans are not dischargeable, they may be able to get your payment consolidated and/or lowered? Is this true? I have never heard of this so it shocked me. I already consolidated so that wouldn't help me, but if the payment or interest could be lowered it def would.

[MomIcantFindmy]

Likely it is private consolidation loan which if you chose to persue you would lose the student loan interest rate guarantee. There are many nonreputable companies that engage in the process of convincing you to consolidate with them for a reduced payment yet higher interest and a lifetime of low payments. Check with your lender as there are many programs that can help you for short periods of time.

[marcie26]

Likely it is private consolidation loan which if you chose to persue you would lose the student loan interest rate guarantee. There are many nonreputable companies that engage in the process of convincing you to consolidate with them for a reduced payment yet higher interest and a lifetime of low payments. Check with your lender as there are many programs that can help you for short periods of time.

My loan is already private and at a fixed rate (9.?%- yeah, I will be paying that til I die, but before I got it fixed it was almost 11%!)

[lrprn]

[Marcie, we have a brand new Student Loans forum area, so I moved your thread there. -lrprn]

MIFM is absolutely right. There are plenty of scummy, low-life financial companies playing in the student loan consolidation/negotiation game these days precisely because student loans are a non-dischargeable heavy stone around ex-student necks for extended periods of time. Desperate people do desperate things that play right into these companies' hands.

Any time you see a deal that looks too good to be true, 99.99% of the time, it's a rip-off in disguise. No company will create a financial break for you unless they eventually profit from doing so. No exceptions.

Chances are anything this company could do to help reduce your payments, you can do for yourself for nothing. Just need to do a little online research to get familiar with all the student loan options available, that's all Here's a good place to start - http://www.nolo.com/article.cfm/pg/1...3/208/135/ART/

[marcie26]

Sorry, didn't know about the new forum - thanks!!

[delta_1981]

student loans

I read this thread. It is very useful for all students. Every students read this and apply loan. Many students are poor but they are study well. They are earn high marks and take high marks. But financial problems stop their study. In this students use this students loan. Thankx for your ideas.



Thankyou.