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Private Loan Consolidation Options....do I have any?

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    #1

    Private Loan Consolidation Options....do I have any?

    Hi hi! Question on consolidating my private student loans. I have 3 loans with Chase totaling about 38,000. One loan with Sallie Mae at 3,000 and one loan with loan 2 learn at 11,200.

    The interest rates currently on these are all pretty low around 5-8%. They do fluctuate a lot.

    My chase loans were supposed to be deferred till 12/2010 but I just checked and now it says 3/2010.... ugg. The other two I'm paying on... 55 a month for the Sallie Mae and 80 a month for the other.

    Being that I now have a bk on my credit and the websites that I find for consolidation say "due to the credit crisis we are not issuing loans" ... is there any hope for me to ever consolidate these loans? Or will I forever be stuck with 5 different loans?

    The Sallie Mae loan I can probably save up for and pay off farely quickly... but the 38,000 and the 11,000 one are daunting to me.

    Plus I have 55,000 in federal loans for my bachelors. I make almost a 6 figure salary, so I don't qualify for the IBR thing ... And yes that sounds like a lot of money but I live in a very expensive place and have a family with 1 income...

    Any advice?
    BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
    Scores: EQ 745 EX 704 TU 710 as of 08/15/2012
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    #2
    You can consolidate all of your private student loans, and then you can consolidate all of your federal student loans. You would still have two loan payments, but the consolidation would probably lower the interest rate, and will lower the monthly payments on both types of loans.

    There are a lot of places that will consolidate private student loans. Just do a google, and there are several reputable ones.

    Direct Loans is the best way to consolidate your Federal Student Loans into a smaller monthly payment.
    You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

    Comment

      #3
      Well, I was mainly thinking about if I would get approved at all with the bankruptcy. And would my interest rate end up being higher than it is now.

      Also, as I mentioned any website I go to that I search on google says they are not doing loans anymore due to the credit crisis...

      So, I was wondering if anybody knew of companies specifically.
      BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
      Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

      Comment

        #4
        Originally posted by Amy26 View Post
        Well, I was mainly thinking about if I would get approved at all with the bankruptcy. And would my interest rate end up being higher than it is now.

        Also, as I mentioned any website I go to that I search on google says they are not doing loans anymore due to the credit crisis...

        So, I was wondering if anybody knew of companies specifically.
        I know that Wells Fargo does private loan consolidation. Chase does too.
        You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

        Comment

          #5
          I bk'd a bunch of credit cards with Chase... I don't think they would help me!
          BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
          Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

          Comment

            #6
            Originally posted by Amy26 View Post
            I bk'd a bunch of credit cards with Chase... I don't think they would help me!
            Citibank does private loan consolidation too.
            You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

            Comment

              #7
              Bk'd them too!
              BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
              Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

              Comment

                #8
                Originally posted by Amy26 View Post
                Bk'd them too!
                Me too, lol they were my biggest credit card.
                You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

                Comment

                  #9
                  LOL... same... 20,000 buckeroos....

                  I guess I'll just wait till next year and see if the credit market is any better. I'm just trying to plan our finances... right now we have a decent amount of money left over every month to pay various things...

                  But I've got the stupid HOA dues I'll be responsible for till my bank gets off their ass which is like 220 bucks a month... these student loans....

                  Hubby needs to get a job! lol
                  BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
                  Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

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