Get out of debt consolidation loans ( student loans and personal loans from dad)How ???!?
OK so a short back history to help you see where I am with my debt. - 10k in Student loans(way behind payments because they don't seem to get the money?.. - 3 K - Dad- helping me get passed my troubled years of trying to make it on my own and failing... -3 K for a loan taken out by my boyfriend so we could move..out of state.. this is not due yet but will be soon. I also have a car about 15K (in my dads name ) this is not a must to have a Consolidation loan for but I would like to add it in that is current on payments but I would like to pay it off with a loan that I can repay with out it being in his name as he would like it no longer to be after this year. I have been at my job for 5 months now that I have moved and I make enough to have a few hundred per month in loan payments but I want to clear it all up with one new loan so im not "behind" Every one seems to know something about helping with debt but I don't have any credit card debt ... I need to know how to Take out a loan to fix this SO I can have the car in my name.. and pay off my student loans with a company that dose not jerk me around so I can handle it. If any one has any insight on this issue I would REALLY REALLY be thankful for your help. Thank you
Public Comments
- Forget about a consolidation loan. It will cost you around 18% to 28% interest. However your local bank would loan you money at a much lower rate (IF your credit score is over 650. Best way to reduce these bills is by priority. 1. You can file for hardship to stall your payments on the student loan. until your other bills are paid. That's the law. 2. Dad, can wait. 3. Pay off the 3K on your recent loan first. pay it off ASAP. 4. Talk to dad about monthly payments @8% interest, until he is paid in full. 5. You will than have your car left to deal with. Rather than pay off Dad's loan, Go to the Loan Co, or Bank, with your Dad and request that the loan be put in your name. Not as a co-signer, by totally in your name. If that doesn't work, you should continue to make accelerated payments on the car until it is paid in full. Good Luck
