S L asked:


I remember hearing once that a debt after a certain amount of years, is moot. Does it depend on the state where the debt occurred or you current state of residence?

I heard that collection agencies that specialize in buying old debts, to try and collect on, **** for people to know about these laws. Where does one look up information about this? And what exactly does one do to bring it to the attention of the collection people, that you are no longer obligated by law to pay on such an old debt?

AliyahMichelle asked:


My boyfriend and I just had a financial analysis done but haven’t gotten the results on our options yet. Is it really worth it to go through with this? Has anyone had experience on it? I mean we have debt but not so much we can’t handle. On the other hand we are both mid-twenties and have no retirement savings started and we are not able to put much, if any, in our savings accounts. We will have the option to consolidate debt, start retirement accounts, have money to put in savings, and get better life insurance. Is this just a ploy for the financial company to prey on young people or is this real? Please help!

The real Knight Rider asked:


On average how long does it take? Once through the program if you compare 2 people, one with debt and high score. The other with bruised credit and no debt and almost high score which one is better?

40 something asked:


My husband’s employer of 17 years chose to restructure the company. He is now pursuing a new trade entirely. Is there any grants or other money available for his new business and our family finances during this transition? Our debt to income is totally out of whack and we need help!

Debt asked:


Student Loan consolidation can be the best friend of any student who has just completed their course and graduated from their college or university. Most students who just come out of their college and universities find it very hard to maintain their monthly expenses as they have a bigger burden to repay their student loans taken out during their academic years and for those students who had relied on these loans heavily, consolidation can be an even better option.

Private loans normally have huge interest rates compared to that of federal loans and given the fact that a private loan repayment is hanging over your head when you are about to complete your graduation can be much more worrisome. Though a student can consolidate their private loan through a federal loan but that is somewhat impossible to get for the majority of students. However reducing the amount of monthly loan repayments can be a huge relief if the student acts accordingly to get the loan amount reduced or repayments period gets increased significantly by the lender company.

Apply for Student Debt Consolidation Loan

A cosigner is required with a private loan, though a student might not require a cosigner to consolidate their private student debt consolidation but having a cosigner can reduce the interest rate significantly to a lower rate and might even end up having a zero interest rate if the credit rating of the cosigner is above average. A lot of companies provide services of cosigner release benefits which mean that if a student is able to make the payments on time as estimated in the contract then the cosigner will be completely released from the debt.

With increase in consolidation methods, many companies are providing automatic private loan consolidation offers with their private student loans. For an example some companies are providing borrowers with interest only payments which mean that the amount of money paid as interest can get lowered and the actual loan can be consolidated. This allows the borrowers to save huge amounts of money over a longer period of time. Moreover many companies simply increase the repayment period by ten years or so which significantly lowers the amount of money to be repaid each month. However in most cases a borrower of a student loan is not penalized in case he or she is not able to repay the loan in time if it has been processed through a student debt consolidation plan.

Private student debt consolidation loans can be really worrisome for students who are about to graduate from their college and university. Moreover with the transitional phase of changing their career it can be more troublesome to any new graduates as they don’t get enough guidance on how to choose a new career. With tuition fees rising each year and more and more debt incurred during their college, private loans can be a huge burden on any new graduate student. A student loan consolidation plan can provide great relief for such student as it reduces the time of their repayment and allows the student to think more on their career goal.