Best way to pay (??)
Date: Thu, 01/31/2008 - 23:27
Best way to pay (??)
Here's the question - does debt consolidation raise or lower the interest rate? Would I be better off paying them individually (SL#1 = $27,000 at 8% interest, SL#2 = $60,000 at 7.22% interest, and SL#3 = $8,000 at 7.22% interest) or roll them up into a consolidation package and one payment? Which plan would give me the overall least amount of payback? Thanks!
Consolidation interest rates are based on a weighted average of
Consolidation interest rates are based on a weighted average of all your loans. Most lenders offer a rate reduction for automated payments. However to consolidate, you do need a US address for billing purposes.
hi! whether you opt for a debt settlement or debt consolidation,
hi! whether you opt for a debt settlement or debt consolidation, you will definitely have to pay back less than what you pay individually. in case you have any extras like late fees etc, those too get deducted under such a program. so you have to pay much less than what you actually owe. but then you need to check that whether it can be worked out with student loans or not!
Student loans do not participate in debt settlement or debt cons
Student loans do not participate in debt settlement or debt consolidation programs.