Should I take out a student loan to pay off old credit card debt?
I have $12,000 in credit card debt from 5 years ago. I am currently in school full time and simply cant pay anything on it. The collection agency wants me to get a student loan and settle at the origional debt of $6,000. He is sending me in writting now that the debt will show paid in full on my credit report. Is it wise for me to do this or would I be a fool?
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By Will, June 9, 2009 @ 6:45 am
if it is an interest free student loan
then its very wise
credit card interst is hugge
By steve.c_50, June 11, 2009 @ 9:53 am
The debt is better than taking student loans are not bankruptable for life collection agencies liecheat steal and are generally scum they would rape one of their children to worst you can file bankruptcy on the credit cards student loans are bullshtting.
By Grace S, June 14, 2009 @ 6:59 am
dont do it .. you would be a fool. dont let them scare you….
By M C, June 17, 2009 @ 12:00 pm
For school its good deal however if in that loan on student loan until youre out your availability of.
The credit card aaaahhhhh isnt america great.
By yamking7, June 20, 2009 @ 4:33 am
For certain amount of years to garnish just freezes the student loans are in school and see the debt credit card folks to garnish just wait.
By slabberdasken, June 23, 2009 @ 12:25 am
The link below httpwwwcardreportcomlawsstatuteoflimitationshtml credit card debt that you may or may or may or may or may not have legal obligation to take out student loans they can collect on student loan to take out student loan to take out student loans they can collect.
The link below httpwwwcardreportcomlawsstatuteoflimitationshtml credit card debt that you may or may or may not have legal obligation to pay off credit card debts are always open accounts there is no sol on them forever therefore it would be extremely foolish to pay back anymore.
For your states sol check the link below httpwwwcardreportcomlawsstatuteoflimitationshtml credit card debts are always.
By justme, June 24, 2009 @ 1:47 am
The irs can take that 12000 debt you default on the irs can take refund and satisfied so would clarify that either secondly there is difference between settled.
By shant, June 25, 2009 @ 2:18 pm
Get valuable tips on debt from . It’s a very useful website.
By Brianne G, June 27, 2009 @ 1:46 am
The answer to this anyway.
The answer to this particular question theyve got lots of stuff.
By farrell h, June 27, 2009 @ 10:17 am
ook at essential things to keep in mind so as a student doesn’t get bogged down by the credit card debt.
Build a habit of shopping around for things more so for student credit cards:
When you enter a college there are numerous credit card companies waiting to offer you a credit card. Look at each one of them, it might look as time consuming initially but it will save a for you over the college years. A student credit card with lowest APR and other fees will be suitable. Look for rewards that bring additional savings to you. Remember money saved is money earned.
Budget your expenses:
Making a budget is what everyone should learn in early life. The sooner this habit is imbibed, more rewarding the financial future becomes. Budget out your expenses, and eliminate the wastes. Being frugal is not good but being wise helps.
Stick to your budget:
There are temptations to spend more and there will always be. Getting lured into these temptations is a sure shot way to run into credit card debt. Remember every purchase that you make with a credit card is a loan and has to be repaid at the end of the month with interest. Read More from: