How To Repay Student Loans Quickly
We all put a premium on education. If we lack resources to do so, there are always an alternate route. Some people opt for student loans.
You will learn the difference between private and federal loans in this video. Will you qualify for student loans? Watch this video and find out. Also, heed these tips about what you can do to make sure that you will be able to pay off your student loan quickly.
Categories: Loan Videos Tags: loans, repay, Student
What will happen if someone does not repay an unsecured loan?
Question by Sharon B: What will happen if someone does not repay an unsecured loan?
I borrowed $ 13,000 from a finance company, after about a year of repaying the loan I had noticed less than $ 100.00 actually went towards the loan I payed about $ 2,736 for a year,I had asked them to help me with the payment and the interest rate they told me their was nothing they could do so I stopped my bank draft by closing my bank account now I`m worried they might try to seize my property can you give me some answers.
Best answer:
Answer by David M
They are about to turn your life into hell. They will sue you, most likely win a judgment against you and will attack your bank accounts and garnish your wages. And oh yeah, your credit rating will be shot making it next to impossible to get credit cards, loans or to rent an apartment or get a cell phone. Your best bet is to try to work with them and pay off this debt.
Give your answer to this question below!
What happens if you fail to repay your educational loan?
Question by troubled: What happens if you fail to repay your educational loan?
What happens if a person fails to repay his educational loan? What are the consequences?
Best answer:
Answer by Common Sense
If it’s a Federal loan they can seize your tax refunds. Other lenders could sue you and get a court order to attach your wages.
Add your own answer in the comments!
Categories: Loan Questions Tags: educational, fail, happens, loan, repay
How and Where do i go to repay my federal perkins loan?
Question by Patrick B: How and Where do i go to repay my federal perkins loan?
Although i know how to pay back my stafford loan, I am very confused about how and where to go to repay perkins loan. Is my college the lender of the perkins loan? If so, then do i just call up my school’s financial aid office? Please help!
Best answer:
Answer by NotAnyoneYouKnow
Your college is (or was) the lender, but it’s unlikely that they’re going to handle the repayment. Chances are that they have contracted with a loan servicing company to administer the loan during your repayment obligation.
When you leave school (or when you left school), you were required to complete a financial aid “exit interview”. The point of that interview was to explain your payment obligations, and to introduce you to the loan servicing company that would coordinate your repayment. That company will send you some sort of monthly payment “reminder” – probably in the form of a coupon book that you would use to make your payment each month.
If you haven’t left school yet, then relax – your first Perkins loan payment isn’t due until you’ve been out of school for 9 months.
If you have left school, and you just haven’t been contacted yet, then you could certainly call your financial aid office and ask them for more information about the loan servicing company that will be getting in touch with you.
I hope this helps – good luck!
Know better? Leave your own answer in the comments!
Categories: Loan Questions Tags: federal, loan, perkins, repay
Can a Payday Loan/Cash Advance company report you to the credit bureau if you dont repay?
Question by Brit: Can a Payday Loan/Cash Advance company report you to the credit bureau if you dont repay?
I have a Payday Loan/Cash Advance that I didn’t pay back now its on my credit report. 1st question is can they do that?? I have recently received some papers in a mail stating that these types of companies are currently in a Class Action Lawsuit. 2nd question…If the case goes in our favor..can I get this taken off my credit report?
Best answer:
Answer by My Take on It
Of course they can
They extended you credit and you didn’t repay them according to the contract (it’s like 5 or 6 pages that you have to sign to take out these loans, lots of small print that informs you they can report you if you do not pay)
Depends on what the class action suit is about. The thing is, by the time the class action suit is ironed out, it would either be off your report (aged off) or you will be sued by them or the collection agency they sell your debt to, so it won’t matter.
Know better? Leave your own answer in the comments!