Lowering Student Debt: 5 Tips

The burden of student loan debt can prevent you from buying a home, starting your dream career, or even settling down with a family. Here are a few tips to get those student loans paid off faster so you can get started toward your goals sooner.

  1. Get a second job before settling down.

If you have proven your ability to comfortably live off of your first job, the income from a second job can be put directly into your student loans. Continue making the monthly payment that you have been, then add your second income on top of that to accelerate the process.

  1. Refinance your student loans.

This is where strong credit can really go to work for you and benefit your repayment efforts. There are a few very competitive options for refinancing federal and private student loans, enrolling in automatic payments could provide you new rates as low as 2%! Refinancing at a lower rate can reduce your minimum payment, keep making your original payment or more and you will pay off your debt faster.

  1. Reconsider big-ticket purchases.

One of the best things about being a graduated adult is spending like one. Vacations, nice dinners, new cars and apartments are all fun, but if they are taking up half of your monthly budget, it will be wise to cut back and put more money toward your student loans.

  1. Live at home with your parents.

Yes, we said it, live at home with your parents. If this is an option, you can really improve your student loan situation. Find out what you could be paying for rent in an apartment, then add this amount to your monthly student loan payment or split it and invest part of the extra money.

  1. Write a detailed budget with a loan payment plan.

Tracking your money as it comes in and knowing where it will go may give you some peace of mind. Your budget needs to be detailed so you can find any black holes where your money might be going. Making sure your loans are accounted for and adding any additional funds to them will help you pay your loans, and be a smarter spender.

Put these 5 tips together and you will surely be paying your loans off much quicker. Don’t be another college grad that goes delinquent on their student loans. Your debt may be debilitating now, but collections, judgments, and bad credit can make your situation worse.

 

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Studen Loans Holding You Back?

The average student debt for this year’s american graduates tops $35,000.

Millennials are having difficulties paying off student loans and for many it is holding them back from their American dream. Buying a car, a home, having children, getting married, and saving for retirement are all part of that dream, but student loan payments make it difficult to add more debt.

Salaries for recent college graduates have remained fairly flat, student loans on the other hand have doubled since the 1990s. Catching up can be very difficult so many college graduates are moving in with their parents and delaying their American dream.

One option you have to speed up your chase for the American dream is to get the best credit you possibly can. Start building your credit now and you will be able to pay less for the money that you borrow, allowing you to have more reasonable monthly payments, freeing you up to move forward. Use your money wisely, pay off high interest debt, and make sure to always make your payments on time, and you will start chipping away at your debt, while still living your life.

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Don’t Judge Yourself!

Begin by seeing what kind of shape your credit profile is in before you attempt to build your credit, refinance loans, or apply for financing. After pulling your credit report, you may feel a lot better about your situation. Certain accounts and items on your report may need to be fixed over time. However, there are a lot of things that may be removed quicker than you thought.

Aside from repairing the history that may be hurting your credit profile, we coach our clients on what they can do to establish and continuously build a great credit profile.

CreditServices.com will teach you the best way to utilize and build your credit. Our advisors will coach you on specific tactics that you can continue using to build your credit for the rest of your life. Your personal detailed Credit Guide will help repair your missteps in the past, and show you what you can do to prevent them from happening again.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

 

 

Avoiding Bankruptcy

Life and finances can be very unexpected and difficult to manage, you may find yourself getting deeper and deeper in debt, sometimes to the point where it is impossible to meet all of your financial obligations. Debt settlement allows you an option other than declaring bankruptcy.

The goal of Debt Settlement is to get creditors to mark your debt as completely satisfied in exchange for a partial payment.

Many of our clients have seen success with our preferred debt settlement affiliate, DebtServices.com, their experienced negotiators understand lenders, and the policies and procedures that they follow. Lenders would rather receive a partial payment than none at all, which is very possible if you declare bankruptcy.

As debt negotiation specialists, DebtServices.com will work on your behalf to save you the most possible money in your debt settlement. This will allow you to get your finances back on track, improve your profile, and move toward living your life the way you want to live it.

Don’t let debt weigh you down. Take action now!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Overpaying on Student Loans?

Refinancing your private student loans opens up the possibility of paying significantly less on your student loans. With a lower interest rate comes a lower payment, and a total bill that is lower over the life of the loan. The key here is to have excellent credit, which is why it is vital for college graduates to protect their credit scores. For borrowers with excellent credit and the ability to pay on the standard repayment plan, lowering the interest rate can make a lot of sense.

For those without “excellent” credit scores, this isn’t a viable option. This is where CreditServices.com comes in. With our proven service levels, we will provide a foundation to build your credit to where you can refinance your student loans, auto loans, and home loans to lower your interest rates and monthly payments, and save thousands of dollars each year. This will give you the purchasing power that you need to achieve your goals and move forward, instead of being hindered by student loans.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Debt Delaying Home Ownership?

If you have outstanding collections, judgments, or tax liens holding you back from obtaining a mortgage, they will likely need to be resolved before moving forward. Having active management and negotiation on collection or judgment accounts during the course of your loan application process is important and in most cases a must have option to be successful.

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CreditServices.com™’s preferred debt settlement affiliate; DebtServices.com™, works on behalf of clients to lower their debt amounts and settle outstanding debts that are hindering loan obtainment.

One of the main reasons behind the creation and development of this partnership is to have a solution and ability to help structure a plan for consumers during their process of paying off any collection account. This strategic partnership delivers tremendous value because having activity on collection accounts that are reporting on one or more of the three major credit bureaus will trigger new up to date activity in the Date of Last Activity (DOLA) section of the credit report. This new activity will negatively impact the consumer’s overall credit risk by updating the reporting negative account to ‘current’ on your credit history section. This new activity and negative risk will in fact, lower your overall score(s).

CreditServices.com and the debt negotiation specialists at DebtServices.com work closely with each client as needed on which accounts to settle and when, in relation to their overall credit status and type of lending opportunity they are looking to obtain.

DebtServices.com has the ability to negotiate payment for deletion tactics, payment plan options, reduction of interest due, settlement of total amount with a fraction of the original cost, judgement services and the list goes on. Each step is taken in a matter that is to restrict and limit the amount of negative activity that takes place on the client’s credit report profile and score. The important aspect to all of this is that each step taken will be specific to the consumer’s overall goal and what is best for their situation.

DebtServices.com’s negotiation specialists have years of experience from working with thousands of settlements over the years, and industry connections that have been built through this work that directly benefit the consumer.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.