what is the best debt consolidation company for private and student loans?
Jan 11, 2009 in
Personal Finance
markymark
Got private bank loans and a couple student loans. I don’t want someone to scam me for consolidation. What company should I use and what’s a good rate?
Got private bank loans and a couple student loans. I don’t want someone to scam me for consolidation. What company should I use and what’s a good rate?
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4 comments
Ethan's Mom on January 12, 2009 at 4:42 am
Sallie Mae – go to salliemae.com
Generally, you can consolidate your student loans one time and you will lock into the interest rate for the year in which you consolidate. The interest rate resets every July and the rate is closely tied to the federal funds rate which has dropped and will probably drop some more so ask the representative whether he/she thinks you should wait until July or do it now. Most of those reps will know what you’re talking about.
**********I just reviewed the previous entry and that looks very suspicious – stay away – they probably want to get your social security number.
~girlfriday~ on January 14, 2009 at 1:12 am
I agree with the previous post – Sallie Mae. My husband and I consolidated our student loans with Sallie Mae back in 1994 and have had no problems thus far. We got a fixed interest rate – I believe this option is still available and it’s what I would recommend. Good luck!
Jennifer on January 15, 2009 at 7:49 pm
Hi,
I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It’s legitimate.I came across this company on NBC News Special Edition.Check it out here:
sara sentor on January 16, 2009 at 12:51 pm
Among the number of companies operating for consolidating student loans in US, it is really difficult to find the one, that is genuine & not part of some scam. Loan Approval Direct, Sallie Mae, Next Student, Credit.com are some of the recognized consolidating companies providing services for many years. Log into: for more on student loan consolidation.