Comments on: Are Debt Consolidation Loans a Good or Bad Idea?

By: Erin Karraker

Erin Karraker — Sun, 30 Aug 2009 18:33:13 +0000

Hey Joe,
Here is the website I was telling you about- http://www.ibrinfo.org. Its called an IBR, income based repayment. The article is from The Southern, June 26 of this year. It said that anyone with a federal student loan can apply for this program and if you equalify then it caps your monthly payments, based on your income, and forgives the remaining balance after 25 years. It seems a little too good to be true. Let me know what you think. Thank you!!!

By: -> Should I Do A Debt Consolidation Loan? Important Things To Consider Before You Do. | Bible Money Matters

Mon, 10 Aug 2009 15:25:51 +0000

[...] reason I haven’t written about debt consolidation until now is because in most instances I’m not a big fan of doing debt consolidation. Many of [...]

By: Mouli Cohen

Mouli Cohen — Wed, 29 Jul 2009 19:33:06 +0000

This is great coverage of an issue that has devastated thousands of households since the housing bubble burst. If only there had been coverage like this in 2005!
Mouli Cohen´s last blog ..Mouli Cohen on the Importance of Art

By: Joe Plemon

Joe Plemon — Tue, 28 Jul 2009 17:16:39 +0000

Matt,

Thanks for giving us the tip on Lending Club. I am looking forward to hearing more of how your process works.

By: Matt Jabs

Matt Jabs — Tue, 28 Jul 2009 16:39:28 +0000

To kick “normal” debt consolidation loans & BIG BANKS to the curb, I recently consolidated my debt via LendingClub.com

I didn’t accomplish anything toward the end of reducing my debt, but I did accomplish the following:

1. I am now paying interest to individuals instead of the huge banks whose practices I have learned to abhor.
2. I have secured a fixed rate that is very much lower than my existing credit card rates & am no longer suseptible to them raising my rates at the drop of a hat for whatever reason they can concoct!

I cannot give a TOTALLY solid recommendation of LendingClub.com yet because it’s too soon to tell, but I will be able to let you know in a month or so after I’m fully involved w/the process.
Matt Jabs´s last blog ..Investment Risk and How To Determine Risk Tolerance