Yes, you can. However, you may be just delaying the issue without solving the cause, because you eventually will have to pay the loan. In addition, you are adding the costs of fees, interest rates, late payment charges, and compounding interest to the cost of your original purchase. If you choose to do this, cut up all but one card and pay that one off each month. This will help you improve your credit rating and help you avoid taking student loans for other expenses.
No, you cannot. They will not allow you to pay it off with a credit card.
In the US, the only way to get a co-signer off your student loan is to pay off the loan perhaps by consolidating the loan.
I heard you can write off you student loan if you put it on your house/line of credit. But i thought you could do that anyway. Anyone know?
You can't. A student loan is for educational purposes only. Yes you can! Go to (a private loan website) for a private loan! You can get the money you need for other college expenses. And non-college expenses! And completely fraudulent purposes!
If you get a loan, pay off credit cards and keep the loan payments current until it is paid off. Your CR will be pretty darn good.
To pay off loans and debt, be sure that you are paying more than the minimum payment. Stop using your credit cards and pay for everything with cash. When you see actual cash going out, you will me less likely to spend.
Many times the money for a student loan is transfered directly from the lender to the University. Therefore you would be unable to do this. If your parents have high interest credit cards, the best thing to do would be to refinance your home or get a home equity loan. These are available to many people even if they have bad credit, they just have to have equity in the home. Another option would be for them to goto a credit consoling agency. They may be able to help them pay off their credit cards or get the rate reduced or payments combined. Henry
You cannot pay the credit rating bureaus to improve your credit rating. However, you can improve your credit rating by paying your bills on time and paying the full required amount due. If you can put additional money towards paying off your mortgage, car loan, student loan or credit cards, this can also help.
Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com Any default is going to stick around for about 7 years.
You can build up your credit score with credit cards by wisely using your credit every month and paying it off in full every month. By paying off your cards, you slowly build up your credit score.
Its best to have only a few credit cards to no credit cards. Say you have 4 credit cards with a 500 limit on each and a zero balance, There is the potential for you to charge 2000.00 whenever you want. When you have so much available credit, Lenders are scared to loan to you, Therefore hurting your credit. Best bet: If you dnt use 'em, Lose 'em.
There are many ways to pay off student credit card debt. Some of the ways to pay off credit card debt are borrow against life insurance, get a home equity loan, renegotiate the term with a creditor and many more.
I would recommend starting off by pulling your credit report from all three credit reporting agencies.
Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.
Always pay off the one with the highest interest rate first. If you own a home you can refinance and take out cash to pay off your credit cards. I have no doubt that the interest rate you get on a refinance of your home loan will be lower than your current credit card rates.
how can it get free money to pay off my credit cards
It would depend on the type of student loan. Federally guaranteed student loans have no expiration under existing laws, and will indeed reappear and can be collected on and sued over until they are paid.
It doesn't hurt your credit to pay off a loan early.
If you are referring to the monthly payments you make for a certain period in connection to a credit card loan, it is called monthly amortization.
You will need to check with your bank to see if you quality for a loan. This is a good idea if you can qualify if you can get a lower interest rate from the bank that the rates on your credit cards.
I'm pretty sure if you have defaulted on a previous student loan, you cannot get a federal student loan again. maybe you could get a private student loan, but the rate you'd get would suck cause your credit probably sucks after defaulting on that other loan...sorry.
YOUR CREDIT CANNOT GO DOWN? UNLESS YOU FORGET TO PAY THE LOANS ON TIME. IN FACT YOUR CREDIT WILL GO UP AND YOU'LL BE ABLE TO BUY MORE STUFF AS THE LOANS ARE PAID OFF.
A consolidation loan will pay off all of your bills and give you one payment. This program will only really work if you cut up your credit cards and have discipline.
If the credit cards are in HIS NAME ONLY, then no. You do not have to pay them off.
Probably not very much. Credit scores are built around paying on time, how much you currently owe, and how long you've had credit. Paying off a loan won't raise your score much, but an on-time paying history for that loan will be a real good thing for your score and report once it appears.