Consolidate College Loans: Pros and Cons

By Torrie Cantor

Like all types of loans, when you consolidate college loans, you get its advantages as well as its disadvantages. Consolidation of college loans should occur right after graduation and before you enter into your field of profession. By consolidating your student loans, you combine multiple loans into one.

How Student Loan Consolidation Works

It's actually very easy and simple. When you borrow a number of student loans from different lenders when you're in school, you might have a hard time keeping up with all the payments. By consolidating loans, all your student loans are combined into one new loan from one lender, at a lower interest rate, and even longer time to repay. Although this might sound enticing, it is best if you consider the benefits as well as the drawbacks so you can make a good decision.

Consolidation During Grace Period

There are two sides to this issue. The good thing about this is that you can receiver a lower consolidation loan interest rate if you consolidate variable-rate Stafford loans during your grace period (six months after you leave school before you start making payments). However, the bad side is that when you start consolidating your loans during grace period, you forfeit the remaining grace period and have to begin making payments on your consolidation loan within 60 days. To solve this, you can consolidate your loans during the later part of your grace period.

Repayment Period Extension

Repayment period can be extended up to 30 years basing on your total education loan debt. This means that your monthly payments will dramatically decrease. If you're having a hard time coming up with the monthly payments, then this will be good for you. However, by stretching your debt over a longer time, you will be paying more interest over the life of your loan. In the end, you'll be paying more for your loan in the long run. That's why it is better if you settle your accounts with the shortest repayment period possible that you can afford. And, there's no penalty for prepayment so you can pay even before the payment is due.

One Payment From One Lender

On the good side, consolidation will really simplify your life. You only have to deal with payments to one lender, and is thus less hassling to you. On the downside, you could be giving up some benefits that your current loans provide such as loan cancellation and deferment eligibility.

If you're convinced of consolidating your loans, think and try to weigh these things in mind. These are just some of the things you have to consider before you consolidate college loans. It's up to you to decide if the pros outweigh the cons, or the other way around.

About the Author:

Discover why it's good to consolidate college loans. See more info on school loans consolidation online.

3 Ways Do I Find A Quality Debt Consolidation Company

By Frank Froggatt

When a tough circumstance comes along and you discover yourself all of a sudden unable to pay your debts there are numerous places to look for help with debt reduction. You'll do anything short of selling an internal organ or two; or your kids, you just desire those creditors and collectors to stop phoning your house, your business, your boss, your parents, and you wish you could get that burden off your shoulders.

The answer to the upsetting state of affairs that you are in may be consolidation debt help. Before you get to excited about it you should first off learn what it is Even if you don't decide to go with consolidation debt help, you need to do something else to get yourself out of debt or else that tension will take its toll.

Finding A Company

There are numerous consolidation debt help companies out there. There are ads on the radio and on TV and there are even consolidation debt help Internet sites that you can subscribe to.. Go online and do a look for anyone who has tried these services before and read their opinions.. You'll often find web sites devoted to other individuals in debt giving vent their frustrations or announcing this or that company for how speedy they assisted get that person out of debt. More often than not you will run across an Internet site that has a lot of people in the same situation as you either complimenting or flogging the chosen company, these are essential sites to get a feel for a companies repute. After you have found the company that you wish to use, either call them up or login to their Internet site and fill in your info. They will contact you briefly after that.

Who Do You Owe?

The way consolidation debt help operates is all of your debt is combined. That signifies all your charge card debt, your medical bills, and everyone else you know; all of this debt will be combined. Then, your income will be tallied. Make sure you're totally genuine with the individual assisting you so that you can effectively get the consolidation debt help.

After all of the computations have been produced the counselor will give you the sum of your monthly payment. Your debt company will make sure that the money is extended out among your creditors and you will be given an estimate of the time it will take you to be debt free. Most often, it will take three to five years or more to get you out of debt with consolidation debt help. But often the consolidation debt help can get you out of debt faster than you commonly would.

The Downside

There is a downside to consolidation debt help. When you get debt assistance this way, you are telling coming creditors that you cannot be relied upon to get out of debt alone. They will consider you as a gamble even if you entirely get out of debt. If this fact doesn't trouble you because of the severe spot you are in now then this could truly be a good option for you.

About the Author:

Don't struggle under the burden of debt any longer. It is time to get the financial aid you deserve. Find a reputable debt consolidation company now.

Top Tips of Get Out of Debt

By Anne Durrel

There are many ways to get out of debt easily. The first thing that you must do is commit to spending less overall.

Many that are tempted by the impulse to "spend now" generally end up accumulating tons of debt. There are two important systems to expending and that is, if you are not able to disburse for it at the moment, do not buy it.

The next systems is, if you can't manage to pay for it, don't purchase it. If you fancy to get out of debt, follow these two simple systems. It is also essential to ensure that you evade expending more than you make overall.

A few persons expend according to bonuses and "possible" overtime. Most of the time, these folks get themselves in debt. Follow the simple regulations, and you may get out of debt easily .

The next step you can take to get out of debt is to not set yourself up for debt. This means that you should avoid using credit cards and acquiring loans unless it is absolutely necessary. Many will use credit carelessly simply because it is convenient.

You must shun doing this unless you are in a situation in which the definite cash is not there. If you want to get out of debt, it is important to make certain that you do all that you can to pay the debts that you have punctually.

This contains utility debts, credit card debts, house expenses, and even car expenses. If you heed the advice contained here, you are definite to get out of debt rapidly!

About the Author:

About author: GetOutofDeb-t.com. If you are looking for quick, simple solutions to get out of debt, this helpful article can provide some great tips!

What Is A Personal Injury Attorney?

By Richard Black

A personal injury attorney is a qualified legal professional that specializes in helping people who have been hurt by the actions of another person or thing that belongs to another person. So, for example, if you have been personally injured in a car accident then this kind of attorney could help your legal claim against the driver of the car that harmed you.

These kinds of attorneys can help you with a variety of legal claims following injury or accidents that happened accidentally or as a result of negligence on the behalf of another person. So, for example, if you are jogging in the park and you are bitten by someone's dog then you could have a case for suing the dog owner for negligence as he/she did not adequately control their pet.

The kinds of services offered by attorneys here will vary according to the circumstances of your injury. In some cases the attorney will look to claim damages for any physical injury that is caused to you. In others they may also/instead claim damages for injury to your own property. In the case of a car accident, for example, the attorney could claim for any physical damage to your person and for any damage that was also caused to your car.

Damages here can also involve mental harm as well as physical injury. If you, for example, suffer some mental trauma or serious upset resulting from an incident then this could also be claimed for by an attorney in this field.

Although most attorneys here will deal with individuals there are also many incidences when your attorney will sue a business or other entity rather than a single person. You could, for example, slip and injure your back in a restaurant because the floor was wet and the restaurant did not put up warning signs to give you fair notice to watch your step. Here, your attorney could sue the restaurant owner for negligence. Medical malpractice (i.e. claims against doctors, hospitals and dentists) are also common in this section of the legal industry.

In some cases you will pay an attorney up front retainers and a fee in the regular way to get this kind of representation. Here, the money that you pay the attorney is set at his or her standard rates to retain their services. Nowadays, however, it is quite common to work on a 'no win, no fee' basis.

This kind of payment system means that you only make a payment to the attorney if they win your claim and you are given some form of monetary compensation. In this case you will then pay the attorney a set percentage of the money that you win rather than a standard flat fee and upfront retainer.

Nowadays it is quite easy to find whole firms of attorneys or individual specialists who only work on personal injury claims and cases. You may also find, in some cases, that you can work with a regular attorney who handles personal injury cases as well as other types of litigation work.

About the Author:

Richard Black helps people learn about locating chicago personal injury law firm at his guide on finding a chicago injury attorney

Car Insurance Advice for Young Drivers

By Tom Martens

One of the biggest days in any teen's life is the day they get their driver's license. But with that tiny piece of plastic arrive huge responsibilities. One of those responsibilities is auto insurance. Every newly licensed driver must arrange for adequate auto coverage.

But car insurance for teen drivers can be very expensive. Teen drivers are considered high risk drivers due to their inexperience, which means they can expect to pay high rates for their insurance premiums. Don?t let that stop you from earning your driver?s license, though. With careful planning, teen drivers can find ways to save money on car insurance.

The first step a teen driver should take is to get several quotes from licensed insurance providers. Different providers define risk in different ways, which means some providers might charge higher insurance premiums for teen drivers than other insurance providers. There is also much competition in the insurance business, and if an insurance provider knows you are talking to a competitor, they might be willing to offer you a better rate on your insurance premiums. But you have to ask and be willing to negotiate. The internet makes doing research and shopping for insurance much easier than it was in the past.

If you haven?t done so already, look into taking a basic or defensive driving course. These courses show insurance providers that you are serious about safety behind the wheel, and this makes insurance providers more likely to lower your risk level when assessing your driving record for an insurance premium. Talk to a qualified insurance provider about what courses are available and what courses are eligible for an insurance discount.

Ask your agent if your company offers discounts to good students or students belonging to a club or organization. See if they extend a discount if your parents belong to a club or organization. Inquire about other possible discounts. This is where it's helpful to check on the net before you see your agent.

Another way to get a discount on your auto premiums is bundling. If your parents insure their lives or home, sometimes the insurance company will bundle all your policies and give you a great price break. This discount may apply not just to your policy, but to the home and life policies, too. And see whether the insurance company offers lower premiums to households that have multiple drivers or own multiple cars. This is another good way to lower insurance costs.

If you are a newly licensed teen driver or will earn your driver?s license soon, contact a qualified insurance provider. They can answer whatever questions you may have about car insurance, examine your specific situation closely and make insurance recommendations so that you are properly insured and protected behind the wheel. It will take some time, effort and research, but you could end up saving a lot of money on your insurance premiums, which makes the investment worth it.

About the Author:

Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.

Family Trust Basics: What Is An Estate Plan?

By Janet X

Estate planning involves considering how assets are to be passed from one generation to the next. The usual components of an estate plan are Wills and Memoranda of Wishes. A Will is a document that deals with an individual's personal estate upon death. A Memorandum of Wishes is a letter written to Trustees of the Trust to describe how assets are to be dealt with within the Trust.

A common mistake is not to link Wills and the establishment of a Trust. As a accountancy and legal practice we often see individuals who have established Trusts but have not prepared new Wills to reflect this. In this instance, they often have existing Wills prepared many years before that pass assets to spouses or children personally upon death. Once a Trust is established such a Will is flawed for two reasons.

First, you do not want assets to pass to surviving spouses or children personally when they can be directed straight into a Trust free of gifting restrictions. That is, it is important to note that any bequests under a Will are not subject to gift duty.

Second, given that a Trust has been established and the individual is seeking to minimise, their personal estate their Will has become redundant to a certain extent.

Broadly speaking, the objective of an effective Will is to direct assets into the ownership of the Trust on death. This will prevent assets from accruing in the hands of the surviving spouse and family members and also prevent gifting programmes from being extended. Having directed all assets into the Trust, it is then under the Memorandum of Wishes where instruction is provided as to how the assets of the Trust are to be dealt with.

A Memorandum of Wishes is not a legally binding document. It is a letter written to the Trustees of the Trust, describing the settlor's wishes as to how Trust assets are to be dealt with.

The key to an effective Memorandum of Wishes is to provide the Trustees with instruction to consider the asset protection requirements of any beneficiaries when making distributions from the Trust. For example, if a beneficiary is in a relationship, the Trustees should consider the stability of the relationship and the desirability of passing assets through to the beneficiary individually, where they could be subject to a relationship property claim in the event of a separation.

About the Author:

Janet Xuccoa BCom LLB, is a director from Gillgan Rowe + Associates. She is a recognised Family Trust and LAQC expert in New Zealand where she leads the Trusts and Estate Planning division. Want to protect your assets and grow your wealth? Get your Free Family Trust Report: "The 9 Deadly Sins of Setting Up a Family Trust

What is Foreclosure

By Doc Schmyz

Your mortgage is one of the most important bills we have to pay every month. Besides credit card bills, we also have to make sure we don't miss our other monthly payments. Unfortunately paying with plastic makes it difficult to track our expenses and easier to splurge on shopping sprees. When we fail to pay the mortgage; foreclosure happens and we lose our home.

So what is a "Foreclosure"?

When you miss a number of payments; your mortgage lender has the right to foreclose on the home by selling or repossessing the property.

In most cases the usual number of payments that borrowers miss before their house goes into foreclosure is 3 months. In other cases the lender may accelerate the payment to give the borrower a chance to settle his or her debt/catch up on missed payments. In this case however they will require the borrower to pay all the missed payments at once.

Lenders can choose several types of foreclosure.

Judicial foreclosure

The lender sues the homeowner. If the owner of the house does not respond to the lawsuit the lender wins. The property is then put up for auction. A court official will be in charge of the auction. Participants will have to compete with the mortgage lenders bid. If no one out bids the mortgage lender he repossesses the house. Otherwise, the deed will go to the highest bidder.

Foreclosure by the power of sale

The deed of the house goes directly back to the mortgage lender. The house is then sold by a real estate agent. Proceeds earned from the sale will be used for paying off the amount owed by the former homeowner.

The deficiency judgment is the amount left after the proceeds from the sale cover the mortgage owed by the previous homeowner. The previous homeowner is liable for it.

Strict foreclosure

The court orders the borrower to pay the mortgage in a certain period of time. If the borrower fails the property will go directly back to the mortgage lender without any obligation to sell it. In this case (as silly as it sounds) normally the tenants are evicted from the home via the local sheriff, and then the house sits empty until such time as the lender can sell it. (In the event it is a rental property,and the tenants are NOT the owners,they are still forced out in most cases.)

Judicial and foreclosure by power of sale are the most commonly used methods in United States. Other states use other methods. Strict foreclosure was originally used but is now only utilized by a few states such as Vermont and New Hampshire.

About the Author:

Doc Schmyz has done real estate deals all over the US. He built a free free website shares Real estate investing information for all over the US. Find Real estate investing information by state

Taking Advantage of Short Sales to Avoid Foreclosure

By Tomasheus Privetsky

In difficult real estate sales markets, one of the tools used by lenders to minimize the financial losses associated with foreclosure is a short sale. Short sales are often utilized when homeowners with high mortgage balances are in arrears and unable to bring loan payments current. A lender can either proceed to foreclose upon the property, or can try to convince the homeowner to list the property for sale to pay off the outstanding loan balance.

If the owner is willing to cooperate and sell the property, lenders will often settle for an amount far less than the current balance owed on the mortgage loan. Lenders would rather give homeowners a shot at selling the property below market value before running a foreclosure auction. When a home is sold at a price that won't net enough proceeds to pay of the entire mortgage balance, this is called a short sale.

Though it may seem surprising, many lenders will authorize the sale of a home at a price that will not pay off the existing loan balance that the lender is owed. These short sales are lender-approved sales in an attempt to avoid foreclosure. By facilitating a short sale, lenders mitigate or minimize the losses suffered as a result of foreclosure.

Why would a lender allow a short sale if it will result in monetary loss for the lender? The lender is trying to lose less than it otherwise would if the home were to go through the actual foreclosure process, since foreclosure itself is extremely expensive for the lender. Foreclosure involves legal fees, loss of interest income, the cost of evicting the homeowner, back property tax balances, plus insurance and real estate commissions. Short sale results in the lender losing less money than it typically would with a lengthy and costly foreclosure proceeding.

This is why negotiated short sales may often bring the lender a higher net amount than a home acquired through foreclosure and resold later. Lenders have taken so many REOs (repossessed houses) they are now facing enormous costs, time, and losses as these non- performing assets are sitting on their books. But the foreclosure costs aren't the only thing that creates an enormous pressure on lenders.

Lenders are also pressured by city and county governments to keep vacant foreclosure properties in good condition to stave of vandalism and drug related crimes. Some municipalities even file lawsuits against lenders that fail to maintain vacant REO properties in good repair. This risk is another reason why lenders increasingly prefer short sales over foreclosure proceedings.

Many lenders try to get rid of their large inventory of REO homes by making huge price cuts. Still, many lenders have found that owning a large inventory of foreclosure properties is more of a burden than it is worth. This is why lenders are increasingly reluctant to avoid foreclosing on homes if there is any other alternative available. Short sale has become such a widely used option that many lenders now have staff on hand whose job is to negotiate short sale offers submitted on foreclosure properties. Lenders are taking every possible step to avoid adding to the ever-growing burden and expense of owning vacant foreclosure properties.

When you are buying a house through a short sale you have an opportunity to get a property in foreclosure at sizable discount before the foreclosure auction. Keep in mind, the short sale can only happen with the approval from the lender. If you're a real estate investor you can either sell it at profit or you could use a short sale bargain as a rental and enjoy a higher than usual cash flow.

But why would a homeowner agree to a short sale? With so many homeowners out of work and unable to pay their mortgages, more and more homeowners are facing the real possibility of foreclosure.

For homeowners with few resources to make often high payments on an over-financed home, a short sale is sometimes the only way to easily exit the situation. For investors, a short sale can be a path to a profitable return on the sale of a foreclosure home.

About the Author:

short sale strategies can help your foreclosure business and make your short sales negotiations a success.

Is student Loan Consolidation Right for Me?

By Dennis Powell

Reducing education debt through student loan consolidation is a common path for many former students. Consolidation is a great option for many people, but borrowers need to look at their overall financial picture to ensure that it's right for them. You're going to be paying on your student loans for the next several years to take time to find the best consolidation option rather than just jumping into the first program you're introduced to.

Loan consolidation can benefit a person's credit rating. Lower monthly payments, flexible repayment options, and fixed interest rates are all benefits of managing student loan debt through a consolidation program, and can help borrowers develop a good credit profile while meeting their responsibilities.

Minimum monthly payments on student loans can be high especially for borrowers with entry-level positions. Many consolidation programs allow graduated repayment schedules which allow the borrower to make lower payments upfront and higher payments as their income grows. Graduated monthly payment programs are a nice option for borrowers with high income growth potential.

Education loan consolidation candidates who start work immediately upon finishing their college careers may want to consolidate to lock in interest rates. Upon consolidation borrowers give up many of their deferment options and begin making payments within 60 days of their consolidation loan signing. For borrowers on sound financial footing the loss of deferment options may be a worthwhile trade-off to lock in a low interest rate.

Lower interest rates on private consolidation loans may also be available for borrowers with outstanding personal credit ratings. Some consolidation programs base their interest rate on each borrower's personal credit rating allowing those with excellent personal credit history to lock in a low rate for the duration of their consolidation loan. If your credit rating has improved during your school career you may also find that you can lock in a better rate than you had initially on your private loans.

The simplicity of consolidation is another reason many grads choose to put all their loans together in one package. With a single consolidation loan recordkeeping, monthly payments, and tax statements are easier to manage allowing the borrower to focus on their career instead of their debt load. The time-saving a consolidation loan provides is often a benefit in and of itself.

It's important for each borrower to look at their total debt portfolio when choosing their consolidation options. Consolidation is not the best choice for everyone. Particularly borrowers with low total balances and manageable monthly payments may be better off to keep the present laws in place and just keep up with their loans. Avoid taking the easiest path or consolidating just because everyone's doing it the sooner you pay off your loans the better off you'll be.

There many consolidation options for people with education debt. The typical former student will carry their student loans with them for several years after leaving school. A conscientious borrower look at their total financial picture when looking for a consolidation option that works for them.

About the Author:

Consolidate your student loans to save time and money. Dennis Powell specializes in writing about federal government student loan consolidation.