Archive for the 'Personal Finance' Category

What does it mean when my student loans have a zero balance due to a claim?

Monday, August 3rd, 2009
river85715 asked:

My student loans are through NelNet and I received a letter from NelNet instructing me to stop making payments. The reason they give is that my student loan account has been paid by a claim and now has a zero balance. I have had student loans since 1995; but I also have filed bankruptcy. What does all this mean? What claim paid my loans off? Did I or someone else get sued for the money?

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Posted in Personal Finance | 2 Comments »

How can a student with several loans get approved for a home loan?

Monday, July 27th, 2009
Anna H asked:

I am currently a student with several student loans out in my name. I have a good credit score but am only able to work part time due to school. I make enough money to cover monthly rent with my boyfriend. We want to get into a house but I fear my loans and low income will make it difficult if not impossible for us.

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Posted in Personal Finance | 4 Comments »

Can I put my student loans on a credit card and then declare bankruptcy?

Wednesday, July 22nd, 2009
kleo asked:


I’m swamped in debt, but have good credit and lots of it. I was thinking about putting my student loans on my credit card (using those handy, low interest checks I get in the mail) and then declaring chapter 7 bankruptcy. Will this work? It seems like a great plan to me. I know it will be on my record for 10 years, but I don’t care about that. I’d rather be out of debt completely and then move to another country and start over. Has anyone gotten out of their student loan debt this way?

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Posted in Personal Finance | 7 Comments »

Should I pay off student loans or start a retirement account?

Monday, July 20th, 2009
BeenThereDone That asked:


I just graduated from college and will start to have to pay student loans within the next 5 months (about $13k) . I am also very interested in starting out a retirement account soon. I have been told that I can open an IRA for as little as $50 a month. Should I start to pay off the debt or start a retirement account? What is the best place to invest? I am 23 years old.

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Posted in Personal Finance | 5 Comments »

What is the best bank to consolidate student loans with?

Thursday, July 16th, 2009
javajunkie asked:


Hello. I am a recent law school grad with 120k of student loans (both private and federal) and I’d like to find out a way to consolidate my loans and hopefully lock in a lower interest and payment rate. Does anyone have any good advice on which bank to chose and how to go about consolidating? thanks!

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Posted in Personal Finance | 3 Comments »