Can I put my student loans on a credit card and then file bankruptcy?
Kiro from Mass. asks: I’m over my head in student loan debt, but have good credit and lots of it. I thought up a plan to put my student loans on my credit cards and then file bankruptcy on the cards. What do you thing? Is this a good idea? It doesn’t bother me a bit that the bankruptcy will be on my credit report for 10 years. I’d rather be out of debt completely and then move to another country and start over. If anyone has ever used this method to get out from under massive credit card and student loan debt, I’d like to hear about it!
Categories: Credit Tags: 10 Years, Chapter 7 Bankruptcy, Credit Card, credit card debt, debt, Declaring Bankruptcy, Handy, Interest Checks, Low Interest, Mail, Student Debt, student loan debt, Student Loans
Will student loans affect my mortgage applicaton?
Linda R. from Ohio asked: I have $80,000 in several student loans, but since I consolidated all my student loans, the monthly payment is approximately $400. Other than this student loan, I’m debt free. Do mortgage lenders view student loan debt differently than other types of loans? Also, what other factors will they look at when determining my qualifications for a home loan?
Categories: Renting & Real Estate, student loan advice Tags: become debt free, dave ramsey, debt free, Flexibility, home loans, investing, Lenders, Mortgage, mortgage application, pay off your student loans, Student Debt, student loan consolidation, student loan debt, Student Loans, will student loans affect my mortgage application