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Student Loan Refinancing

Want to refinance your student loan and get out of debt? Student Loan Consolidation information

Are Student Loans Dischargeable When You Fill for Bankruptcy? (Student loan refinancing)

Sunday, March 25, 2007

Save More on Your Student Loan Refinancing by Applying Online

Tip! Your student loan refinancing either could help you get out of debt, or could sink you down to more debt. There are numerous financial-aid institutions, which are non-credible, that aims to steal money from innocent people.

Getting Started:

Easily Compare and Contrast Student Loan Refinancing Lenders

The lender you choose will make an incredible difference in the total repayment amount of your loan. There are hundreds of lenders, each offering different incentives that equate to wide spectrum of overall savings. Researching lenders online by using search terms such as "student loan consolidation," "student loan refinance," or "consolidating student loans," allows you to build a side-by-side comparison of potential lenders and the benefits and savings offered by each.

Narrowing your Search:

Comparing the Benefits of Student Loan Refinancing Companies Online

After retrieving the results of your keyword search, it's time to cut through the hype and compare the facts and figures that impact your overall savings. Doing online research makes it simple to cut and paste critical information into an Excel sheet or Word document to compare companies side by side. Some important things to pay attention to are:

  • Experience
  • Incentive Offerings
  • Published customer service number
  • E-Sign Application
  • Loan Specialization Type

Understanding your Savings:

Using Online Calculators to Determine your Potential Savings

Calculating interest rates and the effects of incentives over the course of a 10-year repayment period is a complicated calculation to figure by hand. However, the web gives instant access to numerous online calculators specifically designed to calculate savings associated with student loan refinancing. Running some numbers through these specialty calculators will present a full picture of the dollar savings that you can expect to receive with each lender.

The Application Process:

Save Time and Hassle by Applying for Student Loan Refinancing Online

Thanks to the internet, there's no need to drive around town and fill out application forms after waiting your turn at a financial consultant's office. Applying for student loan refinancing online affords you the convenience of applying in your own home on your schedule. Many lenders offer the added convenience of e-sign, meaning there's no need to worry about printing or digging up a stamp; just click, e-sign, and send.

Tip! You will find easy steps to take as well as breaking news you need to read that is going to have a huge impact on student loan refinancing and consolidation by the first of next month. I can't stress enough the importance of getting started right now in order to secure the lowest interest rates you can get right now because after next month you can expect to pay up to 20% or more in interest than what is presently available today.

Tracking your Application

Applying Online Allows you to Track the Progress of your Student Loan Refinancing

Most internet-savvy student loan refinancing companies give you the opportunity to log in and see the status of your application as it travels through the loan process. Because your application and the lender's decision are sent instantly via secure internet, your time spent waiting and wondering is reduced to minutes instead of weeks.

Start Saving:

A Quick Student Loan Refinancing Process Means You Start Saving Sooner

Finding a knowledgeable company with a streamlined online application process means you can start saving before your next loan payment is due. When it comes to student loan refinancing, time literally is money. Unlike the pre-internet days, you can literally reduce your student loan payment by the end of the day. Start your search now by exploring these money and time-saving resources:

Comparison Chart Template: Compare and contrast your choice of lenders side-by-side http://office.microsoft.com/en-gb/results.aspx?Scope=TC&Query=comparison+chart

Consolidated Student Loan Repayment Calculator: Quickly calculate your savings after student loan financing. http://www.scholarpoint.com/PaymentCalculator.aspx

Glossary of Terms A reference guide to more than 300 terms specific to student loan refinancing http://www.scholarpoint.com/ResourceCenter/Glossary.htm

ScholarPoint Financial, Inc. is a national online consumer lending company specializing in student loans. We believe in combining state-of-the-art technology with world class service to help students and parents easily gain access to data, become informed, and enjoy the process of obtaining a college loan. Learn more about Student Loan Consolidation at http://www.scholarpoint.com


Read more about
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Are Student Loans Dischargeable When You Fill for Bankruptcy?
Tip! Pay all of your bills on time. Bankruptcy is a means to financial recovery. 1f96 Student debt and “undue hardship” If you are buried deep in debt but your debt is mainly student debt you may want to reconsider bankruptcy since almost all student loans are non-dischargeable. The law is clear when it comes to student [...]
Tip! Pay all of your bills on time. Bankruptcy is a means to financial recovery.

1f96

Student debt and “undue hardship”

If you are buried deep in debt but your debt is mainly student debt you may want to reconsider bankruptcy since almost all
student loans are non-dischargeable. The law is clear when it comes to student loan debt: Unless repayment causes the debtor
undue hardship, courts won’t allow discharge of student debt.
The above is applicable to Chapter 7 Bankruptcy and Chapter 13 Bankruptcy too. So in order to be able to get discharged from
student debt you’ll need to meet the “undue hardship” requirement.
This concept implies an excessive poorness caused by the debt that would affect the ability of the debtor of paying for basic
needs. The main difficulty is to prove undue hardship.

A bit of history

Student Debt used to be more easily discharged in the past. However, due to abuse, Bankruptcy’s legal requirements were
modified and now it is extremely difficult to get discharged.
The abuse consisted on filing for bankruptcy immediately after finishing college, thus getting discharged of their student
debt prior to joining the workforce.
When this practice became common, lenders complained and got the administration to modify the rules that controlled bankruptcy.

Discharging Nowadays

Currently, the exception of hardship includes government loans and nonprofit organization loans.
So it has become even more difficult to get student debt discharged. Besides, not only has the debt to disrupt the debtor ability to maintain an adequate minimal standard of living but the debtor must have tried by every possible way to repay the
debt.

Tip! The first step in learning how to file for bankruptcy is to make a comprehensive list of all of your creditors and outstanding debts. When you are working to determine how to file for bankruptcy, you need to appreciate that if you to proceed with a bankruptcy case, you must be sure that all of your debts are disclosed and listed in a bankruptcy petition.

Co-signer Responsibility

Even if the debtor meets all this requirements, any co-signer who subscribed the loan with the debtor won’t be covered by the
hardship exception and thus will be the sole responsible one for the debt repayment.
This is one of the lender’s main securities and explains why most of the student loan lenders require a co-signer in order to grant a loan.

Final considerations

Filling for bankruptcy or not is a decision that has to be intensively meditated and must be substantiated in the need of a fresh new start when there is no other choice.
If a bankruptcy won’t discharge your student debt, and if your student loans are the main constituent of your debt, then it
makes no sense to suffer all the bad consequences associated with a bankruptcy without being able to enjoy the benefits.

Tip! If I file for bankruptcy it may cause more family troubles than I already have, maybe even divorce.

However, if your income is too low, your debt won’t let you even breath and there is no other way of recovering from this
situation, you may be able to convince a court that due to the excessive burden your debt has turned into, it should be discharged.
That way, you’ll be able to get a fresh start and become debt free.

Mary Ann Wise, a professional consultant with more than twenty years in the financial field, is currently committed to helping people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers
from falling into the hands of fraudulent lenders.
In one of her websites: http://www.badcreditloanservices.com you will find more useful tips and interesting articles on this
subject and other financial related topics.



10:03 AM

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