Can You Restructure Your Credit Card Debt Without A Lawyer

You don’t need to get a lawyer to restructure your credit card debt. Getting a lawyer to restructure your debt can be expensive because of the various litigation fees you need to pay. One way to restructure your credit card debt without a lawyer is to get a debt consolidation personal loan. A Debt personal loan if used correctly for debt reduction has the potential to reduce your financial burden by cutting down the APR interest fee by half.

Many people find it hard to pay off their credit card debts and they only manage to make the minimum repayment every month just to avoid their accounts getting sent to collection agency. You can go on making minimum repayment month after month for decades a personal loan the debt. If you take out a personal loan, you will typically be able to pay it off within 3 – 5 years.

With a personal loan , it will be within your financial means to pay off the loan because of the lower monthly payment. The more you are willing to shell out for the monthly payment, the shorter the loan term will be and the faster you will pay off your personal loan. Many online signature loans don’t charge prepayment penalty fee and this means that you can pay off your loan early without any additional cost when you have the funds to do so.

There are many lenders offering online personal loans so you should do research with a loan comparison search engine prior to applying. Using the loan comparison site, you can quickly see which personal loans offers the best lending term that suits your budget. The loan comparison site allows you to use criteria to find lenders that you can easily qualify such as credit score and postcode.

Another method to consolidate your credit card debt is to use a balance transfer card. Many balance transfer cards have zero percent intro period that last for 6 – 21 months. You should try to get a balance transfer card with the longest zero percent intro period. If you have good/excellent credit score, it will be easy to get approved for a balance transfer card with the longest zero percent intro period.

When choosing a balance transfer card, make sure you take into consideration the balance transfer fee and other fees. You must make sure that the zero percent intro period is long enough for you to pay off the credit card debts. This is because you will get charged with interest fee again after the promotion intro period ends.

By consolidating your credit card debts, you only have due date to remember every month. Many personal loans allow you to set up auto pay so that the due amount is automatically deducted from your account. Choosing to consolidate your credit card debts with a personal loan that have auto pay enables you to get discount on the APR interest rate.

Peer to Peer Loans, Are These Lenders Offering Loans To College Students

There is a few peer to peer lending platform that specializes in student loans. Peer to peer student loan is a more modern way of getting financing for college studies compared to traditional loans such as credit cards, and federal student loans. You can get a peer to peer student loan if you need funds for enrolling in an unaccredited school that will not qualify you to get a loan from a federal or private student loans. Peer to peer student loan is also suitable for students who need to pay off their college debt before they are allowed to re-enroll. The following are the top 3 p2p lenders that offer student loans.

1. Sofi
Sofi is one of the leading p2p platforms that offers loans for up to the full amount of the student college tuition fee. There are 5 loan terms to choose from 5 – 20 years. The minimum amount of student loan you can apply from Sofi is $5,000. It is available in fixed APR interest rates (3.35%-7.13%) or variable APR interest rates (2.82% – 6.74%). Sofi’s minimum credit score requirement is 650 but the average credits cores of its borrowers are 650. You must be attending a bachelor degree class in order to qualify.

To get approved for Sofi student loan, you must already have a job offer and you are to start the job in 90 days. If you don’t have a job offer, you must demonstrate that you have enough income that makes you eligible for the loan. You can get a cosignor to apply for Sofi student loan and the loan will be borrowed under the cosignor name. With Sofi, you can refinance your parent’s PLUS loans.


2. Quotanda

Quotanda is another p2p lending company that offer student loan especially for students in the IESE Business School, students from overseas countries as well as student who have signed up for coding camps. The interest rate for the loan starts from 7% and the loan term is about 5.5. years. Most of the loans at Quotanda are financed by accredited investors. Many alumnis and professors also help to finance the loans at Quotanda.

3. Greennote

Greennote is also a popular peer to peer student loan lending platform. Greennote is easy to qualify because you only need to present your student ID. There is no need to provide any collateral and you don’t have to undergo any credit check. There is no minimum loan amount and you can request a loan to finance the full amount of the student loan. Residents in the USA as well as international students can get financing for a loan at Greennote. To get a loan at Greennote, you must complete an online application at the official site. You can start fund raising at Greennote even before you start school. You don’t need a bank account as they will send the funds to PayPal.