How to consolidate my private student loans with bad credit.?

I have student loans with sallie mae. I have around 76,000 with private and federal student loans. I have ran out of forberence. I had to use my forberences in the past because of no job or not enough money to make payments. Well...now my payments is over 1500 a month. I will be starting a new job next monday. I will be making around 2000 dollars a month. My wife and I and my mother have a house together and our morgage is 1775 and i also have a son. As you can see theres no way I can make that high of a payment. i now have very bad credit because of the student loans. My mother was also the co signer for the loans and she has bad credit. My wife dosnt have very good credit also. I guess you can say that I dont have another co signer to use. I am trying and stressing on how to pay my loans and getting my credit back. If anyone knows or can give any advice please please do.How to consolidate my private student loans with bad credit.?
Sounds like you want a chance to get your loans paid back and restore your credit to a healthy level. Have you talked to Sallie Mae to explore all options and help get your monthly payments to a manageable level? Give them a chance to help - they will. Call toll-free at 888-2-SALLIE and provide them with your account number. Tell them exactly what you've blogged here and ask them for help on repayment options, including consolidation for both types of loans.



If you haven't consolidated your federal loans yet, that might help you. You don't need a cosigner to do that. And you can typically consolidate as long as none of your loans have defaulted. If you can consolidate your federal loans, try to get a deferment called ';financial hardship deferment.'; Then you can focus on paying down your private loans. Hope this helps.How to consolidate my private student loans with bad credit.?
If the loans are in default, your best bet is to work with the current lenders to restructure them. If they are not yet in default, you may be able to do a consolidation loan. Generally credit is not an issue with consolidating the loans, as long as they are no in default.



A couple of places I recommend are Chase Bank, they have a student loan division you can reach through http://www.usadegrees.com/consolidate/ and Student Loan Advisors at http://www.StudentLoanAdvisors.com



Good luck with getting everything straightened out. It's certainly stressful, but it's better to be proactive than reactive in matters like this.
Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.A bad credit%26lt;!--student loan is payable only after the student has completed his or her education, and has started earning a certain minimum amount. You can find more information on Student Loan here,



http://badcredits.awardspace.com/student-loans.htm



The minimum amount that the candidate of the bad credit student loan is required to earn has also increased. Bad credit student loans are available as both secured and unsecured loans--%26gt;depending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.
Banks and finance companies make a lot of money from consolidation loans. Since they all are offering the same product, the only way that they can compete to get your business is to offer incentives.



You need to shop around to see which bank will offer you the best incentives. Different banks will give you different incentives such as lower monthly payments, cash back, etc.



Here are some sites I'd check, including your current lender who might try and cut you a deal to keep you:



http://salliemae.com - your current lender and a major student lending company

http://financialaid.com - student loans and consolidations

http://finfo.com - receive up to four competing offers from banks with no obligation



Make sure you explain your situation and tell them that your shopping around for the best deal. That should get you the deal that you want.



Good luck!
You need to talk to various student loan companies and see if they will consolidate your loans and let you make a lower payment. I use Citibank, and I have found them to be extremely helpful and responsive. I have heard bad things about Sallie Mae and their ridiculously high payments, but you may be able to talk to them about at least lowering your payments. Student loans are not supposed to bankrupt you, but you are expected to pay something back each month. See if they will work with you to lower your payment. Citibank's website is www.studentloan.com. Check them out and see if they can help you.
';SCAM ALERT'; Beware of all advance fee scams on the internet. Never send $ up front via western union,money gram,bank/wire transfer to any foreign country in hopes of getting anything in return.You won't,you will get 100% guaranted scammed if you do.

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