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Money: budgeting and saving tips

Home » Month: August 2016

Down-payment when financing through a CU

It is always better to have money to do a down payment. But, the last car was on a whim and I did not and I have a CU. Call and ask them what the difference would be for the two different loan amounts for what ever you can put down.

my son [ 20 ] just financed a car with a credit union. he was not a member thereof. he is a member at another/different one [ totally different, not just a different branch !!!]

anyhow they financed it and he did have a down payment. then a week later the carsalesman called him and now he owes another 600 for a downpayment, since [ appearently ] they do the financing/ downpaymant on a sliding scale.

I have no clue beyond this, since he did this on his own, with my inlaws support. i was not privvy to info and just heard about this in passisng.

School loans question

My son has a school loan in default. How would he go about making payments now, when they only want a lump sum (which he doesn’t have obviously) and won’t speak to him about any other option.

Thanks for any direction.

It may not be important but, what happen that he defaulted on it? Does he have other bad debts also? There are so many variables about what his other situations are.

He may be able to get a personal loan to pay it and then pay off the loan, since they won’t hear about a payment plan directly to them. This may be a good option, if he has accounts in good standing with a bank he uses. Does he work full-time?

Or it may be a matter of perseverance, where he goes to the top of ladder in the financial office at the school and explains the situation to someone else. It’s always worth a chance and not give up very easily. Obviously he’s an adult and knowing what I know about parents wanting to help their children, you should also be careful about how much you help. It’s probably a great lesson for him about why defaulting on a loan was a mistake…for whatever reason.

Does he live in your home or is he on his own?

I had a similar situation where I defaulted.

I wrote too them and told them why I did and i asked if we could start payments again. They set it up and I pay $100.00 a month.

I think your son should write and not you. It may look better, being he is a student and it was his loan.

Write to:

American Education Services
Customer Service Divison
1200 North 7th Street
Harrisburg, PA.
Attention: default loan

They have a website but I often find it too not be too good. I am not sure where you are located, but I am in Florida and just found out from a girlfriend that works for NelNet about a company that he can consolidate with and take the loans out fof delfault. They will add 18 % to it, but when he gets in a better place with his money he can offer to pay it off. She said they will normally take it if it is not too far fetched.

Home improvement loan

Hallo ,

our house is paid for a while now . during the bad hurricane season we had the eyes of 3 hurricanes go over our house . we have roof damage and need to replace the roof .

does anybody have a suggestion to a good home equity lender ??? any good suggestions what to look for ??

i would appreciate any help and maybe phone numbers ???

thanks !

Good luck with this. I have a great deal of equity in my house and was trying to get a home equity loan from Wells Fargo with whom I have banked for nearly 30 years – NO DICE!

Yeesh! My fella and his CU cc got JUNIPER and CompUSA done off me. I’ve only to pay HIM. Good! His 12% interest per year will be easier to handle here. He says $150.00 a month is fine by him, and that is a little under half of what I would have had to pay them separately.

He and I both see CHASE and Capital One going the way of BOA/MBNA