Thursday, December 20, 2012

Special Direct Consolidation Loans

When a student graduates from college or another type of a continuing education school more than likely that student will be in debt with student loans. With the cost of schooling getting more and more expensive every year the amount of debt for a student can be quite high. Often times the student will need help in figuring out how they are going to make their payments. This is where a special direct consolidation loan comes in handy.

What Is A Special Direct Consolidation Loan

This is a program that was created to help give students with student loans a chance to combine all of their student loans for people with bad credit into one. This would give them one monthly payment instead of having multiple payments to make every month as well as having one fixed interest rate.

Eligibility For This Loan

The students that are eligible for a special direct consolidation loan must meet two pieces of criteria. This criteria is that they should have at least one loan that is a government help direct loan as well as having at least one commercially help loan which is guaranteed by the government.

Are These Loans A Good Idea

The answer to the question of this loan being a good idea is strictly up to your financial situation. This loan will give you the advantage of having only one monthly payment as well as one fixed interest rate so this will help make your monthly bills a little more manageable. Another advantage is that this loan program does not affect your credit score and you still have the option of getting out of debt quicker by making extra payments every month.

As with any other financial decision you should take the time to research this loan program. As with any other loan there are pros and cons. You should know exactly how the program works and how it will affect you before accepting the terms.

Applying For A Special Direct Consolidation Loan

If you know that you are eligible you should contact the US Department of Education. They will also determine your eligibility and if you meet the criteria they will have a servicer contact you. These servicers are: FedLoan Servicing also known as PHEAA, Great Lakes Educational Loan Services, Nelnet and Sallie Mae. When speaking with one of these servicers you should be sure to be honest with your financial situation and give them all of your loan information. If you are not honest they will not be able to get the proper loan set up for you.


Once you have found out that you are eligible and apply for the unsecured personal loans you can check your status by calling the customer service telephone number. It will take some time but once you have been approved you will be in a much better financial situation.

Wednesday, December 19, 2012

Business debt options - Best possible ways to get rid from it

In this day and age, businesses are having a generally hard time and the need to keep on top of your finances as a business owner is more than imperative. There are other companies out there that will be happy to jump on you as soon as something goes awry in terms of finances, and it’s up to you to be able to deal with them if that time ever comes.

Those in retail will have felt it the hardest in recent years, but almost everyone has been affected by the crippling effects of the recession. Even the most established or organisations have had to close their doors permanently, but with the right guidance and available options, you can steer your way out of debt and other financial qualms.

Business loans and business debt are the most common place areas where companies fall down, even though these are often necessary evils to help a company develop and go forward with new strategies. The problem is, is that the businesses’ income has to match repayments, which to some regard is what Business Debt Management Help is all about.

Business debt management, if implemented effectively, can help irradiate debt over time and there are several ways to be able to achieve this.

A plan can be applied that allows smaller repayments to ensure that they meet your monthly income and maybe even the capacity to freeze any further interest on the account. If this is possible, you’ll be able to avoid announcing bankruptcy.

The business may also be able to receive early invoice amounts in order to have early income going into the company’s account; this can enable you to get at least a percentage of an invoice that wouldn’t normally be due until the end of the month.

Other options include applying a commercial mortgage on any property owned by the business, as well as selling property and assets that isn’t integral to the business. Going through business debt management may also alert a potential investor who, if you’re lucky enough, will be able to write off your debts through buying the company.

The ability to show where the company fell down financially will be able to be told by companies such as and is a great way to be able learn from past mistakes.

Sam writes for, a company who offer business debt management & advice.