samson5791 asked:


Does the federal reserve charge commercial banks the current rate, which they (commercial banks) have to pay to loan out money at whatever their rate would be to consumers?

Matthew

bradster1200 asked:


I’m 18, and going for a consumer loan. I cannot get my parents to co-sign (I can’t get it myself because I have absolutely no credit), I’m 99% sure they won’t co-sign because they are not willing to risk their credit. Is there any way to guarantee that they will not get screwed? The loan will be for a car. Is there a way to (if I failed to make payments, and they had to),legally have the car be property of theirs? If you have any suggestions on how to virtually guarantee my co-signers credit score will stay the same; PLEASE, tell me.

Oh, and the loan is for anywhere from $2,000 to $3,600. I, as already stated, have no credit history. I have a job (making plenty enough to make payments). I’m also going to college if it matters.

Bobby

curious126 asked:


Here’s the situation: I have about $30,000 (of $114,000 total) in 3 student loans at 7.5% (variable rate). These loans are private and that’s why I could not consolidate them. I have a balance transfer offer for 4.99% until paid off on one of my credit cards and am tempted to transfer as much of the 30,000 as i can to that card. I don’t use this particular credit card for anything else, so this would be the only balance on this card My concern is that this will show up as consumer debt on my credit report as opposed to education debt. Anyone know what kind of impact this will have on my credit score? Worth the saved money in interest and consolidated payment? Any other advice or commentary?

Jorge

Lyn93 asked:


I am overwhelmed with loans, Credit Cards, and bills. The thing is I have decided to go through Consumer Credit Counseling to have my interests on my loans lowered and pay off my loans, and the Credit Cards which are now in collections. I cannot handle this debt on what I make, because my job has cut hours, and cut completely out overtime. I was told by someone who went through Credit Counseling, and she sent them the money that they were suppose to send the different bill collectors to pay their debt, but the Credit Counseling took too long sending out those payments, and she received numerous of calls from her debtors. Eventually the money was sent to her debtors, but it caused her credit to look worsier on her Credit Report, than if she would of handle it herself, because they took too long sending the payments. My question is, Is getting help from Credit Counselors the way to go?

Aaron

mom24athome asked:


I want to eliminate the rest of my credit card debt. I see the ads for debt management services where they work with your creditors to reduce your interest rates, then combine all of your debt together, where you pay them one payment per month. My husband thinks this will reflect negativly on our credit report. Has anyone ever done this, and were you succesful in eliminating debt? Did it affect your credit rating in a nigative manner? I think that most people in America today, have alot of consumer debt, but I see many poeple who aren’t worried about it, and only pay the monthly minimums each month. I have been there before, but I am ready to pay it all off. What do you think? I would love to hear from anyone who has used these services before, or any other great idea to pay it all off, without taking out any more loans. Thanks!

Karen

Jeremy G asked:


I just lost both of my cars that I was paying a total of $841/mo. on. My wife is going to be quitting her job because of childcare issues, tension levels in the family, and all the stress that’s been building up from playing “tagteam” with watching the kids over the past 2 months. I get at least 15 calls a day from credit card companies asking where their money is. I incorrectly filed my taxes in 2005 (filed a Schedule K-1 online with Liberty Tax, and apparently I was missing a Schedule E form), so now I have a tax debt of almost $10,000. I will be making just enough money to pay my mortgage, utilities, food, and gas for commuting to and from work (70 miles a day). I am behind on every credit card I have, a Home Depot Consumer Loan, student loans, medical bills, everything. I also live in a suburb of Austin, TX in case anyone was wondering. I don’t know the bankruptcy laws well enough in Texas, and I need major help. Should we file for bakruptcy, and if should which kind of bankruptcy?
I believe most people are thinking that I’m a big spender, but I’m actually more of a tightwad. I don’t buy latte’s at all or have any weekly or daily habits with spending money on food, my wife cannot work due to the fact that everything she makes goes towards paying for childcare, and even still we’re short. I am a general manager of a restaurant, on salary, and I cannot get another job because I have to have open availability. I lived on credit cards and did things like paying my water and electric bills with them, not going out and buying a big screen tv or anything of that sort. Like I said,I am relatively frugal, it’s just childcare mostly that screwed me and now I’m up to my ears in debt because of the decision for my wife to stay at work.

Edgar

Kayla B asked:


Just answers on bad credit loan companies that really work?

DWAYNE

KC asked:


It seems that most of the firms advertising to specialize in bad credit loans are scams - predators just waiting to rip innocent people off! Does anyone know of a reputable firm that actual offers loans to people with bad credit without requiring money up front for the loan? If so, please let me know.

FREDERIC

belle11128 asked:


My credit score is a 450 and I need to get a loan for approximately $10,000. My credit score is poor because I had to take over some debt from an ill parent. I am in the process of getting my credit back on track. I have searched the internet for hours and find articles on how easy it is to get a bad credit loan. So far I haven’t found any of these sights. Any help would be greatly appreciated. Thanks!

GRADY

imluvnit35 asked:


an unsecured bad credit loan of 10,000 dollars is needed very quickly so if anyone knows please leet me know thank you.

BRET