How to Consolidate Student Loan Debt - The Bills.com Blog

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How to Consolidate Student Loan Debt

Question: My son has a car and a mountain of student loans. He needs to get his payment down on his car. He owes $18000 and pays $330 a month What can we do to get out of this payment.

Answer: First, your son should consider consolidating his student loans through a consolidation program, which are offered by many student loan companies. Consolidating his student loans could significantly lower theinterest and monthly payments on his student loans, which could save him enough money each month to allow him to continue making his regular auto payment. To find out more about student loan consolidation, I encourage you to visit the Bills.com Student Loans Information page at http://www.bills.com/student-loans/

In addition, if your son visits https://www.bills.com/studentloan/loan/ and submits his contact information, we can have pre-screened student loan consolidation providers contact your son to discuss the consolidation options available to him.

Your son may be able to save money on

his car payments by refinancing his current auto loan, which could lower the interest on his current loan and extend the loan term to lower his monthly payments. Auto refinance loans are especially helpful for consumers who may not have obtained the best loan terms when they initially financed a vehicle. However, auto loan refinancing can be difficult, depending on his credit rating and on the value of the auto. To learn more about auto loans, you should visit the Bills.com Auto Loans Information page at http://www.bills.com/auto-loans/

Additional information about auto refinance loans can be found at http://www.bills.com/refinance-car-loan-articlebills/

Again, if your son submits his information in the Bills.com Savings Center, we can have pre-screened auto lenders contact him to discuss the refinance options available to him, and how an auto refinance loan could improve his financial situation.

Generally speaking, the student loan debt consolidation should free up enough cash-flow in the short-term to let him meet his other obligations.

I wish your son the best of luck in resolving his financial difficulties, and hope that the information I have provided helps him Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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