I have a private loan from school that has a minimum payment of $608.00 a month. Only $25.00 of that goes to the base balance so I'll be paying it off well after I'm 100 years old! This makes no sense to me and the company won't budge. Whats the best way to pay this off? Should I get another loan from a bank and pay that company off? Don't let your kids go to art school if you're poor T_T
2006-12-08 09:23:20 · 2 answers · asked by puzzletoad 1 in Business & Finance ➔ Credit
File bankruptcy. If theres anything you want, go ahead and get it on credit before you go in to file!
2006-12-08 09:28:18 · answer #1 · answered by jeff_is_sexy 4 · 0⤊ 2⤋
I do not know about that loan in particular. One would need to see a lot more about the structure of it to make any suggestions. I am planning to pay off my student loans aggressively and found Dave Ramsey's Total Money Makeover to be an amazing source.
You can find his web site at the following URL:
http://www.daveramsey.com/
You may wish to e-mail him or call his radio show.
I hope you can find a way out of your debt.
2006-12-08 17:40:53 · answer #2 · answered by Patrick C 3 · 0⤊ 1⤋