Review your Credit Report and Make Corrections

First get your credit report and your credit score to find out exactly where you stand. If you have recently been rejected for a loan or line of credit and have been told that your credit report was a contributing factor, you are entitled to a copy of the report from the lender that denied you. Ask for a copy so that you can see what’s going on. But for now, let’s assume that you have a copy of your credit report and you are less than thrilled with some of the information on it.
Thoroughly comb through all of the information on the report and identify anything that you think is incorrect. This can include unfamiliar accounts, late payment indications, past due accounts, etc. You have the right to dispute any information in your credit report that is not correct! In fact, it’s Imperative that you do this immediately as the items are most likely a large contributing factor to your low FICO credit score! Your report should list instructions as to how to dispute data. If not, send a letter to the credit bureau who gave you the report detailing the inaccurate information.
Repairing your credit begins with the correction of incorrect items on your credit report. Once you've obtained a copy (for free if you have been declined credit, otherwise you can improve your credit score through our credit reporting service for a nominal fee) of your credit report, review it for accuracy.
Under the law, both the credit bureaus and the organization that provided the information to the credit bureaus, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact both the credit bureaus and the information provider if you have a dispute.
Tell the credit bureaus in writing what information you believe is inaccurate. Include copies (not originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one below. Send your letter by certified mail, return receipt requested, so you can document what the credit bureaus received. Keep copies of your dispute letter and enclosures.

Pay Your Debt More Often

You probably get the same spam every day that we do - "reduce your debt now with our service!", "get out of debt fast", etc. Well, we at StudentPlatinum.com decided to get in on the action and really research how all this debt calculation works. It's not a secret - in fact, by law the calculations which determine your interest and payments cannot be a secret, it's just somewhat unpleasant math.
So, that said, here is the not-so-secret formula to reduce your debt faster - Pay your debt more often.
Probably not the closely guarded formula you were looking for, but it's true. It works on the principle of average daily balance, the billing method most credit cards use to compute interest. The faster you reduce your average daily balance (ADB), the more you'll save in interest. Here's an example. Say you have a starting balance of $1,000 on a credit card with 15% APR. If you do nothing all month and pay $100 at the end of the month, your finance charge will be computed as such:

How big is your monthly payment?

Student credit cards come in handy for emergencies as well as for many things that you'll probably regret later. If you're like most of us you're not exactly using cash to pay your way through college. With around $85 billion in new student loan debt projected this year you're definitely not alone. With the average graduate already owing $20,000 in student loans tacking on additional credit card debt- and payments, is the last thing you need.
The American Bankruptcy Institute reveals that 20% of the people who filed for bankruptcy in 2007 were college students. That’s worth restating. Out of every 5 people declaring bankruptcy, one is a college student. If you’re carrying credit card debt you need to read this article. It may hurt a little now to get rid of your credit card debt but being credit card debt free later can be life-changing. There are no easy fixes but if you’re dedicated this plan is will help you.

Student Loan Consolidation Benefits

How big is your monthly payment?Let's face it, life after graduation can get very expensive. With all the living expenses tied into post grad life, including housing costs, car payments, and relocation, why worry about a huge school loan payment? Student loan consolidation can reduce your monthly payment, and help you manage your budget.Take advantage of these benefits: * Reduce your monthly payment by as much as 53% * No penalties for early repayment * Improve your credit score * Simplify your monthly bill-paying paperwork with one payment a month * No credit check, no co-signers needed, and no fees * Consolidation loan interest is Federal Income Tax Deductible

How Student Loan Consolidation Works

We are here to make the student loan consolidation process easy by providing information and support via the web and phone. The following step-by-step guide will help you understand how consolidation works and how it will benefit you for years to come.Step 1: Apply for ConsolidationThe first step in consolidating your student loans is applying for a consolidation loan using our free, no-obligation application form. When you apply, you'll have the choice of receiving an application and information packet via eSignature or postal mail. Your packet will contain a consolidation application, as well as information about your discounts, and details on how your interest rate is computed.Step 2: Locate Your Student LoansAs a result of recent changes at the Department of Education, you'll need to provide your student loan information with your consolidation application. There are several ways that you can locate your student loans and our loan counselors will gladly walk you through each process.Step 3: Sign and MailOnce you have reviewed the promissory note, and understand the terms, you will sign and return it to us. Either by eSignature online, or by sending the paper application back in our pre-paid envelope.Get Started – Easy Online ApplicationStep 4: Application ProcessingUpon receiving your signed application, your loan counselor will check the application for errors. We also check to make sure it complies with all federal guidelines set forth for federal loan consolidation. This ensures that your application is completed quickly and accurately.After your application is submitted for processing, the loan retrieval" begins. We contact your lenders for the exact amount you owe; this information is sent to us on a loan verification certificate, or LvC. This process can take up to 60 days depending on the response time from your lender(s). Once we have valid LvC's from your lender(s), we will send them a check for the balance of your student loans.Once the check is sent to your lender(s), your loans have officially been consolidated. You will receive a new statement from us detailing when your first payment is due, and when each payment is due thereafter. Your previous lenders can take a week or two to close out your accounts, so do not be alarmed if you get a statement from us, and a statement from your old lender. This is normal.Your first billing statement from us will include the automatic checking account withdrawal enrollment form. It will also include information on any other discounts you are eligible for. Your consolidation will now appear on your credit report. Your previous Stafford loans are paid in full. This is why consolidation is a smart idea for your credit rating - it shows that you have successfully paid off all your existing Stafford loans, which reduces the number of loans you owe, and shows you successfully paid off a series of debts, both of which increase your credit score.

Get Started – Easy Online Application

Federal Student Loan Consolidation Payment Relief
One of the key benefits of consolidating your federal school loans is payment relief. By combining all of your student loans into one consolidated loan, you can lengthen your repayment term from the standard 10 years to up to 30 years, depending on the amount of your education debts. With a lower monthly payment, you'll have more money available to meet other living expenses, including car payments, housing expenses, and career-related necessities. Because there are no penalties for overpayment, you can make larger payments and reduce your repayment term when it becomes affordable. Learn more about how student loan consolidation works in this step-by-step tutorial.Consolidating with Student loan Consolidator
Get one-on-one personalized customer service. Our loan counselors will educate you on the benefits of federal student loan consolidation and help you determine if consolidating is the right choice. We will explain the consolidation process and the repayment options that are available to you.What Qualifies for Federal Student Loan Consolidation?
Federal loan consolidation can include Federal Stafford Loan consolidation, PLUS Loan consolidation, Direct Loan consolidation as well as Perkins Loans, HEAL Loans and all Federal FFELP and Direct Loans taken to pay for your education. Private student loan consolidation is different - You will lose your federal loan benefits if you consolidate your federal loans into a private loan consolidation.