Re: Debt Consolidation Loan? Student w/ 10k CC debt, but about to make
 

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bump for any novel ideas?

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Well, if you're willing to get your parents or a relative involved, you can get one of them to get a 0% credit card in their name and add you as a secondary cardholder. They should have no problem getting a 10K or more limit. At that point you could do balance transfers to pay off your other cards.

I could understand them being a little hesitant about that, but it would be very easy for them to do and cost them almost nothing depending on their credit status and how much 10K would affect their credit score. That would probably be the lowest cost option for both you and them, assuming that you could definitely pay off the 10K a year from now. It would be cheaper than them cosigning a loan with you, because obviously you would have to pay at least 6-7% interest on that. It would also be cheaper than them loaning you 10K outright because they'd be losing the 5% they could be getting on that money.

I can totally understand why you would not want to ask parents or a relative for financial assistance, but I think that is going to be your only real option given your credit status and lack of income for about a year. Pretty much I think you're going to have to suck it up and ask for help or just be willing to take the monetary hit. That might not be what you want to hear, but I really don't think there are any creative solutions out there.

Re: Debt Consolidation Loan? Student w/ 10k CC debt, but about to make
 

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bump for any novel ideas?

[/ QUOTE ]

Well, if you're willing to get your parents or a relative involved, you can get one of them to get a 0% credit card in their name and add you as a secondary cardholder. They should have no problem getting a 10K or more limit. At that point you could do balance transfers to pay off your other cards.

I could understand them being a little hesitant about that, but it would be very easy for them to do and cost them almost nothing depending on their credit status and how much 10K would affect their credit score. That would probably be the lowest cost option for both you and them, assuming that you could definitely pay off the 10K a year from now. It would be cheaper than them cosigning a loan with you, because obviously you would have to pay at least 6-7% interest on that. It would also be cheaper than them loaning you 10K outright because they'd be losing the 5% they could be getting on that money.

I can totally understand why you would not want to ask parents or a relative for financial assistance, but I think that is going to be your only real option given your credit status and lack of income for about a year. Pretty much I think you're going to have to suck it up and ask for help or just be willing to take the monetary hit. That might not be what you want to hear, but I really don't think there are any creative solutions out there.

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Yeah, this was the next route I was going to explore. Since my interest rates are so high, I was gonna offer to repay them plus 5%, and it wouldn't even be a full year. My parents have awful credit, so it'd have to be my aunt, but I need to wait until I have a solid firm offer before I ask her, because I wouldn't feel comfortable until I can say, I will be working X job and making Y money.

Re: Debt Consolidation Loan? Student w/ 10k CC debt, but about to make
 

It seems like the rates you currently have on your cards is pretty low. I was going to suggest prosper.com, but I don't think you'll save much after fees since your current rates are pretty low.
If you have a really close family member with a house, maybe they would be willing to take out a HELOC for you and you could just make the payments on that. They of course would benefit come tax time.