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Post by Babycakes on Jun 6, 2019 4:51:26 GMT -4
Anyone have any experience or advice on deferring student loans? I'm in a financial crunch right now, and I'm thinking of deferring. I'm unemployed at the moment (but looking), and wonder how adversely it will effect my credit, credit score, and will drive up the interest/principle, etc. I have less than 7K to pay off btw.
Any advice would be helpful. Feel free to send a PM if you'd rather not share in the thread. Thanks in advance.
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Post by chonies on Jun 6, 2019 7:21:08 GMT -4
Anyone have any experience or advice on deferring student loans? I'm in a financial crunch right now, and I'm thinking of deferring. I'm unemployed at the moment (but looking), and wonder how adversely it will effect my credit, credit score, and will drive up the interest/principle, etc. I have less than 7K to pay off btw. Any advice would be helpful. Feel free to send a PM if you'd rather not share in the thread. Thanks in advance. If you have federal loans, it is my understanding that deferring the loans won’t affect your consumer credit. It is also my understanding that the options about deferment depend on the nature of your unemployment: since I wasn’t laid off but had a contract position end, I had less paperwork but also had fewer options. IIRC, federal loans offer something like 24 months total deferment but you don’t have to take them continuously, and i are aged for them in 3 or 4 month chunks, and would have to renew them every so often. The interest will continue to accrue on your loans. I might be wrong on all of the above, though. It’s a difficult thing to be stuck in, so good vibes for getting on top of this. The one thing you don’t want to do is avoid the situation—you’re smart to get on top of it. |
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Post by Babycakes on Jun 6, 2019 17:44:10 GMT -4
Thanks, chonies! And welcome back. I feel like I haven't seen your avatar in ages. |
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roseland
Sloane Ranger
Posts: 2,039
Mar 7, 2005 17:11:37 GMT -4
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Post by roseland on Jun 11, 2019 14:52:23 GMT -4
Does anybody have any advice about how to invest a small sum of money? A 24-year old friend of mine came across a forgotten savings account that had been opened for her as a child and it contains $5000. She’s looking to invest it but has no idea where to begin. She asked me for advice but I am clueless when it comes to anything financial. Any advice? She’s not necessarily unwilling to take a risk but I think that with a small amount she might want to let it grow a bit first so she can diversify, putting some money in high risk, some in medium and some in low. But, like I said, I don’t know nuthin’.
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Post by chitowngirl on Jun 11, 2019 16:47:29 GMT -4
Roth IRA? Since she didn’t know she had the money, she won’t miss it being tied up until retirement age.
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Post by cubanitafresca on Jun 13, 2019 0:19:23 GMT -4
Anyone have any experience or advice on deferring student loans? I'm in a financial crunch right now, and I'm thinking of deferring. I'm unemployed at the moment (but looking), and wonder how adversely it will effect my credit, credit score, and will drive up the interest/principle, etc. I have less than 7K to pay off btw. Any advice would be helpful. Feel free to send a PM if you'd rather not share in the thread. Thanks in advance. Deferring won't hurt your credit because as long as you follow the proper paperwork, you'll loan will still be in good standing. Another option might be income based repayment plan. You could get zero repayment or as little as $20. The main thing is reach out to them before you fall behind. They are pretty good about working with you as long as you're not behind. Take that from someone who majorly screwed up my loans. |
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Post by Babycakes on Jun 13, 2019 0:24:07 GMT -4
Anyone have any experience or advice on deferring student loans? I'm in a financial crunch right now, and I'm thinking of deferring. I'm unemployed at the moment (but looking), and wonder how adversely it will effect my credit, credit score, and will drive up the interest/principle, etc. I have less than 7K to pay off btw. Any advice would be helpful. Feel free to send a PM if you'd rather not share in the thread. Thanks in advance. Deferring won't hurt your credit because as long as you follow the proper paperwork, you'll loan will still be in good standing. Another option might be income based repayment plan. You could get zero repayment or as little as $20. The main thing is reach out to them before you fall behind. They are pretty good about working with you as long as you're not behind. Take that from someone who majorly screwed up my loans. Thanks so much for the insight. My payment is due on the 19th, so I have a week to contact them and work something out. I'll be contacting them tomorrow to figure it out. I don't want to put it off for too long, and accrue a lot of interest again, (I had officially made it to the principle!) but I hope I can work something out for at least a few months, or at the most a year. Just to I feel comfortable again. |
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hamhock
Sloane Ranger
Posts: 2,333
Sept 5, 2005 16:30:07 GMT -4
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Post by hamhock on Aug 13, 2021 15:49:27 GMT -4
Bumping from 2019! Wooo...
I need help from the Greecies on life insurance for me and the Mr.
Google sends me to ads that want all your info do they can have somebody call me RIGHT NOW.
No.
I want a policy that will pay off the house and one vehicle, plus some extra for expenses. We don't have kids. We have cats. We're both soon to be 55.
Thank you in advance and happy Friday the 13TH!
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Post by Ginger on Aug 13, 2021 16:42:40 GMT -4
I did not know we had this topic - thank you for bumping! I know nothing about life insurance tho.  I'm trying to work on identity protection. Any tips? Last week, I had my credit card skimmed for the first time. I think it was at a parking garage ticket pay machine which was located in an empty, unsupervised lobby. I noticed that the machine was particularly difficult to use and now I think it probably had a skimmer on it. Lesson learned. In the future, I will be using cash for that sort of thing or avoiding any unsupervised self-checkouts. I will also stop using the freestanding ATM kiosk and only use the ATM in the bank lobby. Unfortunately, my bank closed most branches near me, so this will be a pain in the neck. Some steps I plan to take: -Put a freeze on my credit with the 3 main credit bureaus (helps prevent identity thieves from opening fraudulent credit in my name) -Get alerts sent to my cell phone every time one of my credit cards is used. Right now, I get an email every time I use my corporate credit card and it's really helpful to keep track. -I'm going to start checking my credit rating once a month when I pay bills. -I also unlinked my savings account from my checking account and took it offline. I was trying to prevent anyone from being able to drain my accounts by accessing my debit card # or my online banking password. The bank representative reluctantly did what I asked, but told me he was just humoring me because it really made no difference at all. (But he also repeatedly told me that my money is totally safe and I needed to stop worrying. He suggested that I just log in to my accounts every morning and every night and look them over to make sure they are ok. I asked him why, if my money is totally safe, I would need to check TWICE A DAY to make sure it's still there.  ) |
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zwinter
Lady in Waiting
I'm in ur hed, takin' ur mind.
Posts: 273 
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Post by zwinter on Aug 13, 2021 17:12:53 GMT -4
I don't know much about buying life insurance privately, but if your or your partner's companies offer supplemental life insurance, be sure to compare those rates with whatever you find on the open market. Employer-sponsored plans often have better rates than market, especially if you're more risky (e.g., older, pre-existing conditions, etc.).
On identity theft, there are companies that will put watches on all your accounts and notify you like you're cobbling together for yourself (again, sometimes companies offer this coverage to employees--check your benefits). Companies like LifeLock or Allstate Identity Protection.
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