Itama Po Natin – Segment 319

Q:  Should I borrow student loans from a personal loan company?

A:  Ok, if you want to be in debt forever, this will be your nightmare.  As it turns out some of my clients have taken out personal loans in order to finance their children’s education.  This may suit your situation if you become insolvent in the future and have to file bankruptcy.  In the U.S., you cannot include student loans in any form of bankruptcy, nut you can include personal loans.  In Canada, you have to be out of school for 7 years before you can include it in any insolvency programs.

So, what is the right answer?  If in your current situation, you are in good standing in order to secure student loans for your kids, that is what I would advise you do.  Student loans have lesser interest rates than personal loans.  Unless you are not in a financial condition to help your children with their student loans, I would still not encourage anyone to take out a personal loan in order to fund their education.

Let me tell you about an old client who I tried to help because he did exactly what I just said.  He ended up using his home to pay off his debts.  He ended up selling his home and used the equity to pay off the debts because he was being sued by every lender he borrowed money from.  Just like I said, if you are in a financial situation to take out a student loan for your children, then do so.  It’s not worth the headache in the end.

Ating lesson, Tumulong ka na nga, napahamak ka pa!

If you need help in getting out of debt, call Debt Aid Consulting.  We help with Credit Repair while and after your program.  We do not use call centers which keeps your information safe.  We have a new program that reconstruct debts for half of what you would pay our competitors.  We also provide legal assistance that keeps collectors away.  We take Federal Credit Unions, Payday loans and high interest personal loans in our program too.  This is exclusively available for Debt Aid Consulting clients.  None of our competitors provide this program.  You are well protected.

We only provide Federal Trade Commission compliant programs.  Debt relief companies who charge non refundable upfront fees are in violation of the ban.  Go with Debt Aid Consulting!

Do not fall for marketing gimmicks saying that they have the right program for you.  Most marketing companies only have one program and will enroll you in that program whether it fits you or not.  So beware!

Ben Lou at your service!  I have over 30 years of real financial experience.  If you would like sound financial advice, call us at Debt Aid Consulting.  We do not use call centers like Financial Rescue.  No one has the right to put your information at risk.  Say no to LLC corporations in Canada!  Debt Aid Consulting is the first and only Filipino debt restructuring company incorporated in the US and Canada.

Now serving the Caribbean Islands!

Tawag na posa 1-888-341-5234 at tutulunganponamin kayo.