more on consolidating

[kyillee]

So based on some info on the Sallie Mae website it looks like loan consolidation of private loans (the majority of my debt) has a few advantages: "In general, there are two advantages to consolidating your private loans. First, you get the convenience of making just one payment, as all your private loans have been 'collapsed' into one new loan.

Comments

[kyillee]

That's what I'm trying to do for federal ones now (just apply and see what they say...). But I can't tell... do they then ask if you really want the loan, or what? Cause from the website it reads like just apply and if you get it you get it. I want to be able to say no.

As for the private ones, I'm not sure if there is harm in that. I mean, if right now there is something in my credit record that shouldn't be there (which there might be), I'd rather they don't look at my credit record until that is cleared, in case they keep a record of it or something. I have no idea how that stuff works.

[kyillee]

What would a promisory note look like?

Hmm... for some reason I think there are free ways to get credit reports? Not sure though.

[clarkekid]

Hey, if you can get the lower rate... go for it. :)

[kyillee]

I'm just wondering if now is the time to get it... cause if I have stuff on my credit rep that shouldn't be there, I'm thinking it might be lower if I wait til that clears up.