Patrick Said:

How do you obtain revolving credit when you want to be careful with your own?

We Answered:

Credit cards aren't bad. You have to remember this:

Credit cards don't ruin people's finances. People ruin people's finances.

When used responsibly, credit cards can greatly enhance your life, most especially with regard to convenience. But they can also help you build a healthy FICO score, which you need for many, many areas of your life.

A book that I think would help you a lot is Suze Orman's "The Money Book for the Young, Fabulous & Broke ". It can give a lot of answers to someone in your situation. I also refer to it a lot, having read it over a year ago.

Here is a link to it on Amazon.com:

http://www.amazon.com/Money-Book-Young-F…

As of this posting, you can buy it used there for as low as $3.00.

HTH!

Jill Said:

Struggling to get a loan - what can I do?!?

We Answered:

Sounds like you want to get rid of that credit card debt.
But making another loan is NOT the solution.

Pay those credit cards off to help your credit.
Maxing out credit cards DEVASTATES credit ratings.
Any time you use more than 30% of your available credit limits you are reducing your score.
That's why they say it is best to pay in full each month.

Student loans: Leave them as is.
These are installment loans - not bad for credit.

Note about consolidation:
You will NEED some sort of collateral to do this - do you have assetts?
Do not dare touch any company that has the word negotiation, or settlement.
They will scam you to death.
They are there to make money FROM you - not to help you.
Most people end up with ruined credit since they don't pay your bills for months and months.
And they end up in court.
They money that you pay in the first few months goes directly in their pocket.
/

Bessie Said:

How much debt do you have? I have about $50,000, including a car loan and consumer. (not including mortgage)?

We Answered:

About $26,000. That includes our car, loan, credit cards. We also have a mortgage and monthly bills to pay but that is separate from this. That $26,000 is all our bad credit. Blahhhh....

Miriam Said:

Are you confused by comparison between Capitalist USA and Communist China?

We Answered:

No, but you appear to be.

Aaron Said:

Should There Be a "Cap" on Student Loans?

We Answered:

Well the answer to that would have to be yes, however the level of that loan should be high enough to allow the student complete their studies with some margin of ease.

Here in the UK not all 'Student Loans' have to be paid back. In my opinion the government should do all in its power to encourage young people into University Education and if that means financing those who are less well off then so be it, education should be for all not just those with a privileged background.

Let's face it, the cost of subsidising students is only a tiny amount compared with grants given to foreign countries in the form of 'aid' or the military budget.

The future of our country lies with the young!

Elizabeth Said:

How can one who's net worth is over 100 million relate to the average Joe?

We Answered:

His alzheimer's made him forget and think that he has always been poor?????

That seems like the only logic answer to me.

Hector Said:

Student Loan Interest Rates?

We Answered:

scholarships.onlinewebshop.net - it provides some tips about applying to US federal and state grants for college students.