There is cause for celebration and there is also a strong call for explanation today. With debt consolidation and student loans in addition to the effects of the brand-new as of today (August 20, 2010) CARD Act on both of these entities it is important to understand what’s in store for you on both agendas. If you are currently straddled with an old student loan that has been defaulted upon and is almost certainly in the hands of maybe the fifth or sixth credit collection firm that is under contract with the soon-to-be defunct branch of the Department of Education handling those two loans then you are in need of some up-to-date information. This is exactly what we have for you in today’s consignment regarding debt consolidation and student loans in 2010 and beyond.
School Days are Here Again
First and foremost the CARD Act has many provisions that update and correct many issues of past credit card greed and monopolistic activities. It does not matter what you read in from this point on in any other review of the CARD Act just know the truth of the matter and that is the credit card empire is still going strong. It does happen to be some easing of the reigns so to speak and that comes from past credit card balances and annual percentage rates that cannot be hiked unless 45 days notice is given. Please have a look below at the new credit card act laws and legislation as it applies to student loans so that you will know a little something about this new piece of legislation.
· Students Under 21 Cannot Qualify for a Card without a Co-Signer
· Unless they Show they Have Enough Income to Cover Debts
Schooling the Old-Fashioned Way
The ability to not rely on plastic to fund any or even a small part of the college education experience is a great step forward for the United States of America and their educational pursuits. Many students and parents should applaud this action as now the forces behind signed to be to either participate in a college work study program and actually warp or get a job after school hours. Doesn’t that sound refreshing and is not kind of reminiscent and taking a walk down Memory Lane for many of us old-timers? Is it time to become schooled in debt consolidation as well? We think it most certainly is that time!