I have roughly $7,000 in medical debt that is on my credit report and because of this my credit score is incredibly low. I also have about $14,000 in debt to my divorce attorney and $9,000 in student loans(that has not been reported to a credit collector).
I would like to consolidate and pay off everything at once, but I'm afraid of the interest rates. I would attempt the Dave Ramsay snowball effect, but I want to get it gone. Would it be better to consolidate & eventually refinance for a lower interest rate in the future, maybe consolidate the medical debt & use the snowball effect for the rest, or should I try to practice patience & use the snowball effect for everything?
Thank you for posting in the Community. We recommend calling in for financial advice from USAA. They can talk through your situation and offer options to help you achieve your goals. Please contact us at 210-531-USAA (8722). We look forward to helping you reach your financial goals.
Good luck. If you are working hard to clear up debts, studant loans, etc. and you are taking on many jobs or getting more than one payroll check. beware USAA will potentially think you are running a business thru their banking accounts and close and freeze your money. making it your liability to make those payments while they casually send you a check in the mail.
A local bank will do you much better, as you can go in and sit down and talk to someone with real compassion you can see, vs fake stuff on the phone. They are holding over 60K of my money that I am waiting to see so I can pay my taxes and go back and unbounce my checks.
Yea advice is all your going to get from USAA especially if your credit is less then perfect, I tried to consolidate two high intrest loans where the intrest rate is over 20 percent, one loan from them could have saved me about 400 a month, of course all they care about is numbers just like everyone else, they see a low credit score and just tell you sorry you were declined for a loan, its no wonder why its no wonder why online lending sites are so popular, the bank that you were with for 10 years doesnt care about saving you any money, once I find a better bank, its time for me to get rid of of USAA. They are diffently not in the members service department. FIND A BETTER BANK PERIOD.
Skipperjack - I appreciate your patience while this was reviewed. I attempted to contact you, however, we weren't able to reach you. I've sent a secured email to your online message center in reply. To access it, simply click your name and scroll down to Notifications. - Cathleen
Thank you for posting in the Community. USAA is committed to providing our members with financial security through a full range of competitive financial products to go along with world class customer service. We regret to hear this is not what you encountered. Your experience will be shared with our Member Feedback Teams for review.
We hope you will consider USAA for your future financial needs.