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Debt consolidation

Debt consolidation

kriswiens's avatar User  kriswiens  (Opens a pop up layer) Occasional Visitor

Does USAA have consolidation loans? My husband and I are in the process of moving, buying a new home (with Movers Advantage) and we are pre-approved for USAA mortgage.  I am starting a new job with a significant pay cut. We would like to consolidate some of our debt (about $23,000) to make just one payment. We understand the risks of consolidating debt with there being a right way and wrong way. My husband and I have high 700 and low 800 credit scores, we are very disciplined in our budget, but need to get some debt broke down, since our monthly income is decreasing. Any info would be very much appreciated! 

Thanks!

Re: Debt consolidation

Mike Rat38's avatar User  Mike Rat38  (Opens a pop up layer) Visitor

KRISWIENS-

 

I consolidatede some stuff many years ago with no problem through USAA.  Really want to get things going great?  Get the book by Dave Ramsey and find the radio station in your area he is on.  YOU CAN GET TOTALLY DEBT FREE IF YOU REALLY WANT TO.

 

I was in the credit card rut many years ago but learned trhe key to becoming debt free and now owe no one.  Even have my house and cars fully paid of.  My wife and I have had top credit scores for years.  We have one credit card only, USAA :-) just for credit score.  Every dime we put on it is paid in full each month.  If you think you can have even one card and pay the minimum.  You will never ever be free.

 

 

Get Daves book and live his advice.  Owing no one in this world yet having a nice house and cars is terrific.  My sons are all college grads and all are debt free also.

 

GOD BLESS AMERICA.----- The US has been pushed into a really bad situation financially and I think there are some Democracy busting moves on the way.

Re: Debt consolidation

kriswiens's avatar User  kriswiens  (Opens a pop up layer) Occasional Visitor

We have actually read his book. We were given it to go through during our pre-marital counseling. I love his principles....every time my husband and I come across another credit card offer, we both scream CHEETAH! hahaha. I know his model of live like no one else now, so you can live like no one else later, but I think consolidating to one payment will help us right now. 

 

Thanks for your advice. 

Re: Debt consolidation

BrianaHartzellUSAA's avatar User  BrianaHartzellUSAA Community Manager

Hi Kriswiens,

 

I am not a financial expert, but have found some similar questions that have been answered by two of USAA's financial team:

 

https://communities.usaa.com/t5/Financial-Advice-Q-A/Debt-consolidation-is-it-for-me/qaq-p/7563

https://communities.usaa.com/t5/Financial-Advice-Q-A/Should-I-consolidate-my-debt/qaq-p/16419

https://communities.usaa.com/t5/Financial-Advice-Q-A/We-are-considering-a-debt-consolidation-loan-fo...

https://communities.usaa.com/t5/Financial-Advice-Q-A/We-are-trying-to-consolidate-our-bills-is-it-wi...

 

If you would like, you can give one of our advisors a call at 800-771-9960 and they can help you explore USAA options on this front.

 

Good luck on your move and with your home buying endeavors, what an exciting time!

 

Thank you for posting!

Re: Debt consolidation

Debi85's avatar User  Debi85  (Opens a pop up layer) New Member

My husband and I are looking to move debt to one place. We own our home and have been paying on it for 8 years. We have one daughter who is a Junior in college. Her post 9/11 scholarship will not cover her senior year. We will need about $15,000.00. She is applying for scholarships and to be an RA.

 

We would like to move all of our unsecured debt (Less than $20,000.00) to USAA so that we can have it in one place. Do you have any programs like this?

Re: Debt consolidation

AngelaCabanUSAA's avatar User  AngelaCabanUSAA Community Manager

Hi Debi85!

 

I did some digging around online, and I would recommend you give one of our financial advisors a call at: 1-800-771-9960. They will be able to better assist you in regards to the programs you mentioned below.

 

Thank you for posting in the community. Best of luck!

Re: Debt consolidation

S3ri0s's avatar User  S3ri0s  (Opens a pop up layer) New Member

You don't help anyone. It's a simple yes or no question. 

Re: Debt consolidation

S3ri0s's avatar User  S3ri0s  (Opens a pop up layer) New Member

All repeating the same thing. Most people who get themselves in these situation have realized how they got into them and have already fixed or are fixing the problem and debt consildation is very convinent to have all payments paid at once. 

Re: Debt consolidation

[ Edited ]

DBL J's avatar User  DBL J  (Opens a pop up layer) New Member

Hello.  My husband and I are in a considerable amount of debt.  We have over $35,000 in credit cards, student loans, personal loans, auto loans, etc.  I am a student and my husband just lost his job.  He still works side jobs in construction so we have an income, it's just inconsistent.  We currently have a few bills that are late by at least 30 days which would need to be included in any type loan we received.  We have over 10 different creditors that we are paying each month (including utilities, etc.).  Our credit is fair/poor.  What advice do you have on debt consolidation? 

*  I have been a USAA member for many years.

 

Sincerely,

 

Jennifer xxxxx

Member # xxxxxxxxx

 

 

Re: Debt consolidation

[ Edited ]

AngelaCabanUSAA's avatar User  AngelaCabanUSAA Community Manager

Jennifer,

 

Thank you for reaching out to us here in Community. I am no financial expert, so I would highly recommend you give our Financial Improvement Team (FIT) a call. They help members with Debt Management, budgeting and building and maintaining good credit. If you would like to speak to this team, please call (800) 245-9360 between the hours of 8am-6pm central time.

 

Thank you, best of luck to you!

 

*To protect your privacy, I have removed personal information from your post.*

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