General Growth Judge Approves Plan for Restructuring Debt Bloomberg
16.12.09
Dec. 16 (Bloomberg) -- General Growth Properties Inc. , the
second-largest U.S. mall owner, said it won permission from a
bankruptcy judge to restructure about $10.25 billion in debt at
some of its shopping centers and office buildings.
The Chapter 11 plan approved yesterday by U.S. Bankruptcy
Judge Allan Gropper extends the company’s various loans, making
none due before 2014, according to a company statement
distributed by Business Wire. The plan covers 103 properties and
87 loan agreements. It leaves six more sets of properties, each
with a number of leases, under court protection, Anup Sathy , a
lawyer for the company, told the judge.
Confirmation of General Growth’s plan is significant
because it resolves concerns about potential bankruptcy problems
at other real estate companies that have also tried to shield
assets using special-purpose entities, Gropper said in court
earlier yesterday.
“Confirmation of these plans of reorganization is a
monumental step towards completion of GGP’s overall corporate
restructuring,” Thomas H. Nolan Jr. , the company’s president
and chief operating officer, said in yesterday’s statement.
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How does student loan debt affect my credit score?
Apr 29, 2008 by Fly girl | Posted in Credit
I am at the final stage of paying off credit card balances. Just one more month, yippee!!!! I've also already paid off my car loan 7 months before the maturation date. Anyway, I still have close to $50,000 in student loan debts- federal and private. But that's it. I have never had any major credit problems. Will all this student loan debt have a negative impact on my credit score and rating?
I always make the payments on time every month.
As unfair as it seems, they do lower your score abit. I have a pretty good score, but my student loans have affected it negatively alittle bit. When I asked about it, its because its such a long loan. Like, Sallie Mae gives you 10 years to pay it off. Even though thats not bad because its in agreement with Sallie Mae & that is very normal for a student loan, it counts as "too long to pay off a debt" on a credit score which I think is crazy.
victorianroses0 | Apr 29, 2008
that is a lot of money in student loans. even though you pay your bills on time, just the fact that your overextended can hurt you.
luciousgreeneyedlady | Apr 29, 2008
You have the legal right to check your credit report once a year, from each agency, for free. So you could just find out your credit score. Some people check each of the 3 credit score agencies every 4 months, giving them a regular peek at how their credit is doing. Here is the link --
https://www.annualcreditreport.com/
Asynjur | Apr 29, 2008
read this mate. It will tell you all
http://loans-guru.com/things-you-should-know-about-your-credit-report/
baddog372001 | Apr 29, 2008
Yes any loan and cc affects your credit if you don't pay it on time. You can consolidate your student loan through ezconsolidation.com students loan consolidation program. They are reliable
There are many benefits available for the students as you can extend your payment period upto 30 years and so on.
So consolidating your students loan would be a best option from my point of view
Ignacio | Apr 29, 2008
Hi,
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://doiop.com/di10gd
Jennifer | Apr 29, 2008
What is the fastest way to get rid of student loan debt?
Jan 23, 2009 by Gregory_Brian | Posted in Personal Finance
I'm paying off a lot of credit card debt and currently have my student loans in a deferral status. But the big monthly payments will start up again at the end of this year.
Aside from trying to "drop off the radar screen" or looking for a much better-paying job that would quickly burn me out, I'm curious if anybody has any leads on this matter.
Thanks!
PS: Don't recommend declaring bankruptcy because student loan debt is exempt from that.
Work more than one job to pay it off faster.
There is no magic fix and you might as well get used to having to work more than one job to survive.
The days of little work and huge pay are long gone, unless you go to work for the government--and even that is only going to last a little while longer.
Good luck
Gem | Jan 23, 2009
OK so first of all always keep in mind that federal student loans are not bankruptable. So if you ever think of filing bankruptcy you still have to pay for those.
In order to attack this debt you first have to write out a budget and pay off your consumer debt on a "snowball method" which is you roll over the payments to the next step and add it to the minimum payment and that will add to the point it will be a big chunk of money to be applied to the student loan. But you have to really be diligent on getting this paid off. Otherwise it will take you forever.
wisegirl74 | Jan 23, 2009
Hi Gregory,
I am not going to tell you to use strategies to deal with this problem (live through it) or put small payments and set up agreements which you'll have to work out how much and when you can manage etc.
While that above is still good to know yet it's not the smartest way or the winners attitude to excel through it. I think student loans are a drag and all debts suck, but believe me they could be the right reasons to propel you into a better situation ... or even to financial freedom as it has done so for many people out there.
Here is my suggestion:
Instead of trying to just solve this why not just look into this extra-ordinary club which helped me -as I am confident that it will help you too- not only get the student loan paid off in full but also move on to a higher level of income in ways you never believed possible.
Just check it out, give it five minutes of your time and ask yourself honestly "How does this sound to me?" ... I'm sure it's nothing like you ever heard of before. It has made me money the first week I joined.
Click on the link below and just give it five minutes of your time
Just five minutes ... :)
http://www.yourmaverickmoneynow.com
Sultan A | Jan 23, 2009
How do you go about consolidating PRIVATE student loan debt with a home mortgage?
Jul 06, 2008 by Boston Tenor | Posted in Renting & Real Estate
We are looking for a home about $150,000 and we have about $70,000 in Private student loan debt at 7%.
There's a good article at eHow on steps to take to begin tackling your debt. Take a look at it:
http://www.ehow.com/how_2326032_avoid-escalating-debt.html
How to Stop Escalating Debt
It includes information on companies that can help you with debt consolidation and reduction.
You can also look here for tips on earning some extra cash online:
http://www.ehow.com/how_2254361_money-internet.html
How to make money on the internet, scam-free
Lastly, here's an interesting alternative to conventional lending...getting a "social networking" loan from Virgin Money (from the same folks who run Virgin Airlines):
http://www.ehow.com/how_2310995_student-loan-through-virgin-money.html
Social Loans from Virgin Money
Hope these help.
dave | Jul 06, 2008
Hi,
I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://d6b0.easyurl.net
Jennifer | Jul 06, 2008
What is the lowest credit score I can have to get a student debt consolidation loan?
Feb 05, 2007 by Loon-A-TiK | Posted in Credit
i have a lot of student loan debt and want to consolidate. however, i'm sure that because it is a private loan they're going to run my credit. do you know what is the lowest score i can have to consolidate?
I don't need debt management- my bad credit is the result of the ratio between my income and huge student loans. This totally messes with your credit. I'm working with a law firm to get this under control. I just need to consolidate my loans and while I can wait until my credit improves, I want to start saving money now.
Around 600
carlos | Feb 07, 2007
What happens when you marry someone with extensive student loan debt?
Nov 13, 2008 by belle | Posted in Financial Aid
Does that become your responsibility as well? I am assuming so, but I have heard conflicting stories on student loan debt, so if anyone could clear up my confusion...
Loans that you did not cosign on are not legally your responsibility to repay. However, him having this debt and paying (or not) would definitely impact your life and lifestyle when it comes to credit and things like buying a family car or a house. Most banks look at JOINT income and debt for big loans and it would be very difficult for you to qualify for a home loan if you had to do the loan in your name ONLY because his loan was defaulted or his "debt to income" ratio is too high.
The most important thing you need to know is that the government does not see his student loan debt as only his when his Student Loans are in default. And even though YOUR wages would never get garnished as his would .... they WOULD seize your JOINT income tax return to help repay the bad debt.... for years and years, untill all his student loans plus penalites are paid off.
Suddenly Human | Nov 14, 2008
you will divorce in a few months
tnybrdwy | Nov 13, 2008
As far as I understand, the debt becomes your responsibility as well.
But a good show to watch about credit and debt is Suze Orman. Check and see when she comes on because she is good and even takes callers questions.
Brown Pit named Blue | Nov 13, 2008
I'm not sure, but I think the only person that has to worry is the person with the debt and anyone who cosigns with him or her. You'd have to worry about it if YOU co-signed with that person for, say, a house, and they don't put up their end of the payments.
Grant K | Nov 13, 2008
i think you are right about that. you are married now so what's his should be yours.
Sandra | Nov 13, 2008
as long as you apply for everything seprately. the minute you apply for things together, and your names get linked up by the credit reporting agencies, then it will affect your credit. make sure everything you apply for is in your name alone, such as loans, phone accounts, cable, utilities, car, etc.
alden brown | Nov 13, 2008
it depends on the lending company. my student loans are set up to where if anything happens to me, no one is responsible for the balance owed. if it's a personal loan from a bank, then it maybe different depending on the stipulations. it's something you should talk about with your partner. regardless of what happens, you can expect that SOMEONE will be shelling out the cash to pay for it, so budgeting in your marriage will be a factor.
livingdedgrl18 | Nov 13, 2008
You will fight about money, unless he has a very high income.
IAAW | Nov 13, 2008
The debt is the responsibility of the person whose name is on the paperwork.
However, if you are in a joint property state, if the now-married-borrower dies then the joint estate is responsible for the debt.
And, in any case, marrying someone with debt means the whole household absorbs the burden of paying it since the money for the loan payments have to come from somewhere and so isn't available to spend on other things.
Brother Otter | Nov 13, 2008
I've spoken with my lender (Wells Fargo) about this and student loan debt is only the responsibility of the person who took it out (and their cosigner if they have one). It is not something that becomes shared once you are married. Student loan debt is different from other debt (car loans, mortgages, personal loans). It cannot be erased in a bankruptcy.
Heather | Nov 13, 2008
just because you marry someone with debt it does not make you responsible for it,only the borrower and the co borrower are responsible for the payment of debt.
it doesn't matter if your spouse runs off to another country never to be heard from again,you are not responsible for any loans you did not sign for.
A spouses debt does effect you in an indirect way though,you will have to be the primary signer on any future loans cuz their credit will be so bad,and most of their income will go to paying off their debt so your quality of living will be decreased
\,,/><\,,/ ROCK ON | Nov 13, 2008
What is the most that you have in student loan debt?
Jan 23, 2007 by Elysia | Posted in Financial Aid
Are you able to make your payments? I am just curious what everyone else is doing. So far, I have about $20,000.00 in student loan debt for 4 years of school (I have a bachelors in psychology now). I am going on to graduate school and student loans are going to have to cover all those costs too, including me getting a used car for a few grand. Is everyone else spending all this student loan money too?
My husband has around $66,000 in just federal loan debt. With alternative loans he is up around $100,000. (He went to pharmacy school which is really expensive.) His montly payments for both are only $1,000. The lenders make payment arrangements with you if you can't pay the set amounts but they are usually incredibly reasonable amounts that are set up.
By the way, you aren't required to make payments if you're in grad school at least part time. You can request an in school deferrment and defer your payments until you leave grad school.
stephanne1978 | Jan 23, 2007
Uhm, $45,000 or so, here...
Megan G | Jan 23, 2007
I have close to $50,000!!!! I graduated with a BS in Nursing. Student loans helped me out with the thousands of dollars that I had to use for books, etc. Now I am looking for a way to cut these loans. I get stressed out thinking of the YEARS that I have to pay for these loans, but my dad said something that really helped. He said, "Don't worry about these loans. Everyone's got some kind of a debt. You had to take out loans but it was to help you Give you a Future...to become a nurse. That's something no one can take away from you!" God bless!
NurseIL | Jan 23, 2007
when i was deep in debt i used this page to compare different options available to me. worked like a charm!
Sub t | Jan 23, 2007
I had about $12,000 in loan deb and my wife had about $5,000. If I would have made the interest payments during the forebearance period, I probably would have been able to make the scheduled payments when they came due. But, i was young and stupid at the time and then all the interest compounded and soo I ended up with far more debt than I could handle. One thing I learned is that the student loan company (mine was AES/PHEAA) are more than willing to help anyone out, but only for a certain amount of time. Eventually they are going to want their money back. To make a long story short, my wife and I had to declare bankruptcy in order to be able to pay this stuff back. Now that they are being paid, there's no problem with them. the best advice I cna give is to pay the interest when you get the notices and pay them off as soon as you can. If you are having trouble, call them and they will do everything they can to help you out.
Blair | Jan 23, 2007
What is the average amount of student loan debt that people have after their BA degree?
Mar 10, 2007 by bettyboop | Posted in Financial Aid
I know that not everyone takes out a loan for school but I just need an estimate number. I feel overwhelmed and stress out because I'm going to Nursing school and will have 28,000 in debt over my head after I graduate. I'm really really stressed! I do have a job lined up after I graduate but 28,000 seem so big right now.
28k is about right. It's about $7500 a year. Don't stress. You can defer them where you don't have to make payments on them if you are in financial hardship for up to 9 months each year. My husband does it all the time and he owes 25k and he pays about $230/ month. Just remember to get a cheaper car payment and see that extra $230 a month as an addition to your car payment. And....get a good nursing salary! Good luck! You'll be fine!!! My friend just got out of law school and she owes 100k and pays 900 a month. She makes less than a nurse would, so be thankful!
Steenskees | Mar 10, 2007
My student loans were about 21,000. No worries, its worth it. Just don't apply for personal loans, just school loans. You get a six month grace period after you graduate. Then if you have problems finding a job, you can defer or get a forbearance. Even if you are having financial troubles and need to put off payment they will work with you. Go for it! Its the best kind of debt you can have because it is assuring you of job satisfaction and stability. You will always be in demand as a nurse.
sweet_purpleiris | Mar 10, 2007
mine was 24k. it seems like a lot, but what other choice do i have?remember the quote, 'if you think education is expensive, try ignorance'.
dont worry, just plan carefully.
Miss D | Mar 10, 2007
Is there a way to refinance school loan debt?
Jun 11, 2008 by lafcol26 | Posted in Personal Finance
I have about 500k worth of school loan debt from my kids on top of a mortgage. Is there a way to refinance this loan to make it more affordable or is there some kind of debt forgiveness program?
How to be forgiven student loan debt?
May 28, 2007 by CantGetThereFromHere | Posted in Personal Finance
If you've already consolidated your student loans and no matter how many years you pay, the interest addition never makes the balance go down, is there any way to be forgiven this loan debt?
Please help. I'm past middle age, a social worker, and these student loans make me think that taking the gas pipe is the only solution to get out from under.
As far as I know the only way to be forgiven a student loan is to prove total disability, meaning you are unable to work at all. As the other poster mentioned, not even filing bankruptcy will wipe out a student loan. I have a friend trying to get his forgiven - he hasn't worked in 4 years but all they keep doing is giving him extenstions. If you can prove financial hardship you may be able to do the same - just keep getting extensions. This at least "freezes" the balance - during the extension no interest is charged. Not sure of your situation but maybe this would buy enough time to save some money to pay it off.
Good Luck!
bchbaby926 | May 28, 2007
Is it better for a new grad to pay off loan debt or invest with their money?
Feb 27, 2006 by johnlert22 | Posted in Investing
I just finished grad school and I'm in debt about $80,000. I make about $65,000 per year. I got a letter from my loan company saying that in 2005, I paid $1700 just in interest. Seems like so much. I was wondering what is better long term: reduced loan debt or investing and taking the tax deduction from student loan interest?
I think my interest rate on
Stafford loan is about 2.5% and private loan at Great Lakes is 6%. I never got around to refinancing but I think I will now
if the interest is low, you'll end up paying more if you pay your loan, and then put your purchases on a high interest credit card.
if the interest is high, pay it off as soon as you can.
I'm pretty sure, with school loans, the interest for the term is charged regardless of how long it takes you to pay the loan.
Judi | Feb 27, 2006
Student Loan Debt Consolidation Calculators Will Offer Mental Relief
When you're looking to get out of debt, you're more than likely under a lot of pressure. It's about this time that many people have the bill collectors breathing down their necks, calling them at dinner and even calling their bosses; it can be very stressful and it can cause even the most sane people to feel like running away from it all. However, all you need in this situation is a little student loan debt help. You can find that help with student loan debt consolidation companies. These companies will bundle your debt into one lump sum and then will offer solutions so that you can get out of debt faster and easier. These companies will usually have student loan debt consolidation calculators on their websites where they will tell you when they will be able to get you out of debt. This can be very freeing mentally as you'll finally be able to see the light at the end of the tunnel.
Follow The Instructions
For these student loan debt consolidation calculators to work, you have to follow the organization's instructions to a T. Sure, the student loan debt consolidation calculators can provide mental catharsis but they're useless if you don't follow the organization's instructions. For example, if the organization tells you to mail off a monthly payment equal to X and you miss a few payments, you're not going to get out of debt anytime soon.
Beware Of Scams
Also, when you see a student loan debt consolidation calculator on a website, make sure you look out for scams. Try to gauge the professionalism of the company, navigate the site to see if they are legit and do an internet search on that company to see if anyone else calls it a scam. You can follow any debt consolidation calculator on the internet as they are merely tools to show you how they will get you out of debt but never actually send anyone any money until you're absolutely sure they are a legitimate company who actually wants to help you.
Credit.com NewsThere are also various consolidation companies that give Credit Card debt consolidation loans to people that have bad credit - this means that even if you InstantBadDebtConsolidation.com Anticipates A Dire Need In The Market For Debt Credit Counseling Debt Consolidation Does Affect Your CreditThe five-step plan to clear debts - -all 141 news articles »
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s debt will be paid out after Japan's third biggest consumer lender delayed loan repayments, the International Swaps & Derivatives Association said. and more »
Credit.com NewsThere are also various consolidation companies that give Credit Card debt consolidation loans to people that have bad credit - this means that even if you InstantBadDebtConsolidation.com Anticipates A Dire Need In The Market For Debt Credit Counseling Debt Consolidation Does Affect Your CreditThe five-step plan to clear debts - -all 141 news articles »
