Jim Skamarakas

SallieMae is selling your name and information for profit in an offer that is a bad deal for everyone. In todays mail comes a deal through their marketing partner Bank of America for variable rate loans. Not adjustable rate as they spell it out tied to any silly thing like an index. Instead this is tied to the whim of Bank of America. The terms and handy chart are listed at a low starting rate in the single digits. Miss or be late with a payment with them or ANY creditor and expect the rate to skyrocket to 20%. Try and get out of that deal.

Now if your credit good enough to have $30,000 in credit card debt, you should try and get a loan and throw away all those cards and get some financial counseling. The counseling should come first. That much unsecured debt is shocking to me, but normally to way to many people.

But do not be tempted by these horrible offer loans.

But do call SallieMae and have them remove you from all marketing activities from them AND their parties and associates. And that is a piece of good advice you can wrap under the tree and enjoy this holiday season. It will do you a lot more benefit them getting suckered into this horrible deal of debt reduction from SallieMae and Bank of America.

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