WEBVTT - BA Q&A: I'm Drowning In Debt! 0:00:06.200 --> 0:00:09.760 It's time for the b a q a A the 0:00:09.840 --> 0:00:12.560 b a q a, which is saying the b a 0:00:12.720 --> 0:00:15.239 q a with Manda, the b a q a with 0:00:15.600 --> 0:00:16.520 a A. 0:00:18.720 --> 0:00:20.840 I finished my mantra. Y now, so this show is 0:00:20.840 --> 0:00:22.400 going to be a lot zippier than the. 0:00:24.200 --> 0:00:24.680 First show. 0:00:24.720 --> 0:00:27.360 This week it is Brad a vision Question and answer. 0:00:27.440 --> 0:00:30.360 You have questions, We have answers, but we're not sure 0:00:30.360 --> 0:00:32.680 an attorney. We're not your to financial advisory. Why not 0:00:32.760 --> 0:00:36.280 your mama. But we are two smart brown girls on 0:00:36.440 --> 0:00:41.720 the interwebs with a podcast, I mean like or two. Yeah, 0:00:41.720 --> 0:00:43.080 we do, we do, but take it with the grain 0:00:43.120 --> 0:00:43.440 of salt. 0:00:44.320 --> 0:00:48.120 Rational best selling authors in the house. Come on now, 0:00:49.440 --> 0:00:51.360 career expert coaches in the house. 0:00:51.800 --> 0:00:52.279 Let's go. 0:00:53.479 --> 0:00:54.760 That's some respect on our names. 0:00:55.600 --> 0:00:59.200 Uh. So we're gonna answer some money questions this week. 0:00:59.400 --> 0:01:01.240 All right. First one's from Shana. 0:01:02.440 --> 0:01:05.240 Hello, my husband and I had My husband had a 0:01:05.280 --> 0:01:08.320 stint of medical issues in twenty twenty one. He's better, 0:01:08.480 --> 0:01:12.160 we are grateful for that, and has insurance to them, 0:01:12.200 --> 0:01:14.960 but at the time he had no insurance. We are 0:01:15.000 --> 0:01:17.319 now drowning in medical bills. His credit score has gone 0:01:17.319 --> 0:01:20.200 from good to fair. Do you have any recommendations on 0:01:20.240 --> 0:01:22.800 how to handle them. Well, we don't have enough cash 0:01:22.840 --> 0:01:26.720 flow to pay them all, right now. 0:01:25.640 --> 0:01:28.959 Yeah, that's so tough. And I mean the thing is 0:01:29.080 --> 0:01:33.160 like it sounds like his medical condition, his medical issues 0:01:33.200 --> 0:01:35.600 happened before he had insurance. And I think that that's 0:01:35.680 --> 0:01:40.640 just like yay America, just putting our citizens into debt 0:01:40.720 --> 0:01:43.080 by no fault of their own. But yeah, I think 0:01:43.120 --> 0:01:45.480 that medical debt, especially when it's from a hospital, I 0:01:45.520 --> 0:01:50.200 would say before anything, just be aware of your rights 0:01:50.240 --> 0:01:53.279 and be aware of your options. I have had family 0:01:53.280 --> 0:01:56.480 members successfully get on the phone with their hospital and 0:01:56.520 --> 0:01:59.320 be put through. If they're super low income, they have 0:01:59.400 --> 0:02:02.560 like charity care options for potentially you may have some 0:02:02.640 --> 0:02:05.600 of your debt forgiven or if not all, or be 0:02:05.760 --> 0:02:08.600 reduced or be put on a payment plan. But I 0:02:08.600 --> 0:02:11.040 think the worst thing you can do is just ignore 0:02:11.040 --> 0:02:13.280 it and let it accrue and then you feel like 0:02:13.320 --> 0:02:16.919 you're drowning. But actually, like contact the hospital and say, 0:02:17.200 --> 0:02:20.440 here's the situation. I do not have the cash flow, 0:02:20.440 --> 0:02:22.799 I cannot afford these payments. What can I do? 0:02:23.120 --> 0:02:23.480 Yeah? 0:02:23.639 --> 0:02:26.920 No, absolutely, Like there's as specifically if they have a 0:02:26.960 --> 0:02:30.919 financial assistance policy. I know for a fact I don't 0:02:30.919 --> 0:02:32.359 know what is in other states, but I know because 0:02:32.400 --> 0:02:33.960 a friend of mine used this back when we were 0:02:33.960 --> 0:02:36.919 in college in New Jersey. They call it charity care. 0:02:37.160 --> 0:02:39.720 To Mandy's point, so ask they might have that even 0:02:39.760 --> 0:02:42.520 if you're not eligible, people, can you can still negotiate 0:02:42.520 --> 0:02:44.720 your bills that I did this, so I did not 0:02:44.760 --> 0:02:46.440 know I was aglergic a black hair dyed. 0:02:46.520 --> 0:02:47.800 But now I know. 0:02:48.919 --> 0:02:50.800 And my face blew up like the movie The Mask, 0:02:50.960 --> 0:02:55.360 Google the Mask movie, not with Jim Carrey, like the 0:02:55.400 --> 0:02:58.960 one would share, and my face literally all this liquid 0:02:59.040 --> 0:03:01.640 formed underneath my skin, and it was it was scary. 0:03:01.680 --> 0:03:03.919 I'm not gonna lie. So I luckily lived down the 0:03:03.919 --> 0:03:06.320 street from the hospital. I actually was born on Saint 0:03:06.360 --> 0:03:08.160 Michael's in Newark. And I walked up the street. My 0:03:08.160 --> 0:03:10.240 mom was like, go to the emergency room, and I did, 0:03:11.240 --> 0:03:12.880 and because I had no money, so I was scared 0:03:12.880 --> 0:03:13.120 to go. 0:03:13.360 --> 0:03:13.519 I was. 0:03:13.840 --> 0:03:17.560 She said, so you'd rather just pass away in your sleep? Okay, gotcha? 0:03:17.680 --> 0:03:20.760 So I walked up the street. They basically it was 0:03:20.760 --> 0:03:24.160 an alluxury action. They gave me the equivalent equivalent of 0:03:24.520 --> 0:03:27.560 benadrill in liquid form and then sent me to the 0:03:28.320 --> 0:03:31.160 to the pharmacy with a subscription a prescription in Meanwhile, 0:03:31.160 --> 0:03:32.840 it was literally for benajul Off the shelf. I was 0:03:32.880 --> 0:03:35.240 pissed because that prescription cost me a couple hundred bucks. 0:03:35.720 --> 0:03:37.920 So all together it was like I want to say, 0:03:38.000 --> 0:03:40.880 I owed like maybe twelve hundred dollars in that one visit, 0:03:40.880 --> 0:03:43.280 which I was like freaked out about. I didn't have 0:03:43.320 --> 0:03:46.040 any money, so I called them and I was like, 0:03:47.240 --> 0:03:49.800 and they got it down to eight hundred dollars, which 0:03:49.840 --> 0:03:51.720 I didn't have, but I was able to at least 0:03:51.920 --> 0:03:53.880 start paying on it. So I say all that to say, 0:03:54.360 --> 0:03:56.360 you know, the truth is I probably did qualify for 0:03:56.440 --> 0:03:57.760 charity Care, but I didn't know at the time to 0:03:57.800 --> 0:04:00.080 apply for him. I just called the hospital directly that 0:04:00.200 --> 0:04:02.240 I don't have it, can you help me? And they 0:04:02.280 --> 0:04:04.120 were like, well, we can do this, and I said, okay. 0:04:04.840 --> 0:04:05.920 You know that's the. 0:04:06.000 --> 0:04:08.280 Key is like using that phrase charity care. 0:04:08.480 --> 0:04:09.640 Yes, you know. 0:04:09.680 --> 0:04:11.960 There was this like viral TikTok. I remember at the 0:04:11.960 --> 0:04:14.840 beginning of the I keep saying the recession, the pandemic, 0:04:15.320 --> 0:04:17.719 there was this TikToker I think his name was Jared something, 0:04:17.800 --> 0:04:20.360 and he was going viral because he himself had gone 0:04:20.400 --> 0:04:23.280 through a lot of medical issues and had so many 0:04:23.320 --> 0:04:25.920 bills and now it's his whole mission, Like he has 0:04:25.960 --> 0:04:29.960 a nonprofit or he started one helping people, helping advocate 0:04:30.000 --> 0:04:33.320 for patients to apply for charity care and actually help 0:04:33.360 --> 0:04:36.120 them apply and that there sometimes is an application, and 0:04:36.160 --> 0:04:39.000 like how to navigate that process. And so I quickly 0:04:39.000 --> 0:04:41.560 found his website that he started. It's called dollar four 0:04:42.279 --> 0:04:44.760 like the word dollar and then for and right on 0:04:44.800 --> 0:04:47.080 his site, you know, we crush medical bills. You can 0:04:47.440 --> 0:04:49.400 click get help and go through the little tool the 0:04:49.480 --> 0:04:51.800 last where the bill came from. It's not a bad 0:04:51.839 --> 0:04:54.360 place to start, you know, but at least knowing what 0:04:54.400 --> 0:04:57.359 your options may be. And you know, if you're truly financial, 0:04:57.400 --> 0:05:00.039 this is I mean, bank medical debt is like the 0:05:00.080 --> 0:05:04.159 cause of the majority of bankruptcies personal bankruptcies in the US, right. 0:05:05.400 --> 0:05:07.240 But it's a shame because you may not have to 0:05:07.400 --> 0:05:09.839 let it get to that point if you have these 0:05:09.839 --> 0:05:10.920 other options out there. 0:05:11.160 --> 0:05:13.480 Yeah, for one thing, don't do, Shane, Please don't put 0:05:13.480 --> 0:05:15.280 it on your credit card because then it goes from 0:05:15.320 --> 0:05:16.640 medical debt to credit card debt. 0:05:16.800 --> 0:05:17.719 So just keep that in mind. 0:05:17.720 --> 0:05:20.680 Anybody who's listening, but Shane especially and remember that it's 0:05:20.720 --> 0:05:23.320 not as urgent as of your other bills. And to 0:05:23.440 --> 0:05:28.039 Mandy's point, there's nonprofit help, so there's also a dollar four. 0:05:28.120 --> 0:05:31.960 And also consider it's called the National Foundation for Credit Counseling. 0:05:32.600 --> 0:05:36.640 It's a nonprofit and you can share with them what 0:05:36.680 --> 0:05:38.359 you're going through and they can help you navigate that 0:05:38.440 --> 0:05:41.000 process as well. And these are nonprofits, so you're not 0:05:41.040 --> 0:05:42.640 by yourself. This is a really good question. I don't 0:05:42.640 --> 0:05:45.600 know we've ever answered a medical that question. So I'm 0:05:45.600 --> 0:05:47.360 glad you asked it, Shane, And so we wish you well. 0:05:47.360 --> 0:05:49.960 We're glad that your husband is better now. You know, 0:05:50.000 --> 0:05:52.040 we want to make sure your finances are better now too. 0:05:52.600 --> 0:05:54.320 Do you want to mention really quick too? You mentioned 0:05:54.320 --> 0:05:57.040 credit or just like putting it on credit, But medical 0:05:57.080 --> 0:05:59.800 debt it's not that in terms of like, because you know, 0:05:59.880 --> 0:06:02.039 she mentions her husband's credit how it's gone from good 0:06:02.080 --> 0:06:05.359 to fair. But haven't there been some recent changes to 0:06:05.360 --> 0:06:09.279 how credit scores are calculated that medical debt or unpaid 0:06:09.320 --> 0:06:11.600 medical debt or paid off medical debt is not as 0:06:11.880 --> 0:06:13.880 big of a factor in your credit score anymore. 0:06:14.160 --> 0:06:17.880 Absolutely, according to c NBC as of July first of 0:06:17.920 --> 0:06:20.560 this year, your medical debt may no longer hurt your 0:06:20.560 --> 0:06:24.120 credit score anymore. So it's not unpaid medical debt, because 0:06:24.120 --> 0:06:26.719 certainly if you're behind, you will have to pay, But 0:06:26.839 --> 0:06:30.159 if you've paid off medical debt, that was sometimes weighing 0:06:30.200 --> 0:06:32.120 down your score. So if you've paid off medical debt, 0:06:32.760 --> 0:06:38.320 the three largest credit briuros, TransUnion, Equifax, and Experience are 0:06:38.360 --> 0:06:43.280 removing cleared medical debt from consumer credit reports beginning July first, 0:06:43.440 --> 0:06:45.520 twenty twenty two. So we've passed that time, which is 0:06:45.920 --> 0:06:47.159 you know, which is good news. 0:06:47.240 --> 0:06:48.920 I guess. I mean, you know you. 0:06:48.839 --> 0:06:52.800 Paid it off, which is great. But yeah, so if 0:06:52.839 --> 0:06:56.240 you you'll have more time before. Unpaid medical debt also 0:06:56.360 --> 0:07:01.479 is reported on your credit report, so typically it's increased 0:07:01.520 --> 0:07:04.200 from let me see, what does it say, unpaid medical 0:07:04.200 --> 0:07:07.760 debt that is currently in collections for one year were reported, 0:07:07.920 --> 0:07:12.480 so before it used to be six months, like twenty seventeen, 0:07:12.520 --> 0:07:15.600 the law was six months. You know it's going to 0:07:15.640 --> 0:07:17.240 be reported now they're going to give you a whole 0:07:17.360 --> 0:07:20.440 year to be behind. So that's actually really good too, 0:07:20.480 --> 0:07:23.040 because they understand that medical debt is not as a 0:07:23.080 --> 0:07:26.800 result of you being financially irresponsible. Yeah, and then starting 0:07:26.840 --> 0:07:32.680 in twenty twenty three, according to CNBC Equifax Experience, TransUnion 0:07:32.680 --> 0:07:35.640 will also no longer include medical debt and collections under 0:07:35.680 --> 0:07:37.640 five hundred dollars on your credit report. 0:07:37.680 --> 0:07:38.360 So that's good too. 0:07:39.720 --> 0:07:41.840 I'm going to say that this is definitely those things 0:07:41.880 --> 0:07:44.040 where you should be on top of it. You know, 0:07:44.120 --> 0:07:46.240 if you know that you have paid off some debt 0:07:46.240 --> 0:07:48.320 and it's still like, check your credit reports once a year, 0:07:48.400 --> 0:07:50.280 speaking of which isrobody check mine. I haven't done in 0:07:50.280 --> 0:07:52.600 a minute, But check your credit reports and if you 0:07:52.640 --> 0:07:54.720 still have medical debt there, then I would say, get 0:07:54.720 --> 0:07:56.960 some records and keep the records of it, like ask 0:07:57.000 --> 0:07:59.960 your hospital or whoever the debt collector whatever the age 0:08:00.040 --> 0:08:02.320 and see is get that letter that says that it's 0:08:02.360 --> 0:08:05.840 been settled or paid off or whatnot. And then you know, 0:08:05.880 --> 0:08:08.280 show that to the credit reporting agencies and see if 0:08:08.280 --> 0:08:10.920 they can expedite or you know, if they haven't actually 0:08:11.000 --> 0:08:13.840 taken it off your records yet, be like, hey, here's 0:08:13.840 --> 0:08:16.200 a CNBC article and you're supposed to do this, here's 0:08:16.200 --> 0:08:18.880 my proof what's happening. Because I think that's some of that. 0:08:18.880 --> 0:08:21.880 That's sometimes what happens is like the there's like a 0:08:21.960 --> 0:08:25.200 lag between when something should be happening and when it's 0:08:25.280 --> 0:08:28.600 actually happening. Definitely be on top of that, and Shana 0:08:28.960 --> 0:08:32.160 please keep us, you know, updated on what happens, what 0:08:32.200 --> 0:08:33.920 you guys decide to do. Feel free to send us 0:08:33.920 --> 0:08:36.800 another email and you guys, if you want to send 0:08:36.840 --> 0:08:39.280 your questions and reminder, you can go to Brandambition podcast 0:08:39.360 --> 0:08:42.040 dot com and senmit your question through the website. You 0:08:42.040 --> 0:08:44.880 can also dm us directly. We are at Brand Ambition 0:08:44.960 --> 0:08:49.240 Podcast on Instagram. Take a quick break, yeah, and come 0:08:49.320 --> 0:08:51.120 right back with a question from a listener who wants 0:08:51.120 --> 0:08:53.760 to know about private student loan debt. Let's do it 0:08:55.640 --> 0:08:57.480 all right, va fan, We are back with another one 0:08:57.480 --> 0:09:01.520 of your questions. This question comes from listener Kim, who 0:09:01.600 --> 0:09:04.920 hit us up on ig. Kim says, Hey, Mandy and Tiffany, 0:09:04.960 --> 0:09:07.480 I'm a new listener to your podcast. Thank you for 0:09:07.559 --> 0:09:09.400 all you do. Your podcast is everything. 0:09:09.440 --> 0:09:09.960 Thank you, Kim. 0:09:10.559 --> 0:09:13.760 My dilemma is with Navian shake my head. I've been 0:09:13.800 --> 0:09:17.200 paying five hundred and twenty five dollars a month on 0:09:17.240 --> 0:09:19.600 a twenty one thousand dollars loan from two thousand and 0:09:19.640 --> 0:09:22.080 seven that is now has a current balance of thirty 0:09:22.240 --> 0:09:27.120 seven thousand dollars. My balance isn't going anywhere. Can you 0:09:27.160 --> 0:09:30.600 guys recommend a great company that I can refinance my 0:09:30.720 --> 0:09:34.679 private loans with? When she said private, it made sense. 0:09:34.559 --> 0:09:37.520 Yes, because I was like, well, she said refinance, I 0:09:37.520 --> 0:09:40.440 was gonna say, we don't recommend around these parts. 0:09:40.520 --> 0:09:41.520 We don't talk. 0:09:41.320 --> 0:09:45.240 About ruh, no, no, no, we don't recommend over around 0:09:45.280 --> 0:09:50.440 here refinancing your federal student loans, especially you know, like 0:09:50.480 --> 0:09:52.480 that moratorium save plenty of lives. 0:09:52.760 --> 0:09:54.559 You know, when you have federal loans. 0:09:54.320 --> 0:09:57.040 That means when things happen with the economy at large 0:09:57.080 --> 0:09:58.559 or whatever, you know, you. 0:09:58.600 --> 0:10:00.480 Potentially can have assistance. It's an aid. 0:10:00.800 --> 0:10:03.679 You know, we'll know by August thirty first whether or 0:10:03.720 --> 0:10:06.480 not there's going to be an erasure of some student 0:10:06.520 --> 0:10:09.640 loan private I mean federal student loan debt by the 0:10:09.679 --> 0:10:12.920 federal government. So there are protections that are in place 0:10:12.920 --> 0:10:15.480 for federal student loans, and you cannot refinance with the 0:10:15.480 --> 0:10:18.360 federal government. So if you were finance a federal student loan, 0:10:18.400 --> 0:10:21.560 you were financed out of federal protection into a private loan. 0:10:21.720 --> 0:10:24.440 But that's not what's happening here. Like this is great, 0:10:24.440 --> 0:10:25.959 So we just want to make sure that like you're 0:10:26.000 --> 0:10:28.400 under Like what advice for giving to Kim is because 0:10:28.520 --> 0:10:30.920 she's going from private to private, not private to federal. 0:10:31.760 --> 0:10:35.320 Yeah, and let's be clear too, people who have private loans, 0:10:35.480 --> 0:10:38.120 and whether that's credit card debt or a personal loan 0:10:38.640 --> 0:10:40.960 that's not being or an unsecure loan that's not a 0:10:40.960 --> 0:10:43.480 fixed it doesn't have a fixed rate, or a private 0:10:43.520 --> 0:10:46.800 student loan, you know you're susceptible to those variable interest rates. 0:10:46.840 --> 0:10:49.400 And with the Fed increasing rates, debt is getting so 0:10:49.480 --> 0:10:53.079 much more expensive. So I think this question is really timely, Kim, 0:10:53.200 --> 0:10:55.679 because if people out there you have private student loan 0:10:55.720 --> 0:10:59.080 debt and you haven't refinanced it yet because rates are increasing, 0:10:59.200 --> 0:11:00.800 I mean, check your rate and see how much more 0:11:00.800 --> 0:11:04.319 it is, and then definitely shopping around to see if 0:11:04.360 --> 0:11:07.600 you are eligible to refinance. So just in a nutshell, 0:11:07.600 --> 0:11:11.880 when you refinance, you are basically getting another lender to 0:11:12.200 --> 0:11:13.920 cut you a check for the debt that you owe, 0:11:13.960 --> 0:11:16.120 and now you owe a new debt to that lender. 0:11:16.640 --> 0:11:18.360 And the idea is that you're going to have a 0:11:18.400 --> 0:11:20.920 lower interest rate, so it's going to be less expensive 0:11:21.000 --> 0:11:23.880 debt than what you had before. Sometimes you can negotiate 0:11:23.920 --> 0:11:26.360 other terms like maybe if the term of your loan 0:11:26.400 --> 0:11:28.240 you to have it paid back and I don't know, 0:11:28.320 --> 0:11:30.800 twelve years, maybe you can refinance it and they'll give 0:11:30.840 --> 0:11:35.000 you twenty years, which will make your payments smaller. That 0:11:35.120 --> 0:11:38.240 being said, when it comes to student loan refinancing, I 0:11:38.240 --> 0:11:41.280 think the important thing is to understand you can shop 0:11:41.320 --> 0:11:44.439 around and compare rates, So, just like any other kind 0:11:44.480 --> 0:11:46.439 of loan, that's my first thing. I would recommend you 0:11:46.480 --> 0:11:49.400 can go to a website called student loan Hero. There's 0:11:49.440 --> 0:11:53.000 also credible dot com. These are two student loan marketplaces. 0:11:53.040 --> 0:11:56.160 Full disclosure, I used to work for I managed the 0:11:56.200 --> 0:11:58.120 content team behind student loan Hero. But they are one 0:11:58.120 --> 0:12:01.160 of the best. Okay, But they have a marketplace where 0:12:01.160 --> 0:12:04.040 you can search for especially lenders that'll let you get 0:12:04.080 --> 0:12:07.200 pre approved or pre qualify, which means they'll do like 0:12:07.240 --> 0:12:09.920 a soft pull which won't go on your credit report, 0:12:10.040 --> 0:12:11.960 and then they'll give you like an example of a 0:12:12.040 --> 0:12:15.640 rate that you may get that could help you Just 0:12:15.679 --> 0:12:18.680 shop and compare different lenders and just make sure that 0:12:18.720 --> 0:12:20.440 you know exactly what you're getting into. 0:12:21.360 --> 0:12:25.240 Yeah, yeah, I mean so, yes, refinancing is probably going 0:12:25.280 --> 0:12:27.959 to be I don't know what Navviance interest rate is. Obviously, 0:12:27.960 --> 0:12:30.920 the number one rule with refinancing is make sure you 0:12:30.920 --> 0:12:32.720 get a lower interest rate, but make sure it also 0:12:32.760 --> 0:12:35.400 makes sense. I would also compare because Naviant should have 0:12:35.440 --> 0:12:37.760 some sort of statement that says, this is how much 0:12:37.800 --> 0:12:39.720 you end up paying in the end if you if 0:12:39.800 --> 0:12:44.080 you continue to pay whatever your minimum payment is. So 0:12:44.200 --> 0:12:47.640 I would also compare, like how much more because Samanda's point, 0:12:47.640 --> 0:12:49.360 you might go from twelve years to thirty years, but 0:12:49.400 --> 0:12:51.040 does that mean you're going to attack on another ten 0:12:51.080 --> 0:12:53.920 thousand dollars on your loan? So first and foremost, can 0:12:53.960 --> 0:12:55.600 you get a lower interest rate, but then what it's 0:12:55.640 --> 0:12:58.000 going to cost you overall, and then you just decide 0:12:58.000 --> 0:13:01.680 whether or not it's worth the cost and then mosey 0:13:01.760 --> 0:13:03.800 on over Also too, make sure you're not trying to 0:13:03.800 --> 0:13:05.400 buy a house or a car anytime soon, because this 0:13:05.440 --> 0:13:07.079 is going to be your hard pull when you finally 0:13:07.120 --> 0:13:09.719 decide to move forward with whatever. So make sure you 0:13:09.760 --> 0:13:12.440 don't have any other need for your credit in the 0:13:12.480 --> 0:13:15.040 next few months, like major need like a house. You 0:13:15.040 --> 0:13:17.960 know you don't want to you know, you know you 0:13:17.960 --> 0:13:20.040 you're I don't want your realtor cussing us out, like, what. 0:13:20.120 --> 0:13:22.520 The hell, that's the one. 0:13:22.520 --> 0:13:25.440 I don't think they excuse me. My name is Becky, 0:13:25.640 --> 0:13:29.319 I'm Kim's realtor, and on August fifteenth, you gave some 0:13:29.520 --> 0:13:30.160 shitty advice. 0:13:30.960 --> 0:13:32.959 So just be mindful of that because sometimes people don't think. 0:13:32.960 --> 0:13:35.319 Because oftentimes people are trying to get their student loans 0:13:35.360 --> 0:13:37.880 together because they want to purchase like a home or something, 0:13:37.920 --> 0:13:39.720 which is great. So if you're six months to a 0:13:39.760 --> 0:13:42.400 year out or whatever, fine, But if it's in a 0:13:42.400 --> 0:13:44.640 few months or a few days, not fine. 0:13:44.720 --> 0:13:45.880 So just keep that in mind too. 0:13:46.760 --> 0:13:48.439 Yeah, I'm trying to think what else she should look 0:13:48.440 --> 0:13:49.959 out for. You know, be clear on whether or not 0:13:50.000 --> 0:13:53.080 you want to fixed rate or a variable rate. Variable 0:13:53.120 --> 0:13:55.280 means that can go up and down. Right now, fix 0:13:55.360 --> 0:13:57.800 is probably the way to go because of the fact 0:13:57.800 --> 0:14:00.600 that the FED is continuing to raise rates or it 0:14:00.640 --> 0:14:04.360 looks like they may. What else, you know, starting I 0:14:04.400 --> 0:14:07.319 know that right now you're feeling like thirty seven thousand dollars. 0:14:07.360 --> 0:14:10.560 You know, this balance is not going anywhere. If you can, 0:14:10.800 --> 0:14:12.600 if you can get to a place where you can start, 0:14:12.800 --> 0:14:16.280 you know, contributing more to the loan, looking for additional 0:14:16.320 --> 0:14:19.080 sources of income. I mean that's the way to chip 0:14:19.120 --> 0:14:21.960 away at a much faster I know it feels overwhelming, 0:14:22.520 --> 0:14:25.520 but increasing income or finding additional streams of income, it's 0:14:25.600 --> 0:14:29.280 going to be like the real That and being able 0:14:29.360 --> 0:14:31.720 to reduce your your rate obviously, those are the two 0:14:31.760 --> 0:14:35.320 best ways to tackle that student loan debt, the private 0:14:35.320 --> 0:14:39.400 student loan debt as soon as possible. But you're not alone, 0:14:40.120 --> 0:14:42.160 miss Kim, and thank you so much for sending your 0:14:42.240 --> 0:14:42.720 question in. 0:14:43.040 --> 0:14:45.160 So that's our show for today. 0:14:45.840 --> 0:14:48.800 Hit us up on all of our socials, brand Vision 0:14:48.800 --> 0:14:55.320 podcasts on its, the BA podcast on Twitter, and brandibisionpodcast 0:14:55.400 --> 0:14:56.040 dot com. 0:14:56.160 --> 0:14:57.400 You can ask us. 0:14:57.280 --> 0:15:02.360 Anything, anything, anything, and I can't probably gonna get to 0:15:02.400 --> 0:15:03.600 all of them, but we will get to as many 0:15:03.600 --> 0:15:06.920 as possible. We like to switch between like money questions, 0:15:06.960 --> 0:15:09.320 career questions, your financial questions. 0:15:09.040 --> 0:15:09.920 Or at large. 0:15:11.560 --> 0:15:15.120 Yeah, business questions for sure are like answering those. So yeah, 0:15:15.160 --> 0:15:18.600 if you have business, career, money question, life question chat, 0:15:18.640 --> 0:15:19.760 we can even do some of them. 0:15:20.320 --> 0:15:22.480 Just be anonymous. We won't put all your business out there, 0:15:22.600 --> 0:15:23.320 but do a fun name. 0:15:23.360 --> 0:15:26.560 I you're gonna be anonymous, say sassy and Seattle something. 0:15:26.560 --> 0:15:27.800 You know. We like to do those. 0:15:29.240 --> 0:15:31.480 All right, TIF We'll go get some rest rest the 0:15:31.560 --> 0:15:34.600 Vocal Cords thank you for making it through the show 0:15:35.080 --> 0:15:37.360 on the men from COVID and all but still looking 0:15:37.440 --> 0:15:41.280 fabulous than you, and we will see y'all next week. 0:15:41.320 --> 0:15:44.520 By ba Fam, Hey, ba Fam, we could not do 0:15:44.600 --> 0:15:47.160 this show without your support or the support of our 0:15:47.160 --> 0:15:50.640 team behind the scenes. The Brown Emission Podcast is produced 0:15:50.640 --> 0:15:54.520 by Cumulus Podcast Network. It's edited by the wonderful Emani 0:15:54.560 --> 0:15:58.520 Crosby and produced by Tanya Bustos. Dennis Timplinsky is our 0:15:58.560 --> 0:16:01.840 in house tech guru, and I am Bandy Woodard Santos, 0:16:01.880 --> 0:16:08.400 your co host, and I will see y'all next week.