Qualstar Credit Union

This member called in back in November to get some help with his personal loan due to having a hard time with his finances, and wanted to ask about options for reducing the monthly payments. We talked about solutions other than a loan modification and I thought, if the member was struggling with this one payment, was he struggling with others…?

I followed up with this member after she submitted an online application to convert her Gateway Line of Credit to a Visa Gold Credit Card for additional benefits. While going over her application, I noticed she had two auto loans and additional credit cards that appeared to have high interest rates. After we finished the Visa Gold request, I asked if she knew what her interest rates were on those other loans, and after a few quiet moments she said, “Not good at all.” I told her I would do some calculations to see if we could help her refinance the auto loans, and possibly consolidate the credit cards at a lower interest rate. She liked the idea, but was in hurry to go back to work and promised to call back and let me know how to proceed.