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Credit Counseling

I’m Moving Back With My Stepmother. Should I File Bankruptcy or Go With Credit Counseling? – Maya

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“Dear Steve, I currently bring home $2500.00 per month and I have been fully employed in outside sales for the last year. I have credit card debt of $45,000.00. I am trying to bring in more income and cut my rent costs by moving in with my stepmother if she agrees. Barring a new position or job, I’m afraid that ... Read More »

I Went to the Nonprofit Group CBDC But My Debt Still Isn’t Paid Off. – Lisa

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“Dear Steve, I do not know if you can help with this one. I have been with Consumer & Business Debt Counseling Services, Inc (thru Johnson Law Group) for approximately 3.6 years. This is the “approximate” amount of time (which started in February of 2008) that I was told it would take to pay off the debt that was consolated. ... Read More »

Can My Wife and I Independently Go Into a Debt Relief Program? – Paul

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“Dear Damon, My Wife just closed her business and the outstanding unsecured debt is about 100K. My personal debt is about 38K. I want to go on a debt relief program where a company negotiates a reduced amount and interest. She does not want to do this for her debt load. Can we independently arrange for debt relief? I want ... Read More »

CareOne Said They Could Not Help Me With My Amex Debt. – Chris

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“Dear Damon, Credit Card debt accumulated, fast and i couldnt keep up. Felt helpless with the other bills so I put my resources to living expenses and car payments. Amex and BOA fell far behind and I just felt overwhelmed with the numbers. Now Amex has filed suit against me in Michigan. I owe between all debts $10,046. Amex is ... Read More »

Would Talking With Money Management International Ruin My Credit? – Shan

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“Dear Damon, I have $30,000 in debt due to my college tuition. Most of it is in Citi bank. My interest rates are really high. Starting from 13% to 29%. I am paying around $1000 towards minimum payments. Due to that I am living pay check to pay check. I am worried that I will be paying minimum payments for ... Read More »

Am I Making the Right Choice to Go With Nationwide Financial Center and Their Credit Counseling Program? – Sally

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“Dear Steve, Approx. 35K credit card debt, much at very high rates. I make my payments, but barely. I use the remaining credit each month in order to afford my payments. Just signed up for Nationwide Financial Services credit counseling program. The deal: Their fee is $1295, plus fifty per month servicing. For this they get me much lower interest ... Read More »

Should I Go With Money Money Management International or Bankruptcy? – Nathalie

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“Dear Damon, I have a car payment, a high car insurance rate due to a recent accident and am paying the bare minimum on the $33000 that I have in credit card debt. After taxes, I take home $32000 a year. I called Citibank to ask if they would lower my interest rate and they suggested I contact Money Management ... Read More »

Will Going With Money Management International Lead to a Tax Liability? – Le Anna

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“Dear Damon, So I am checking out using MMI Money Management International… If you pay this off before the designated years can you at that point just start re-establishing credit? There is also something about a tax forgiveness… do you know about this? Thank you Le Anna” Don’t miss our free Get Out of Debt – “How To” Guide Series ... Read More »

I Want to Lower My Credit Card Payment. – Jen

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“Dear Damon, I have 20,000 in credit card debt and I pay 5.99% which adds up to @$305.00 each month. The amount is causing a hardship and I would like to get the payment down to about $200-221. Please suggest a good organization to deal with to negotiate a lower monthly payment. Please suggest a good debt group to deal ... Read More »

I’m in a Debt Management Program But Thinking of Fast Track Debt Relief Instead. – Kara

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“Dear Damon, Already in a debt management program but still having problems. I’m already in a debt relief program but the payment takes all of one of my two paychecks and part of another and it’s gettting to the point I can’t aford it anymore but I don’t want to file for bankruptcy but I need to lower my payment ... Read More »

I’m a Recent College Graduate Trying to Dig Myself Out of Credit Card Debt. – Megan

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“Dear Steve, I’m 22 and in 6,000 credit card debt! I am a recent college graduate, and in some credit card debt. In college, I racked up 3 different credit cards (one with a $4,000 limit, one with a $500 limit and one with a $300 limit – who gives an 18 year old kid ) and all of them ... Read More »

I’ve Talked to Two Different Credit Counseling Groups and Not Sure What to Do. – David

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“Dear Steve, Having CC debit of total $35,563.82 with 13 CC ranging from $280 to $7900. Having contacted with TakeActionAmerican and Clearpoint these two agency. From TAC’s DMP:$795.42 first payment then $745.42 monthly payment for 4yrs and 8 Months,monthly service fee is $30(included). From CP’s DMP:$895 monthly payment for 4yrs., monthly service fee:$35(included). My current monthly income is around $1000, ... Read More »

We Were With MMI and Chase Bank Charged Off Our Account Anyway. – Eveline

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“Dear Steve, Chase Bank credit card customer, jointly with husband. Two open accounts. Both of us, unfortunately, diagnosed with cancer within a year, financial hardship, inevitable. Called Chase when we got behind and they said they only would go through MMI (Money Management International) to set up a repayment plan. We contacted MMI and everything got set up, confirmation letter ... Read More »

58 Years Old, Good Job, Want Out of Debt in Five Years. What Should I Do? – Ricahrd

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“Dear Steve, I am 58 years old, married with one grown child (married and out of the household). I am employed and my wife is as well. I have a very stable position that compensates me approx. $135,000 year and I also receive a retirement annuity in the amount of $15,000/year. My wife works part time at an annual income ... Read More »

What is the Best Way to Become a Debt Counselor? – James

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“Dear Steve, I’m currently studying to become a certified financial planner. Steve, I first of all want to say thank you for your work helping people find out ways to overcome debt. You truly are making a difference. My question is, what do you recommend doing or studying in order to incorporate debt counseling in to my financial planning practice? ... Read More »

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