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Ask The Get Out of Debt Experts

My Husband Will Divorce Me When He Finds Out About My Debt. – Pay

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“Dear Steve, I am in severe debt and have no one to talk to about it. I am married, husband does not know. I have been keeping it a secret. It is about to kill me. I know that he will divorce me when he finds out. I am 64 years of age and never thought I would be like ... Read More »

I’m a Drowning College Student. Should I Use Money Management International? – Glenn

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Hello, I am a third-year college student who, up until now, has not been good at all with money. In addition to my student loans, I am about $5,000 in credit card debt. Some of it wasn’t my fault–my mom is a single parent and when things beyond my control happen (e.g. a $250 housing deposit for my university, or ... Read More »

I Was Contacted by Franklin Debt Relief. Should I Go With Them? – Robert

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“Dear Steve, I tried to run my own business and failed, got sick and am only now ready to return to work. With over $45K in credit card debt, another $40K in home equity debt, $15K remaining on my first mortgage and another $20K in loans from my life policies, I have dug myself one hell of a hole. Franklin ... Read More »

Do I have any hope for my future or am I betting killing myself over these student loans? – Allison

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I have been attending college since 2003. I started as a music major but when the ecnonmy crashed, I changed majors. Since then, I have lost my father, gotten a divorce, accumulated a lot of credit card debt and my student loans have gotten out of control. At this point, I am still trying to finish school and the only ... Read More »

Can I Negotiate a Settlement with Discover Now They Charged Off My Account? – Debbie

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Dear Steve, I opened an account with Discover back in 1993 and had good credit with them up until 2005 when I became ill, went out on disability, spent 2 years off and on in the hospitals, became inundated with medical bills and had to make tough choices on what bills I could continue paying. My credit with Discover went ... Read More »

What Can Clearpoint DMP Do for Me that I Can’t Do? – David

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I’m considering a Clearpoint DMP for credit card debt totaling $25,000. How can they do what I apparently cannot, have my creditors change interest calculations from compound to simple to fully amortize ‘the loan’ in 4 – 5 yrs? Why can I not do the same myself thus saving $40/mo. in client fees, approx. $2200 over the same term. Is ... Read More »

Collections attempt on a “supposedly” defaulted school loan from 30 years ago

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I’m now 59 years old. I took out a relatively small (about $4,500) gov’t insured student loan in the mid-70′s & paid faithfully up to filing bankruptcy in 1982 when I fell on hard times. I believe I still owed about $2,500 at the time of my bankruptcy. I recall bankruptcy attorney said it was unpredictable if the school loan ... Read More »

I’m on SSDI. Can you guess what 99.999% of my bills are from? – B

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Male: 54 yrs. old Health: Poor Bill Collectors: Yes, yes, and more yes. In 1994 I was diagnosed with Hepatitis C. Now before everybody jumps the gun and immediatly, even some doctors do, I did not experiment with intraveinous drugs coming up the ranks. I will admit that like a high percentage of people my age (54) I did smoke ... Read More »

Obama forgiveness program for student loans

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Tons of student loan debt. I have over 100,000 worth if loans. Direct loan and sallie Mae. I’m paying sallie Mae. But was able to defer the direct loan portion because I’m unemployed. 1. How do I apply to the Obama forgiveness program? 2. Am I eligible even if it’s being deferred? 3. Why does my loan balance screw up ... Read More »

Bank of America Won’t Take My House. What About Keys for Cash?

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I bought an one bedroom apt turned condo back in 2007 at the Courts of Oakland Park in Oakland Park, FL. The mortgage company then was Country Wide. My initial mortgage was $787 the first year, the next year it skyrocketed to $1,366. The place had gone into foreclosure in 2009. Bank of America bought out County Wide Loans and ... Read More »

What are some good companies to call about my huge amount of secret debt?

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I’ve got to stop lying to myself and my husband who I have not told I owe not including my mortgage and student loans, $15-16,000 in heinous, frivolous purchases? Today I awoke from my spending stupor because I can no longer afford to pay my mostly maxed out cards AND OUR MORTGAGE. I deserve to be in a scary place, ... Read More »

What to do when there is not enough money to make payments on debt.

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We are currently in over our heads with debt. We have approximately 6000 in medical bills and about 12500 in CC debt. We signed up for a DMP plan and have been making payments each month until this month. My wife lost her job and went back to school. We have 5 in our household and my bring home salary ... Read More »

Reselling of college loans creates fees and penalties.

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My daughter had college loans through both of the universities she attended as well as Sallie Mae. She was contacted by one of these loan consolidation companies to bring down her interest, etc. She filled out the paperwork and everything was consolidated. The arrangement was made that the loan company would take the payment out of her bank account every ... Read More »

True ownership of CESI. – Thomas

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I am a bankruptcy attorney who frequently has clients who have been paying credit counseling companies obscene amounts without receiving any relief. Further, it seems these companies pick-and-choose the creditors to which they will remit payment. What, if any, financial affiliations do these companies have with the creditors? For example, does CESI have a financial incentive to pay one creditor ... Read More »

Student Loan Forgiveness Program for Low Income Teachers

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I am a student enrolled in a masters program for special education. When I began school I decided to enter the student loan forgiveness program, which qualifies me to receive up to $17,500 of my loans being paid off, as long as I teach in a title 1 school for five years in a highly qualified area (which I qualify ... Read More »

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