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Ask The Get Out of Debt Experts

Ric Edelman Says I Should Carry a Big Mortgage Instead. – Carolyn

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“Dear Steve, I’m struggling with whether to get debt free as fast as I can or use the equity in my home and invest. I’m in the process of refinancing and cashing out $40K. I don’t have any liquid savings. I do have a little in 401K. I’m in my mid 40′s. Some say get out of debt but other’s ... Read More »

    How Can I Convince Creditors to Work With Us Rather Than Force Us Into Bankruptcy? – Penny

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    “Dear Steve, My husband was injured in car crash 8.5 years ago, injury caused him to find work out of town (2 hours away), settlement went toward replacement vehicle. while fuel prices were so high we made ends meet by using credit cards, we are working at getting things paid off, but late payment fees, over limit fees, etc. have ... Read More »

      My Boyfriend Has $20,000 in Credit Card Debt on 8 Cards. – Kathryn

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      Kathryn “Dear Steve, My boyfriend has $20,000 in credit card debt on a total of 8 credit cards. He was able to pay his minimum payments & a little extra, as he had been trying to do the debt snowball elimination method. Recently Chase bought out a couple of the companies he has credit cards with and now his minimum ... Read More »

        I Have Been Blacklisted in Dubai. – Mani

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        “Dear Steve, Hi actually this is a long story but i will try my best to scan in short.. i was working in dubai since 8 years…but as this recession cam in 2008 july for me i was kicked from my job which was related to reatil banking, after that i got job in MAF(OCTOBER 2008) well known company but ... Read More »

          I Was Researching Debt Relief Companies And Found You. I Talked to Dave Ramsey a Few Months Ago. – Deborah

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          “Dear Steve, Hi. I was researching Dept relief companies and their validity and discovered your sight . I really appreciate what you are doing. It is a big, bad scary financial world out there. Bottom Line…. My husband has been unemployed for 2 years. Got downsized right before the economy tanked and hasn’t been able to find full time work. ... Read More »

            We Have 10 Credit Cards With High Limits All Maxed Out. – Melissa

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            “Dear Steve, We have 10 or so credit cards some with high limits all maxed out. Able to barley make minimum payments. Getting harder to keep up. We have 4 kids and are trying our best to keep up on debt. We have closed most of the cc. We had an idea of taking all our money that doesn’t go ... Read More »

              Why Are We Struggling So Much Financially For the First Time? – Lisa

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              “Dear Steve, We lost over $25,000 in the sale of a home in 2004. It required us to sell stocks and empty savings to pay the difference at the sale of our home. We did this because it was the only offer we got on our home in 4 YEARS of it being on the market. Then my husband was ... Read More »

                BB Owes American Express $40,000, She Can’t Pay It, Bill Collectors Are Starting to Call

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                BB “Dear Steve, I’m in approximately $80,000 of credit card debt with an unfortunate and sudden drastic change in finances due to situations beyond my control. I owe American Express $40,000 along with other credit card debt. I have never been late on my payments except this month. American Express along with a few more creditors has already begun to ... Read More »

                  Department of Education Refuses to Forgive My Loan. – Paula

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                  “Dear Steve, I have a student loan from 1986 that was 2,200 dollars and I owe 46,000 dollars now because of interest and penalties and the school was a fraud and i never finished or go a degree and i have tried for years to get a foregiveness on it and the dept of ed tells me i do not ... Read More »

                    My Wages Were Garnished for a Student Loan Without Taking Me to Court. – Pamela

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                    “Dear Steve, I have a student loan….i went thru the rehab program last year…i couldn’t agree with nco on a set payment of 115.00 a month they said to low…they sent paperwork to my job for garnishment…my question is this the garnishment was sent from ecmc letterhead in re: nco financial for garnishment..i was told by a lawyer (for advise ... Read More »

                      Is This Consumer Debt Hardship Initiative a Scam? – Peter

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                      “Dear Steve, I recently got a letter that makes me wonder if this is something I should do. 1050 Connecticut Ave. Washington, DC 20036 United states Of America RE: HR 5140 Consumer Debt Hardship Initiative They said I was eligible for hardship programs created in conjuntion with the Consumer Debt Hardship Initiative of 2009 and listed one of my debt. ... Read More »

                        I Am Mentally and Physically Disabled and Can’t Pay My Student Loans or Bills. – Callie

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                        “Dear Steve, I am currently disabled due to both mental and physical ailments. These problems have been exacerbated by chronic unemployment (and therefore poor medical treatment) over the past six years. Now, I couldn’t even work if anyone did offer me a job. I receive state assistance because I am medically unable to work. I get $339 a month. I ... Read More »

                          Is There a Student Bankruptcy Option? – Zen

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                          “Dear Steve, I owe about 22K school loan, 7K in credit card, and a $230 phone bill. I only make roughly $1800/month . I don’t have car payments, I have rent which takes about half of what I make then the rest is for food, gas, and child support. The whole situation has gotten out of hand, and I’m so ... Read More »

                            Is There Something I Can Do to Prepare For Not Paying My Bills? – Nancy

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                            “Hi Steve, My husband and I owe about $50,000 in credit cards, loans, and vehicle debts. We moved back to USA about 4 years ago after living many years out of the country. We arrived with no money, and 3 kids in tow, so most of our debt was accumulated by just trying to provide the basic needs to our ... Read More »

                              I Was in an Accident on a Military Base and Owe the Military Hospital $15,000. – Priscilla

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                              Priscilla “Dear Steve, I’ve always workd ed but about 3 years ago I lost my job and been struggling financially. I’ve worked dead end jobs since then but can ‘t seem to get out of the rut I’m in. About 3 years ago I was involved in a accident (personal) I was taken to a hospital on a military base, ... Read More »

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