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Ask The Get Out of Debt Experts

Will I Be Arrested When I Reenter the U.S. Because of My Bad Debt?

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“Dear Steve, I am Turkish citizen. I stayed five years in the States for master and doctoral education. I had a scholarship from my government and was together with my three kids and wife. Only one semester, I worked in campus as a research assistant and got a social security ID. After graduation I came back to my country and ... Read More »

Should I File Bankruptcy at the Risk of My Family?

Road to Recovery Sign

“Dear Steve, 2005 I earned a few hundred thousand I could invest. Being young I took a risk, I provided a bridge loan of $135,000, Prepared by and attorney. In the same year I loaned the money the loan defaulted. So I wrote off the loan through the advise of an attorney and accountant. I was audited by the IRS ... Read More »

Should I Buy a Shelf Corporation to Start a Business? I Have Bad Credit.

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“Dear Steve, I’m starting a new business with poor credit and I was wondering if I should purchase one of these shelf corporations. Are the purchase of shelf corporations legal?” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. ... Read More »

My Social Security is Being Garnished Over an Old SBA Loan. – Carrie

retirement

“Dear Steve, Home and business was damaged during Katrina. got a SBA disaster loan. paid monthly notes. they were 3rd lienholder. 1st lienholder foreclosed on us. he did not notify SBA about the foreclosure. we did and sent names, addresses, phone nos,and documentation of all concerned. he bought the property back at the land sale and resold it within two ... Read More »

Mortgage Mailer is a Sales Job to Sell You a Lie

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“Dear Steve, Received this mailer offering to reduce my principal by $75k and get me a 2% interest rate. Has NO name, address, fax, or website. Phone # 877-264-8115. When I Googled that #, your site came up as evidently someone in the Comments section mentioned a solicitation with that #. It’s disturbing that an attorney’s office can violate so ... Read More »

We Incurred the Debt So We Think We Must Pay It Off. – Kelli

debt

“Dear Steve, Decent credit with too much debt..need to know the best option for getting out of debt. My husband and I have accumulated about $40,000 in credit card debt, and while we are able to keep up the minimum payments for now I don’t see us being able to in the future. We want to get out of debt ... Read More »

My Ex-Husband Was Supposed to Pay Some Debts But They Are Coming After Me. – Kate

steamroller

“Dear Steve, I went through a divorce in which I cold not get my name off of the mortgage. My ex husband said he wanted to continue living in our house, so I moved out. Several years later, he let the house go ino foreclosure. I was so upset and disgusted over this that I stopped paying back other bills ... Read More »

I Want to Take Cash Out of My House to Pay My Debt. – Bruce

Couple Buying House

“Dear Steve, I live in Northern California and have approximately 90K in credit card debt and need help badly as we’re having trouble making ends meet! If possible I don’t want to file BK I make approximately 125k a year and my wife has been unable to work the past 4 years due to medical issues. We currently own a ... Read More »

Our Credit is in the Crapper. Should We Go With MMI? – Nannie

shopping addiction

“Dear Steve, I am contemplating whenter or not I should sign up with MMI–Our credit is in the crapper, due to over 4 years of underearning. I finally got a job, my husband’s job is also steady and still we cannot manage. I had to take a long look at things and realize that we need extra help in terms ... Read More »

What Will Happen When if I Stop Making the Second Mortgage Payments? – James

umbrella

“Dear Steve, We currently have a first and second mortgage. The first Mortgage is with Citi Bank and we owe about 160,000. The second is with America Servicing Company which is a subsidiary of Wells Fargo. We owe 140,000. The house is probably worth about 300,000 give or take. We are having a problem making the second mortgage payments. I ... Read More »

Is There a Good Loan to Use to Get Out of Debt? – Amanda

whispering

“Dear Steve, Completly in debt due to being young and stupid. was married; got divorced, not reciveing child support, etc I am trying to find a way to imporove my credit score and pay off old debts. i was told a GOOD (get out of debt loan) Loan may be an option for me; I was told that the loan ... Read More »

Will Capital One Take My Truck and Tools? – Chuck

Toolbelt-On-Handyman

“Dear Steve, I am 74 I get SS. I got behind when the economy fell in 07-09, lost my job I have a private work shop that I do side work out of for extra income, not reported I have an old truck 38 years old and a 92 car. My SS goes into bank account. I got served a ... Read More »

Nation Wide Consumer Debt Relief Took My Money and Did Not Refinance My Student Loans

money-torn

“Dear Steve, it has been over 5 months I have paid NWCDR $1500 to refinance my student loan. Nothing happened so far, and all emails I am sending them is coming back to me. Unfortunately this is SCAM….. Mr Blackmon called me in January since then no phone calls and his email address is not working. I have paid him ... Read More »

Do Not Avoid Bankruptcy – 14 Reasons

Avoid Bankruptcy Monster

Avoid bankruptcy is advice you will often hear in the debt relief world. Companies, from non-profit credit counselors to for profit companies use that advice, sometimes well intentioned, and sometimes just to manipulate you. Companies that use the advice that consumers should avoid bankruptcy are simply amplifying the ingrained fear and prejudice that many have about bankruptcy. But fear and ... Read More »

I Don’t Want to Get Foreclosed On When My Chapter 13 Bankruptcy is Over. – Ali

hiding

“Dear Steve, I have home in California, Bay Area, I filed for Chapter 7 BK, 4 1/2 years back due to business losses & Laid off work, BK 7 was Discharged and immediately i filed for Chapter 13 BK, im still active in my current plan and according to the terms mentioned in my BK 13 Plan, i was suppose ... Read More »

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