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Ask The Get Out of Debt Experts

I’m Buried in Student Loan Debt and not Even Finished with School. – Levi

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Levi “Dear Steve, I am finishing school right now after taking a two year hiatus. The problem is that I already have 60k in student loan debt and I am going to be pushing 75k by the time I am done. With the current crisis in our economy noone is refinancing or taking on loan consolidations. What am I supposed ... Read More »

Mean and Abusive Husband is Going to Get Outraged Over Debt.

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Samantha “Dear Steve, I work full time. My mother watches my daughter. I am in the process of divorcing my husband who is mean and abusive. My credit sucks already but i don’t think I’m going to be able to keep up with the payments that we share. I have full custody. We have two loans together totaling about $5,000 ... Read More »

I Have $120,000 in Credit Card Debt. Can I Eliminate That With Debt Invalidation? – Isabel

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Isabel “Dear Steve, I have $120,000 in credit card debt. This is due to a 3 year court case and paying attorney bills by credit card. My credit rating is 670+ and I have no late payments despite my 72% debt to income ratio. I am considering debt consolidation, debt elimination or debt invalidation. I don’t want to hurt my ... Read More »

Can I Really Use a Balance Transfer Deal to Get Out of Debt? – John

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“Dear Steve, I have one credit card with a balance of $22K and an 8.5% interest rate. I want to pay it off in the next 2 or 3 years or so. Would it make sense to do a balance transfer to another card that is offering 0% APR on all purchases and transfers until January 2010 and then 9% ... Read More »

Can I Trade My House In For a Smaller One Instead of Losing it in Foreclosure? – Hollis

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Hollis “Dear Steve, I am severly under water financially having lost a second income. Now my house is upside-down by probably $80K, both my credit cards are topped out and I owe $40K on those and I have been advised to declare chapter 7 bankruptcy. My retirement savings have plummetted because of the volitility in the market, so there is ... Read More »

We Have $225,000 in Credit Card Debt. – Jane

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“Dear Steve, My husband is on disablity ($1300 per mo) and I am employed and take home about $3,000.00 every 2 weeks. We have $225,000 in credit card debt. Although we have not been late on a payment, we have been borrowing from Peter to pay Paul and can’t go on much longer as our monthly payments now total $4,800. ... Read More »

We Lost Our Home in Foreclosure And Now The Banks Wants $56,000 From Us That We Can’t Pay. – Trevor

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Trevor “Dear Steve, Several years ago my wife and I lost our home to foreclosure in NC. The bank sued us for a deficiency judgment which of course we were unable to pay, because we could not even keep up the house payments despite emptying our life’s savings. Today, four years later, this judgment still hangs out there, gathering enormous ... Read More »

What Do We Need to Do to Consolidate Our Debt? – Ayanna

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Ayanna “Dear Steve, My husband and I just got married, together we owe about $60,000. They are all in collections, due to job losses, unemployment, and only one of us was working. We both now have jobs, and would like to consolidate. What do we need to do to consolidate our debt? Ayanna” Don’t miss our free Get Out of ... Read More »

How Can I Save Money and Get Out of Debt at the Same Time? – Rob

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“Dear Steve, I read an article that said if you want to pay down your debt quickly, it is ridiculous to try to save money at the same time . You should put all available funds into debt reduction so that you can snowball your payments and get out of debt faster. The conventional wisdom is to build your emergency ... Read More »

I See My Situation as the Most Dire That I Have Seen or Even Read About. I Am at the End of My Rope. – Martina

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Martina “Dear Steve, I am a single mother of a 5 year old princess. I don’t get child support and at one point in my life about 6 years ago I was debt free with only my house payment, utilities and food. Then from there I pretty much have gone down hill. I had credit cards that I maxed out ... Read More »

Do You Recommend Credit Counseling or is There a Better Way? – Danny

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“Dear Steve, My wife and I have accumulated 40,600 in credit card debt. We are way over our heads, however, we have been able to make ALL of the payments on time. We are just barely making it though. We make over 118,000 a year together. Do you recommend credit counseling or is there a better way? Danny” Don’t miss ... Read More »

I Have Been with CareOne for 3 Months and I Am Having Difficulty Paying the $594 Monthly Payment. – Jim

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“Dear Steve, I have been with CareOne for 3 months and I am having difficulty paying the $594.00 monthly payment, behind one month on car. What can I do? Jim” 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 »

I Need Some Advice and Referrals For Bankruptcy and a Debt Financial Counselor. – Georgina

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Georgina “Dear Steve, I owe a total of about 130k in cc & student loan debt. Student loans account for 70k. not sure how to start repay or bankrupy. I’m just 2 years back in workforce now. I make 50k yr with room for increase near future. Help, overwhelmed I need some referrals for debt finanical counselors and or bnkruptcy ... Read More »

Is Buying a Used Car With a Credit Card a Good Thing? – Karla

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Karla “Dear Steve, Is buying a used car with a credit card a good thing? Karla” 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. – Click Here The Answer   Dear Karla, Excellent question. My answer may surprise ... Read More »

How Can We Go About Getting My Wife’s Name Off of This Debt? – Hank

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“Dear Steve, I was offered to apply for overdraft protection on a checking account via telephone. As it turned out, all overdraft payments were actually cash advances, therefore high interest rates. But this is the problem. My wife recently got her annual credit report and found that the bank had this on her credit as a joint account. My wife ... Read More »

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