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Ask The Get Out of Debt Experts

I Receive a 1099 for a Forgiven Student Loan. How Do I Pay the Taxes? – John

IRS

“Dear Jim, Parent plus loan forgiven in Permeant disability. Received 1099C for $53,000 Loan amount and $33,000 in Interest. How does one pay the taxes when the only income is SS Disability. John” 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 ... Read More »

Can Sallie Mae Garnish Wages and Tax Our Tax Refund Without Going to Court? – Kristen

closeup of a gavel on cash, from above

“Dear Steve, My husband and I live in West Virginia, and my husband went back to school to get his Master’s Degree in Media Studies (because he really wants a career in Film). He got his student loan through Sallie Mae. Anyway, he works for the state and isn’t paid what he’s worth. I’m currently unemployed, because we only have ... Read More »

My Credit Score Sucks. How Can I Make It Better? – Thomas

"Credit rating" handwritten with white chalk on a blackboard

“Dear Steve, I have a great job $80k a year, two kids and a wife who watches the two children destroy our home all day. I’m 28 and all of my debt is a whopping $500 or so. The debts are from companies like At&t they claim I didn’t return my equipment (I did), so I refused to pay them ... Read More »

My Car Was Stolen and I Got a 1099 for the Amount Written Off. – Darrin

Big Bad Burglar

“Dear Steve, In 2005 I had a vehicle stolen. My insurance paid the “value of the vehicle” to the lender, however there was $1,000 not paid. After much back and forth with the insurance agency and the lender the lender decided to write off the debt. Now January 2013 I received a 1099 for the year 2012 from the lender ... Read More »

Diagnosed With Cancer, Income Dropped, and Deep in Debt. – Betty

'Cancer' highlighted in green

“Dear Steve, Household income dropped in 2009 by $75,000, during that time I was also diagnosed with cancer, thus, medical bills on top of everything else. Now I find myself with $55,000 in credit card debt and yes, I am making minimum payments but that’s it. I have talked with a couple of different debt relief agences, both debt settlement ... Read More »

I’m Being Sued Over a Bill My Ex-Husband Has For Car Repairs

Divorce papers and cash with misc items

“Dear Steve, I received a letter in the mail from a car repair shop stating that they were taking me to court over an old repair bill of my ex husbands. We were divorced August of 2011 and it was decreed that we each pay half this bill. After the divorce I talked to my ex about it. I told ... Read More »

I Can’t Afford My Car Payments Anymore. Should I Give the Car Back? – Jon

Cheerful female driver huging her new car

“Dear Steve, Bought a used car when working, now no longer working and can barely make car payments. While I was working I could afford to make a close to $300 car payment. Now I’m no longer working and I really need to unload this car even though as much as I love the little car, Due to credit card ... Read More »

Discover Card Sued Me 10 Years Ago and Wants to Renew It. – Barna

closeup of a gavel on cash, from above

“Dear Steve, 10 years ago Discover card sued me but on that time, I was not aware this clearly and my roommate signed that summon. However, on 2003 around June they had a garnishment on my bank account and took all the money I had in my bank account. After that I did not receive any warning from Discover card. ... Read More »

Is Legal Aid Service a Real Company to Charge Me for a Loan Modification? – Carlos

puzzled looking little boy looking to the left

“Dear Steve, I received a letter from my bank and when I called in, the people who answers the phone were not my bank. They wanted my documents so I sent them in. Later on I found out that they are a company named legal aid service and the attorney is a man by the name of Floyd Belsito. The ... Read More »

I’m Disabled and Behind on My Government Student Loans. – Jess

happy woman in wheelchair outdoors beach showing victory sign

“Dear Steve, I have about 42 thousand in gsl debt that has gone through to about 60 K now. I have been disabled and trying to get on ssi/ssdi for about 6 years now. I have an apartment via a government program to assist disabled persons with housing, but have only 115 plus food stamps from the state while my ... Read More »

I Want to Give My House and Car Back and File a Chapter 7 Bankruptcy? – Sasha

future

“Dear Steve, Lost my job a few years back. Got behind on my mortgage & my already high interest car payment. Filed Ch. 13 in 2011 after starting another job that wasn’t paying a lot. Now I’m working making better money but I don’t have a lot of money left after paying my bankruptcy payment. Can I file a Ch.7 ... Read More »

We Got Rejected for a Credit Card Because We Had Been in Credit Counseling. – Lyna

under construction

“Dear Steve, I just finished paying off my credit cards thru credit counseling, bought a house. I then applied for credit card, got denied due to being in credit couseling. How long should I wait to re-apply again? In the mean time, what could i do to erased the credit counseling on my report? Lyna” Don’t miss our free Get ... Read More »

I Have Muscular Dystrophy and Overspent to Give My Kids a Good Life. – Stephanie

mother daughter

“Dear Steve, I bought a house 2 yrs ago for $168,470 and I owe $130,416.53 with an interest rate of 4.625%. My LTV is about 73%, based on a comparable home that sold for $178,000 a year ago in my subdivision. My home is new construction in an university town, where the market value is doing well. Here are the ... Read More »

MyPayDayRelief.com Keeps Calling Me. What About Kala Services? – Rhonda

payday loan

“Dear Steve, I have been getting calls from mypaydayrelief.com and was almost ready to begin the process for allowing them to help me but after reading all your info i am glad i did not fall for this scam. i have 4 pay day loans whom will want money effective friday the 1st of Feb i need a company a ... Read More »

I Screwed Up My Credit When I Was Younger. Now I Want to Buy a House. – Mark

yard

“Dear Steve, Steve, when I was 22 I signed up for a credit card and treated it like free money. I signed up for 2 more over the next few years and maxed them all out. I racked up 20k in debt and paid the credit card companies $100/card a month until I just got frustrated and behind and then ... Read More »

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