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Security Clearance

I Got a Call From a Student Loan Helpline Company About My Loans. – Tracey

Drowning swimmer

“Dear Steve, So I have roughly $75k in federal student loan debt, that due to economic hardship, I am having difficulty paying. I got a call from one of these so called “Student loan help line” companies that told me that if I let them consolidate my loans that the max I would have to pay is 197 payments and ... Read More »

Sick Daughter Led to Debt. How Can I Get Out of Debt and Not Hurt My Security Clearance? – Mike

top secret

“Dear Steve, My wife and I have about $65,000 in credit card debt. It started when our daughter was born 12 years ago with a severe rare medical condition. In order to stay up on medical bills, mortgage, utilities we resorted to credit cards to offset our income. Over the years this added up on us. We are not late ... 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 »

Military Debt Management Agency MDMA Hits Military and Consumers for Student Loan Help

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A tipster (send in your tips here) sent me a fee schedule from the non-profit credit counseling group Military Debt Management Agency (MDMA) in Florida. The reader was concerned that this non-profit 501(c)3 IRS approved charity that is supposed to be helping military members and general consumers was taking advantage of those with federal government student loan debt, by charging ... Read More »

I’m Falling Behind on My Other Bills to Keep My Payday Loans Current. – Rebecca

top secret

“Dear Steve, I have 2 payday loans 1 for $650 w/a local loan service and 1 for $750 with a online company. I’m current on my payments with both (online company withdraws from my bank acct) but I’m only able to pay the minimum balance owed and I’m falling behind on all my other bills. It seems like I’m paying ... Read More »

So You Are Going to File Bankruptcy. That’s Good News. Congratulations.

The decision to file bankruptcy should be a celebration.

Here is something you don’t expect to hear people say, “If you file bankruptcy your life will get better.” Well, I did file bankruptcy and my life did get better. Within three years after our bankruptcy we had purchased a house and before that had rebuild great credit using secured credit cards. In fact for me, my financial failure and ... Read More »

What Planet is Debt Free Angels On? I’m Going With Uranus.

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A reader sent in a tip about a claim made on the San Antonio, Texas Debt Free Angels website (debtfreeangels.com) regarding how their service helps protect a security clearance. I thought they certainly can’t be saying that. And there it is. Debt Free Angels is a debt relief company that has appeared in this site before. You can see past ... Read More »

My Job Went to China and I Don’t Want to Ruin My Security Clearance With My Debt. – Jeff

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“Dear Steve, After 21 years with the company where I thought I retire my position was eliminated when our manufacturing processing was moved to China. Went from an $85k income in 2005 to $42k now. In my arrogance I thought I would be back and the same level within a couple of years. Over the past 7 years we have ... Read More »

Retiring Military With Big Debt. Should I Cash Out My IRA to Protect My Security Clearance? – Tim

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“Dear Steve, I am a retiring military officer with about 3200 in post tax income for retirement. This is enought to pay my mortgage and put food on the table. I also have a mass mutual whole life annuity for 250000 and my retirement check will have survivors benefit of half current payment. I am 40k in credit card debt, ... Read More »

Credit Reports, Credit History, and Credit Scores in Hiring and Job Performance. Is It Even Fair?

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You hear all the time how credit history can impact your ability to get a job. In the debt relief world debt settlement and credit counseling companies claim bankruptcy prevents people from getting jobs and that’s why people need to use their services instead. But what is reality and what is the negative impact of alternative interventions like debt settlement ... Read More »

My Husband Could Not Get a Job in Qatar Because of His Bankruptcy.

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We filed for bankruptcy January 15th of this year, 2012. It was our only option as my husband is a Surveyor and laid off last fall. While we are happy and relieved not to have any bills, however my husband is still looking for work. Recently he was offered a job in Qatar and was not able to proceed in ... Read More »

Credit Cards and Government Student Loans Need Debt Relief and Debt Advice to Enter Military. – Paul

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Sir, I wanted to ask you what my options are concerning my credit card and government student loan debt, as it seems that everyone has special interests and they are not primarily interested in helping you first when it comes to debt relief. When I went to college in 2003 right out of high school I was a full ride ... Read More »

My Husband is an Army Recruiting Commander and We Can’t Afford Our Bills. – Enisha

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“Dear Steve, We desperately need help. We have 3 children in our home (total of 5). We are in financial ruin. So much so that it has prevented my husband from getting a promotion. He is currently a Recruiting Station Commander in the Army. We have sacrificed and moved a few times to help progress his career and now because ... Read More »

Consumer Debt Restructuring 101: What It is and Why You Should Avoid It

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In my previous article on Debt Restructuring I mentioned it was not a magic solution. So let’s look deeper into what all of this is about. Diving Deeper into Debt Restructuring The minute a debt relief product can’t be easily explained in 30 seconds, the more my radar goes off. That’s exactly what happened when I started looking more closely ... Read More »

I Want to Pay HSBC But They Won’t Take My Money. – Steven

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“Dear Steve, I have an account with hsbc I could not afford the crazy interest rates they imposed on me So I was paying what I could and they closed my Account, I want to commit to a repayment plan but They refuse to talk! What should I do? I am a government worker and I’m afraid of losing My ... Read More »

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