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Reader Questions

Can the Creditors Force My Mother to Sell Her House? – Leigh Anne


My step-father recently died and my mother is living on disability and now only a small portion of his social security and retirement. He only has 41K left in retirement. The company he worked for went bankrupt. She has no other income. They have a house payment which she can still make. She can afford her utilities and groceries with ... Read More »

Divorced, Single Mom, and Being Sued by Chase. What Should I Do? – Ellen


I divorced about 5 years ago and moved with my work. I am a single mom. I lost my job 2 years ago, used up all my savings. I also accumulated a lot of credit card debt. I work and make just enough to pay the basics. I am being sued by Chase and know I need to answer in ... Read More »

Had Some Financial Trouble and Payday Loans. – Brittany


Had some financial trouble and had a couple payday loans. The payday loans that I had are now unpaid due to a huge unexpected bill. Not long after that I began getting calls from people with heavy indian accents saying that I will be arrested if I don’t pay them money. (one even said I would spend Christmas behind bars). ... Read More »

In Debt, In Trouble and Need Help With Pentagon Federal Credit Union. – Gary

Gary & Dana

Due to being laid off from my employer, I’m struggling to pay my bills and have fallen behind on my car, electric, phone and mortgage payments. After having my current financial situation carefully analyzed, I have concluded that it is no longer possible to comply with the original terms of the agreement. I have no choice but ask you for ... Read More »

My Income Dropped But My Expenses Remained the Same. Help. – Jon


During 2010 my income dropped in half, but my family’s living expenses stayed constant. As result I’ve accumulated about $45,000 in debt. I paid off approx. $30,000 with an equity loan, but in this savage economy feel as though my debt will continue to increase. I thought of bankruptcy, however, I’m not sure how that would impact my agency and ... Read More »

My Parents Put Me On Their Credit Cards When I Was 15. Now They Use My Credit. – Emma


When I was 15, my parent’s started building my credit by placing me on their cards. Today, I have excellent credit. However, about maybe two years ago, my parent’s lost our home to foreclosure, and their credit was ruined. They now use my credit when they need it. They take care of all those debts. So my credit has obviously ... Read More »

I’m Totally Broke and Drowning…Help! – Linda


I am 47 years old and single mother to two teenaged children. I have a decent job and make good money for the area where I live. I bought a home in 2008, put $30,000.00 down on it (nearly my entire life savings). My house payments, insurance and taxes are equal to 2 weeks of my pay. SO one entire ... Read More »

What’s the Best Way to Fix My Charge Off and Get it Removed


Fixing charged off debt A few years ago I took a 25k loan which eventually I could not pay back. The debt has been charged off, and occasionally a company sends letters saying that they want their money. Recently I’ve began working a new job that pays very well, so I want to fix all my “credit” wrong doings. Since ... Read More »

I Need to File Bankruptcy Again on My Medical Debt. – Chris


Before May of 2009 I NEVER had anything late, no credit cards, no car payment no utilities late! But on May 2, 2009 my son was a passenger in a horrible car accident where I had to stay in the hospital with my son for over 53 days and EVERYTHING fell behind in July, 2009 since then, it seems like ... Read More »

I Have an Advanced Degree. How Do I Deal With My Excessive Student Loans? – Zach


Just completed my doctoral degree and I have student loan debt in excess of 200K. I work for a non-for-profit organization working with the underserved and I make very little money, for now. My loans are due to begin repayment in a few months and I do not know where to start as far as what options are available to ... Read More »

Student Loan Debt Too High For Single Mom On Food Stamps. – Rabia


Dear Steve, I have been struggling for 4 years after divorce, just to make ends meet. My student loans went into default when I was married to a man with money who said he was paying them and wasn’t. Now I have about $183 each month after rent and utilities, I receive food stamps, and I got a letter from ... Read More »

Should I Pay Down My Private Student Loans or Just the Minimums? – Anthony


I am a recent college graduate with $80k in student debt. I attended a private college in Santa Barbara, CA, thinking they would provide the best education, an awesome alumni network, and a solid leg-up above the competition. True, I am working for $32K a year while my counterparts are struggling to work at Borders, however I have a lot ... Read More »

Bankruptcy or Debt Reduction. What Should I Do? – Brenda


My question is which is the best alternative: dealing with a company who promises to help reduce of eliminate the debt or file bankruptcy? Total credit card debt is around 40,000 and am keeping up the minimum payments but looking at the interest rates, the debts are likely not to be paid until years from now. Also, these payments pretty ... Read More »

I’m a Military Vet. How Can I Get Out of My Truck Payment? – Charles


Military vet about to be in the reserves to finish my obligation I have the same question as yvonne. I purchased a truck in 2007 and it is worth about 4000 to 500 dollars but my payoff is 7300. I cant sell it for the amount i need because im in PA and its two wheel drive and its not ... Read More »

Do I Have to Pay an Old Visa Bill? – Hector


Visa bill was disputed with card issuer 5 years ago over a purchase done through eBay that was damaged and not done through Paypal. Selelr said we didn’t buy insurance and USPS denied damage claims. Visa said they covered purchases, but not used items. We refused to pay and cut our Visa card. 5 Years ago we disputed a bill ... Read More »

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