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My Car Was Repossessed, My Wages are Garnished and I’m Not Sure if Bankruptcy is Right for Me. – Nancy

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“Dear Steve, I have gotten myself into some serious financial problems. While I know that mine is not as bad as some I am behind on every bill and my car was repossessed last night. I am a single mother to 3 girls and I yes I do have a full time job. My husband passed away in 2003 so ... Read More »

I Left Qatar Owing Money. Will I Be Arrested in India?

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“Dear Steve, I left qatar with unpaid loan 135000QAR(no credit cards). Due some personal issues i have faced during my vacation in india i couldnt report to the duty on time, so the company terminated my agreement. And last one year i am in (jobless )trying for competitive exams . i have signed blank checques of dohabank during the loan ... Read More »

My Private Student Loan Company Won’t Let Me Pay What I Can Afford. – Mitch

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“Dear Steve, I’m a first generation college student, and attended Hartwick College for 1.5 years until transferring and finishing college at SUNY Oneonta. I owe near 80k from my college years. I had two private student loans that were held thru CitiBank for a total of near 20k. Citibank worked with me on deferment, income based repayment, and delaying payments ... Read More »

Can My Creditors Take Other Business Property to Repay a Debt? – Dee

Empty Store at Shopping Center / Mall

“Dear Steve, Business owner of an LLC secured a contract worth $35,000 using 100% fully-owned equipment (fair market value of $50,000). Creditor has in his possession part of the equipment (part of a crane), while debtor has another piece to the crane. Creditor also has in his possession 3 other pieces of equipment, 2 which have had work/improvements done on ... Read More »

CFPB Gives Private Student Loan Debtors a Little Glimmer of Hope

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Today the Consumer Financial Protection Bureau (CFPB) announced they will begin supervising nonbank student loan servicers for the first time. While the new rule does not alter or modify any repayment plans consumers are thirsty for in order to manage their private student loans, supervision is a step in a positive direction. The new rule and supervision is really aimed ... Read More »

While I Don’t Always Agree With Dave Ramsey, He’s Right On This

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Dave Ramsey calls American’s stupid when it comes to student loans. Judging by the number of questions I get like he described, he’s on to something here. Read More »

Can I Settle My Private Student Loan Debt? – Tim

Alone and Lost

“Dear Steve, Unemployed for two years after college, defaulted on one of my private student loans, delinquent on others. Credit is already terrible. I have three private student loans, one of which I have already defaulted on. I recently came in to some money and want to use it to wipe out my student loan debt, or at least as ... Read More »

Sallie Mae Won’t Lower My Payment So I Can Afford It. – Kristen

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“Dear Steve, I have both federal and private loans through Sallie Mae. I used my private loan to pay for housing for my child and I. Sallie Mae is working with me in paying back my federal loans by using the income based repayment alternative. However they will not lower my monthly payment on my private loan to an amount ... Read More »

The Most Unique Debt Relief Help Wanted Ad Ever

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The debt relief industry never ceases to amaze me. A big hat tip goes to Damon Day for pointing out this help wanted advertisement to me. This one is certainly unique. Here is a debt relief company that starts off by calling all the other schemes we’ve lived through, scams. “TIRED OF SCAMS YET? Help Families &Make $$$ Student Loan ... Read More »

Will Our Second Mortgage Vanish After Our Chapter 13 Bankruptcy? – Lisa

Mature woman confused

“Dear Steve, My husband and I filed a CH13 in efforts to save our home. 2nd mortgage was stripped and court. 4 months into bankruptcy, trustee felt we could pay 100% of debt which we would be paying a lot more than what we were originally paying overall. We pulled out of BK and got a modification for our home. ... Read More »

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