Tag Archives: credit cards

How Do We Get Out of Debt Without Hurting Our Credit? – Amanda

“Dear Steve, We have a LOT of debt and have some rental houses. Have several cards that are maxed. We still barly make all the bills on time, we don’t want to lose our houses, and we really don’t want to get bad credit. So what do we do? How do we get out of [...]

MJ – “I’m Ill, I’ve Got Bills, And I Don’t Know What To Do”

MJ “Dear Steve, I’ve been able to work very little because of severe health issues. Sadly they are on going, with uncertain prognosis. Medical bills mounting as well. (about 5K). I’ve been living off of credit cards and can no longer keep up with payments. Approx 2k per mo. in credit card payments. I’m not [...]

I’m in College and Getting Sued by CapitalOne. What Do I Do? – John

“Dear Steve, Full time college student with debt from credit cards and past balance for a college in California. I’m a 21 year old college student (about a year left of school) My student loans are all deferred until I graduate, but I have two credit cards and a balance from a college I used [...]

Kayte Has Drained Her Savings And Can’t Pay The Bills Anymore

Kayte “Dear Steve, My husband and I have roughly $75,000 in credit card debt. Due to the economy, we both have experienced a substantial decrease in our income (i.e., commission based pay). We have exhausted our savings trying to keep up with our mortgage payment, credit card payments, car payments and other cost. We are [...]

In a World of Hurt Writes and Wants to Know “Should We Tell My Parents?”

I got the question below through the GetOutOfDebt.org site from someone that identified themselves as In a World of Hurt. Feel free to visit GetOutOfDebt.org and ask me your question, you can use an anonymous name, it’s okay. “Dear Steve, We owe $103,000 on our first mortgage, $16,000 on our home equity loan, and $17,000 [...]

April Writes And Asks “Is There A Debt Program That Can Help Me And Protect My Credit?”

April “Dear Steve, I am married with three children 11, 4 and 3, I also have an 11 year old step son. We live in Jersey. My husband is a disabled vet (from the first gulf war). He gets a pension and I work at home so I can take care of the kids our [...]

Steve Writes In “I Want to Cash Out My 401(k) And Pay Off Debt.”

Steve wrote me through the GetOutOfDebt.org site to ask his question below. You can too! “Dear Steve, I currently make $46,000.00 per year with no benefits. My wife’s income is $19,800.00 per year. Three years ago her income was $35,000.00 per year. We have racked up about $20,000.00 in credit card debt and have a [...]

Teresa Writes In And Asks “What Should I Do Next?”

“I have a lot of debt. I fell behind after being diagnosed with cancer. All the medical bills were paid at first but I maxed out credit cards and then took out a HELOC. The HELOC made my debt worst because it just consolidated the debt but left open credit that was used again. Now [...]

Business Noticing Increase in Credit Card Purchases. Not a Good Sign.

Business noticing increase in credit card purchases Bay News 9, FL - 1 hour ago Americans now owe an estimated $850 billion in credit card debt , which is four times as much as in 1990. Consumers aren't the only ones affected by the …

We Went to a Bankruptcy Attorney And Was Told Bankruptcy Was Not a Good Thing. – Barcia

Barcia “Dear Steve, Do to lower salary can only pay mortgage or credit cards of 100k. Went to bankrupcty attorney and he said we do not qualify for chap7 and chap 13 was not a good thing. Told us to stop paying credit cards and only mortgage. We have done that but are afraid credit [...]

Should We Stop Using Credit Cards Altogether in America?

An interesting story on Marketplace about the possibility of living a life without the use of credit cards in the America. Listen to story online. @GetOutOfDebtGuy

Don’t Pay More Than the Minimums on Your Credit Cards

I know this is going to sound like crazy talk but keep reading. Now is not the time to pay more than the minimum payment on your credit card if you don’t have a lot of money in savings. If you thought the foreclosure crisis was bad, just watch what is going to happen to [...]

Credit Cards From Beyond the Grave – Just Because You Need to Laugh

Jenni Can’t Make the Car Payment and is Behind on Rent and the Clutch Just Went

Jenni “Dear Steve, I am behind on my car payment. I can’t pay my rent this month. The clutch just went out on my car. I work two jobs but I can’t get to them now that my car is broken. I joined the Army but I don’t leave until January. How can I get [...]

John is Worried His Debt Will Scare Away His Fiancee

“Dear Steve, Here is the situation. I have 50K of debt between credit cards and lines of credit and a 20k vehicle loan. When I first met my fiancee, she asked about credit card debt, I was defensive about it so i just told her that i didn’t have any. She knew I had a [...]