Tag Archives: debt management program
- Dave is in a CCCS Credit Counseling Program But Feeling Hopeless
“Dear Steve, Family of 4 (13 yr & 12 yr girls). My salary = $112K, wive’s salary = $40K. Total Assets $292K (liquid $10K, autos $9, house $200, 401K $73K). Total Liabilities $204K (mortgage $112, home equity loan $41K, credit cards $24K, 401K loans $22K, auto loan $5K). Net worth = $88K. . .plummeted 35% [...]
- How to Shop for a Good Debt Management Program
You deserve to feel completely certain that you’ve picked the best organization to help you solve your financial issues. We’ve prepared this list of questions to help you find the right organization to represent you. 1. Will You Send Me Information About Your Organization and Programs? A credit counseling organization should be willing to give [...]
- I Really Screwed Up And Need Some Direction. – Chris
“Dear Steve, Poor, Poor, Poor money management!! I need some direction on what to do. I am terrified of bankruptcy, and want to do anything to avoid it. I have read a number of things on your web site, which I truley appreciate, and you have talked about the failure rate of so many people [...]
- Lauren is Searching For Ways to Get Out Of Debt And Make Her Bad Credit Go Away
“Dear Steve, If I find a consolidation company to help me pay my bills will my bad credit go away? Lauren” The Answer: Dear Lauren, It is usual for people to search for a magic wand that will make their debt go away without impacting their credit report. There really is no such solution, [...]
- I Want to Get a Third Debt Consolidation Loan to Pay Off My Credit Cards Again. – Laurie
“Dear Steve, I’ve lived in my home for 20+yrs.Brought it for 65,000. I’ve refinanced 3 times, one was to pay my ex husband his portion of the house worth and twice to pay off my debts. Now I owe 200,000. plus 37,000. in creditcard debt. My credit scores are still above 710, I’ve never paid [...]
- Does a Debt Management Program Place a Lien on My Property? – Jan
“Dear Steve, My ex and I are selling our home. I am currently in a Debt Management Program. Will my Debt Management be paid off before I get my share of the profit on the home. Is this considered a lien? Jan” The Answer: Dear Jan, A debt management program is a voluntary credit counseling [...]
- I Am 60K in Credit Card Debt And They Are Raising My Interest Rates. – Teresa
“Dear Steve, I am in 60k in credit card debt. All payments are current but am reaching the point where the payments could start slipping. I’m receiving notices from the credit card companies that terms are changing. With this kind of debt, I could be in real trouble soon. I need one payment and then [...]
- Trish Says “Credit Counselor Is Going Out of Business And I’m Late On Payments”
“Dear Steve, I have been enrolled with a consumer law center that was working with my creditors on my outstanding credit cards. I was late on payments up to 4 months. I was told today that the law center is closing without helping to pay off my creditors. I was making payments to them at [...]
- Jay Got Sucked Down With The Falling Real Estate Market
Jay “Dear Steve, I recently remodeled a house. I got the house for such a good deal that I had no problem using credit cards to pay for the repairs. Unfortunately, the market tanked as I was putting the house on the market. What I am left with is a $2000/mo mortgage and around $45,000 [...]
- AK Wants to Use His Credit Cards to Consolidate His Debts
AK “Dear Steve, My debt ratio seems high to me and I am thinking about using my credit card to consolidate my debts. I also, need to know how long to keep statements. I want to reduce clutter, but am not sure if I should keep bank statements and other statements since I do online [...]
- Should I Quit Paying Bank of America For My American Express? – Becky
“Dear Steve, I have a BOA American Express card that was originally about $500.00 – I’ve paid every month and for the past 4 years made no new purchases. Interest rate is 25.99% and with all the monthly late fees / interest rate my balance is almost $2k. I’m falling further into debt with this [...]
- I’m Current on My Credit Cards But Want to Consolidate Them. – Laurie
“Dear Steve, I am current of all of my debt. Do not have any past due debt. I do have about 25,000 in credit card debt and would like to consolidate, however am having a difficult time finding someone. Also, my main problem is that I have a Bank of America card fo 12,000 that [...]
- 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 [...]
- Is Debt Management and Credit Counseling An Effective Way Out Of Debt?
So many, too many reporters and writers recommend debt management programs and nonprofit credit counseling as a way to get out of debt, but why? I’m afraid the answer is that they always have and suggesting a nonprofit credit counseling solution seems harmless and better than offering the alternative, no real solutions. The credit counseling [...]
- Diana Is Struggling to Make Credit Card Payments And Afraid
Diana “Dear Steve, I have approximately $25,000 in credit card debt, drained my savings and struggling to meet my payments. I can pay my mortgage and normal billing but not the cards I am so confused about wha is available out there and frankly scared that I may not do the right thing with a [...]