Tag Archives: financial hardship

Chloe Ruins Credit of Daughter With American Express

Chloe “Dear Steve, My daughter opened an AMEX card for me since my credit is fair. She got me a card in my name off of her account to be used for emergencies For the first 8 months of the card I was able to pay the bill however in mid July I came upon [...]

“I Have Three Degrees But I’m Broke And Miserable”

Theresa “Dear Steve, I have $75,000 in school loans and I have one job bringing in $360 per week after taxes and another job where I make $150 per week after taxes. My car payment is $251, rent is $600, utilities are $130, Food is $80, and water is $45. I have a 401(k) with [...]

Anne is Struggling With Her Student Loans and Sallie Mae

“Dear Steve, I am currently in debt management and I have used up all of my forberance. I cannot make the payments. Half of my take home pay goes to debt management. Is there any way I can postpone payments rather than forberance or financial hardship? Sallie Mae will not give me financial hardship–they say [...]

John Wants to Know “If I Consolidate My Debt On One Account Will It Hurt My Credit Score?”

“Dear Steve, I opened up too many credit card accounts in the past two years i recently joinend a credit union bank which offered me a chance to put all my credit cards under one account. I owe about 3,000. I also only make about 1,400 a month so at times I’m only able to [...]

New Concerns About 40% Credit Card Debt Reduction Proposal

Last week I wrote an article Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out but more information has come to light since then. While consumer advocates are happy about the possibility of getting banks to write off as much as 40% of the debt in order to [...]