Tag Archives: home equity loans

Would It Be Better To Use a Home Equity Loan to Pay Off Credit Cards or Go Bankrupt? – Carolyn

“Dear Steve, With only $30,000 left on current equity loan and $29,000 in credit card debt – what would be better – cash out with new equity loan (which I can do) or file for bankruptcy? With bankruptcy – I’m afraid that a I would not be able to help my disabled daughter and end [...]

Constipated Lending Makes Economy Ill

Our economic life cycle is dependent on all all parties doing their fair share of the heavy lifting. Finance companies and banks lend – consumers buy stuff using credit – stuff must be built – jobs are created and so forth. We keep hearing about a crushing windpipe grip on banks and the government pleading [...]

Bankruptcy Rates To Significantly Increase Next Spring From Ho-Ho-Ho Hangover

I just did an interview with the Christian Science Monitor and we were talking about holiday shopping. The question was if I thought people were going to significantly cut back on holiday shopping to live within their budgets. Sadly, I don’t think they will. Gift giving and shopping at this time of year are ingrained [...]

Ed Is Scared But Courageous In The Face Of His Debt

“Dear Steve, Let me start by saying it has been very hard for me to get to this point and ask for help. I hate that I am where I am financially (due to factors both within and not within in my control). I’m 45 years old and for most of my life used to [...]