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Tag Archives: parents

My Parents Have to Help Me Pay My Debt. – Karen

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“Dear Steve, I have about $36000 of unsecured debt. I am able to make minimum monthly payments on my debts, but that is with my parents paying on one of my accounts for me. Also, I am continuing to use my credit cards for gas, groceries, prescriptions because the monthly payments take most of my income in addition to rent, ... Read More »

My Elderly Parents Were Scammed by a Relative. Now They Are About to Lose Their Home. – Maria

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“Dear Damon, My elderly parents were scammed by a relative without them knowing until the relative died. They were about to lose their home of 20 something years. I could not get a loan to help them because my credit is bad and I am in chapter 13 bankruptcy with 3 more years to go before it is discharged. So ... Read More »

Should I Bailout My Parents From Their Debt? – Angela

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“Dear Steve, My parents owe $36,000 in credit card debt and have a $120,000 home equity loan on their home (valued at $285,000). They are in their late 70′s. My father does not work and my mother works a $9.00/hr. job. Their total monthly net income including SS is around $3000. They have been turned down for additional home loan, ... Read More »

My Parents are in Their Late 80s and Can’t Make Ends Meet With Chase Card Increase. – Brenda

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Brenda “Dear Steve, I helped my parents in their late 80′s transfer balances to a low 3.99% till pay down, because they had been solicited by a number of credit card companies to go ahead and use the convenience checks for a low promotional which grew to over 36% interest. They used it to pay their property taxes, insurance, heating ... Read More »

My Parents Are in Bad Financial Shape. I’m Worried. – Angie

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Angie “Hi Steve. My parents are 60 years old and have raised 5 wonderful children. They have struggled with money for many years and still continue to struggle with it. My dad has come to me twice within a year to help out financially with lending him some money which I happily did. This last time though was a large ... Read More »

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

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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 in loans and credit cards. ... Read More »

I’m $850 in Debt, in College, and Don’t Want to Tell My Parents. – Jessica

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“Dear Steve, I am a college student with 2 years left of undergraduate school and then one more year for grad school. I got a credit card last summer and was doing fine until school started. I couldn’t find a job so my bill racked up to around $850. I still am unable to find a job and I am ... Read More »

Are the S Corp and LLC Debts Debts Going to Cause Us to Lose Our Home? – Sally

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“Dear Steve, Bankruptcy Questions??? To file or not to file???? My husband has had an S corp for 12 years, he is the sole owner and whilst business was good he was paying all his bills and the mortgage. A couple of banks also gave him Credit Lines of up to $80,000 based on his tax returns. He had to ... Read More »

Three Years Ago We Had a Very Rough Year and Now Facing Rising Interest Rates. – Erin

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“Dear Steve, My husband has his own business and 3 years ago we had a very rough year. We lived above our means and we now have $40,000 in credit card debt. We have $8,000 on a 14.99% credit card and eventhough we make our payments on time and sometimes even several payments a month (this is our active business ... Read More »

Borderline Abused Ohio State Student Ready to Start Digging Out of Debt. – Debbie

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“Dear Steve, I am a student at Ohio State, and I have about a year left to go in school. I am pretty detached from my parents, who were both unfit and borderline abusive as I was growing up. I left home at sixteen to make my own way, and since then I have not seen a dime from my ... Read More »

My Mom is in Debt and She Cries Every Night. I Can’t Stand to See Her Sad. – Calvin

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Calvin “Dear Steve, Hi, my mom is in debt and she cries every night. I can’t stand to see her sad. The economy is horrible and we may not be able to afford our next house payment. How could I, a 13 year old help my mom. I will work, I will fight, I’m willing to do anything. Please just ... Read More »

Charlotte Writes In, “I’m Desperate To Get Out of Debt”

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Charlotte wrote to me at GetOutOfDebt.org and asked for free advice and help, which I gladly give. You can write me using the forms on the site. “Steve, I owe nearly $20,000 on a loan, a bunch of credit cards and some store cards as well. I’m 27 and I still live with my parents because I just can’t get ... Read More »

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