Tag Archives: reduced income

Lost Job, Reduced Income, Medical Bills and We’ve Depleted Our Savings. – Shelly

“Dear Damon, My husband lost his job about 2 years ago, which reduced our income. He has had some medical problems which we were trying to resolve before he got another job. We have about 45k in debt ( not including my student loans)and only about 10k in home equity. Gross salary of approximately 58k [...]

My Income Dropped But My Expenses Remained the Same. Help. – Jon

During 2010 my income dropped in half, but my family’s living expenses stayed constant. As result I’ve accumulated about $45,000 in debt. I paid off approx. $30,000 with an equity loan, but in this savage economy feel as though my debt will continue to increase. I thought of bankruptcy, however, I’m not sure how that [...]

Our Income Was Cut 65% and We Can’t Pay the Bills. – Karen

“Dear Steve, My husband lost his 77K per year job. Although he has found another job, we are 50K less in income. I am able to make payments on credit cards but always incur late fees as well as the balance is going no where. We filed bankrupty in 1998. I have called credit card [...]

I’d Like to Cash Out My 401K, Get a Home Equity Loan and Reinvest it in an IRA. – Rik

Rik wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]