Ask The Get Out of Debt Experts Bankruptcy Related

I’ve Been Reading Your Book “Eliminate Your Debt Like a Pro” and Have Some Questions. – Richard

“Dear Steve,

I have been reading your book ” Eliminate Your Debt Like a Pro”, and really appreciate your thoughts and caring for people with debt issues. Thanks.

I have a couple of questions and will very briefly describe my situation.

I have very sizable credit card debt to the tune of about $66,000. I do make a decent living that is stable and so far have been able to make my minimum payments. I am concerned though that I may reach a point that I will not be able to make the payments. I am working on new forms of income but whether this will work remains yet to be seen.

Here are my questions:

1) I have read what you said about bankruptcy. The problem for me if it comes to this is that I also have issues with my taxes that may prevent me from declaring bankruptcy should I have to. Could you direct me first of to some resources where I can gain good info about the process of bankruptcy, what is required of me to take this step, and how it works.?Also, do you know of anyone who would give good council about bankruptcy?

2) I have looked into debt consolidation, and looked into debt repayment programs and have not found a workable solution yet. Do you have direction in this area as to more info about these processes?

3) Are you available beyond these written questions to offer more hands on advice should I so desire?

Any info would be greatly, greatly appreciated.

All the best, and thanks for you kindness to people in my situation.


Dear Richard,

I’m glad you found my book “Eliminate Your Debt Like a Pro” that I give away for free to help people. Thanks for reaching out for help.

Unquestionably, the best source of qualified information about bankruptcy and your specific situation is a bankruptcy attorney licensed in your state. If you want, you can click here to find a local bankruptcy attorney. They will meet with you for free to discuss your situation. If you don’t click with the first attorney, find another one. Use the phone book or search on the web for a local bankruptcy attorney.

The attorney will be able to give you feedback about your tax situation and bankruptcy but I can’t see any problems. Old taxes can be discharged in bankruptcy and taxes you have to pay will be easier to pay after bankruptcy.

I know of no viable debt consolidation loan that would lend more than $25,000 and that’s not really enough to make a major dent. In a credit counseling program your payment is going to be pretty close to the minimums you are struggling with now so that’s not really a solution either.

As far as offering personal consultations, it’s just not something I do anymore, too busy. But Damon Day does and you will find him to be an excellent debt expert who can help guide you on your journey.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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