First of All, Yes I Am Screwed. – John

“Dear Steve,

First of all, yes I am screwed. As of today I am current and have paid all my bills on time my whole life. Yes, we have been living paycheck to paycheck just like everyone else out there, trying to get through these few years. All this CC dept is left over for time in collage. Followed by many years of low pay “paying your dues” Finally about 3 years ago “paying all those dues” stated paying off, and we started to cut down what we owed. But, since the down turn, things have gone the other way.

Right now I have may CC maxed out for the most part. The home that we live in is well below the average US price, and I owe 5000 on one of our cars.

But today I found out that I will have take another paycut and this one will put me 300 bucks shy of just paying my fixed bills (CC, home, car, power, water, ect) with 100% chance of no overtime, or any other way to come up with cash. I would take on second job but this one would hardly let that happen, not at home enough. Changing employers would mean 60% loss in income.

What do I do, stop paying the CC bills so that my family can eat. Right now they CC’s rate is not to bad all within the 9-12% range. But if Stop paying them I know that that will go up. All I see coming is a trip to the court house and having to file.

Any suggestion would really help


Dear John,

Do you stop paying your unsecured debt so you can eat? Yes.

You are facing a situation which is emotionally difficult but rather easy to technically address.

Here are the facts as I see them from your question.

  1. You have had a reduction in income that is beyond your control.
  2. Your debt, for whatever reason, is more than you can handle on the current income.
  3. Bankruptcy is a legal and viable option that will address the debt situation and give you legal protections under the law.
  4. You simply can’t afford to pay the unsecured debt and make ends meet.
  5. Even if you did manage to make it just barely month-to-month, where is the spare cash to save in case of an emergency?
  6. Without bankruptcy you can’t save. Without saving you can’t protect yourself from emergency expenses that will come up that you can’t put on credit that’s maxed out and you can’t afford.
  7. Unless your income is going to increase, the inability to make payments will land you in collections, and based on what you’ve shared no amount of collection pressure is going to squeeze blood from a rock. You just don’t have it.
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Does that about sum it up?

My suggestion is that before the situation gets worse, that you immediately click here to find a local bankruptcy attorney and go see them, PRONTO!

Please update me on your progress by

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.

Steve Rhode

5 thoughts on “First of All, Yes I Am Screwed. – John”

  1. The video is very incriminating, I am a friend of the family you lied about I don’t know who their attorney is. I certainly would not be want to pursue this if I were you. its very sad you did this. The family are very concerned that you may now give out their social numbers and credit card details. Please don’t do that. I will email you the url not on this public forum I think thats best.

    • Your accusations are illogical and somebody is not telling the truth here and it is ether you or their attorney. I have forwarded your comments to him.

      How in the world would I be able to track down a random and unknown couple in Florida and some how magically find out information about their medical condition and level of debt. And if your allegation is that I make up questions then why would I bother to hunt down some strange couple to find out their information to what, write a fake question?

      I encourage you to publish the URL of the alleged video publicly so we can discuss this issue openly and I can direct their attorney to watch the video and confirm the people you say are in the video are his clients.


  2. Please don’t take advice from this Rhodes guy, he is posting fake questions and blaming other debt settlement companies as he provides leads for cambridge counseling. There is a video online of an old couple in Florida who’s information he stole and then posted on the web. He has now changed the name from William to Bill. I suspect someone has caught up to his game he does not deserve your respect… This video is sure to be picked up by the wider media that more couple… Rhodes how low did you go this time, just to give one of your competitors a bad name.

    • John,

      I’d love to see this alleged video. What’s the URL?

      None of the questions are fake. All are reader submitted.

      How would I get ahold of somebody’s information to then create a fake question? Seriously, how?

      In the question you are mentioning, this one, I actually changed the name from William to Bob when I was contacted by an attorney working with Morgan Drexen saying that the question posted resembled his clients (it did not contain identifying information or a location) but he was not able to confirm the information of his client so I could compare it against the information provided by the person that submitted it.

      What is interesting is that the issue was only known between the attorney in Florida and myself.

      I’ll contact the attorney, submit your comment to him and let him know I’m going to release the emails between him and I to show your allegations are just wrong.

      As far as who i work with all you have to do is read the site terms here for full details.


  3. I concur, as I read your comments at the beginning… the first thing that screamed at me loud and clear was a bankruptcy…. I am a retirement planner and have seen too many people, simply for the sake of dignity, avoid BK…. but in such circumstances, you need to protect your family from the worse pain of constant emotional distress of not being able to pay your bills. The BK will be hard to think about for a while, but that pails in comparison to the feelings of inadequacy and guilt that come from not being able to pay bills and the constant reminder from creditors that renew those ill feelings.


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