Husband Cutoff Access to His GI Bill for Daughter and Now I’m Left Paying for College. – Janice


“Dear Steve,

Please help me I am drowning!!!!! I have five credit cards totaling a balance of around $14,000 and a house payment of $894. I also have a truck pmt of $535 but only five payments remaining. Having to pay college tution and fees at the last minute because my daughters dad had planned for her to use his GI Bill but got upset with her and refuse to let her use it two weeks before her first school day. I have been trying to find ways to cut expenses but can only cut so much.

Please tell me how to eliminate the credit card debt and lower my house payment. My FICO score is around 650 because I am over loaded.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.


Dear Janice,

On the mortgage, contact your mortgage company and ask them about loan modification options.

The only way to reduce your credit card payment is going to be to lower the rate by consolidating with a loan through LendingClub.com or going bankrupt. For bankruptcy advice I suggest you contact a local bankruptcy attorney and go in to discuss your situation.

Please update me on your progress by

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

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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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