Ask a Question – Get Personal Debt Help from the Get Out of Debt Guy

Hi, this is Steve, your Get Out of Debt Guy. If you have a question you’d like to ask, you can ask me using this form.

If you’d like to leave a message with your question for my podcast, you can click here.

But if you want my help, here’s why can I help you? I’ve walked in your shoes and know what being in deep problem debt is like. Let’s not forget I’ve been helping people with debt problems since 1994, I’m the author of a bunch of debt books you can download for free.

Seriously, I know what I’m talking about and provide advice and help based on what I think is the best option and choices for you to consider in your specific situation. I’m not trying to steer you towards any particular solution or sell you a damn thing.

Ask Me Your Question for Me to Answer on the Website

Just click here and use this form or fill out the form below.

16 thoughts on “Ask a Question – Get Personal Debt Help from the Get Out of Debt Guy”

  1. That’s up to Sears if they want to report it or not. They don’t have to. Better to be the primary card hold of a major credit card than an authorized user of a store card.

  2. i have 44,000.00 in credit card debt!! i am looking in to rescue one lending my main concern is how will this look on my credit in the future? i was also told to quit paying my bills to the credit card companies and i worry they will come after me i have never paid a bill late in my life!!

  3. Steve: I live in OH and in this state CashnetUSA is operating as a Customer Service Organization through their online payday lending service. They have charged me over $3000 in roll over fees to ‘renew’ loans, and claim that none of this money can go towards paying the lender because they aren’t the lender. They also make ACH as a condition of their services. I feel they are somehow breaking the law or misusing their CSO status. Now they claim they have ‘bought’ the defaulted loan from the lender and are trying to collect on it as the debt collector. I was under the impression that this is not how a CSO should operate. Any thoughts on this.

  4. These people never learn. I got a call from some guy named ‘Steve Adams’ who said he had papers on me and if I didn’t call 1-855-565-3760 to speak with someone immediately he was going to show up at my door or my place of work tomorrow. Oh boy can’t wait to have him arrested.

  5. Hi,
    I lost my job in 2010 and had a home that was foreclosed in 2012. I had a 2nd mortgage with a balance of 56k. This value was reported to my credit report as charged off. A collection agency (Apelles) has contacted me stating I owe 71K. What should I do about this? Should I offer to settle this for 3-5% of the 56k?

  6. i worked at saudi (different passport)& left before 4 years, when i entered Saudi they took finger print & eye ball. now i got my original passport is it safe to go Dubai. my freind says immigration Saudi, Dubai, Oman & Kuwait or connected so you can’t use different passport. Someone pls explain is it safe to travel Dubai

  7. I went to a for profit college. I owe $16,000, and my account has been written off as bad debt. I pay on it when I can, because I work part time in retail. Also, I re-enrolled in school, because lets be honest, my previous work history was non existent, and my qualifications were not stellar. But since then, I have gained more knowledge after re-enrolling in school and paying my way. I will soon be qualified to work at a better paying job. The problem is, I want to go on to get my B.A.S at a university, but cannot get my transcripts. My current college has been very gracious considering my situation, because they may not need to see those transcripts, but universities are very strict with deadlines and regulations. Do you have ANY advice?

  8. I am a solo attorney in Indiana and I have been developing what I consider a somewhat innovative perspective to “getting out of debt.” Specifically, I think that for many Americans, the reality is we will always be “in debt” to some degree, and part of taking care of our lives is recognizing that.

    Rather than telling clients how to “get out of debt” or “avoid debt” I have turned to focus on how to help clients protect assets, regardless of how much debt they have. The reason is simple: the debt relief laws have been adjusted in creditors favor to the point that, when combined with ever-shrinking standards of living and wages, many Americans really have no hope of truly being solvent for a predictable amount of time.

    Any college student who graduates with a student loan balance greater than their annual income is so insolvent that, really, they are a hopeless case from a short-term perspective of “get out of debt.” In order to survive comfortably enough to even be a productive citizen, they have to accept that they start out as virtual slaves. Someone else has a claim on EVERYTHING they earn, for years or even decades to come, and this claim can’t simply be wiped out in bankruptcy.

    What I have started to do with my clients is emphasize an understanding of the garnishment and attachment exemptions, especially the residential real estate exemptions and the exemptions for certain financial accounts. But that is just with my clients. The vast, vast majority of Americans have no idea of the real difference between, say, a Roth IRA and a savings account, or between a home equity loan and a credit card.

    The true difference is this: If you lose your job and become disabled, a Roth IRA is yours to keep. Your creditors can’t touch it. Not even your student loan lenders. A savings account can be frozen and seized. Likewise, if you are disabled, a home equity line will be paid back in full out of the value of your home, whereas a credit card lender cannot attach your social security or other disability payments.

    When individuals are saddled with a decade or more of debt repayment, organizing where they put their earnings is critical to leading a meaningful life. Are you working just to pay off your student loans? Or are you building a nest-egg for your future, and only paying the student loans the minimum you have to?

    Anyway, I’m not trying to hawk my own services, or anything. I just like this blog and thought it was worth suggesting that the focus of those helping the indebted turn more toward asset protection rather than simply focus on dealing with debt. The truth is, many many Americans today are doomed to die as debtors, no matter what we do. I see senior citizens with six figures of student loan debt these days. If we deal with that reality, it is possible to carve out a better life than if we think our job is to pay it all off, no matter what, before we die.

  9. Hello all, I’m entering this information because I am at my wit’s end with my financial issue. I am an active duty service member. After the past several years of deployments, starting at the height of the subprime mortgage crisis, we have been through hell with our property. Everything from a neighborhood turning into a wasteland because of everyone walking away from their bad investments, to wasting our money on lawyers and loan mitigators, to our home eventually being foreclosed upon and somehow resulting in a debt collector, Specialized Loan Services, attempting to collect a large sum of money from us.

    In short, we began with Countrywide, ended up with Bank of America, and now Specialized Loan Services (although according to real estate records our home has been foreclosed). Our problems started in 2008 during a deployment. We walked away in 2009 due to a significant increase in crime occurring in a once respectable condominium community (and a 60% drop in value of our property), and rented a house in a safe successful neighborhood about an hour away. There was no way I’d leave my wife and daughter in such a place, while being deployed again. We learned our property was foreclosed around 2012, and are still being hounded by the debt. I haven’t had time to tend to this problem until now.

    Not sure how else to phrase this, but we need help and we’d like to learn how to get ourselves out of this mess. Specialized Loan Services DOES NOT deserve our money, nor do we deserve to have our financial credibility and future held ransom for this. Thanks!

  10. hi.

    my father had personal loan and a credit card in emirates NBD with total amount of 92000 dhrms as he lost the job he returned to india without informing the bank. Now the bank manger and personals are calling him to make the payments but he is unable to pay the amount he neither have any job back home.What if the payment is not done?will the bank is able take any serious action back in our home country.I request u to answer my question as soon as possible..

    Thanking u in advance.

  11. I am currently paying $42,000 in student loans on the standard repayment plan. My monthly payment is more than a vehicle payment and I am drowning under the financial strain. What are my options? There are 13 different loans listed under my name with varying interest rates! This is not what I thought I was getting.

  12. I am currently paying on $42,000 of student loans and I am trying to sort out my options. I am not clear on how my loans are grouped and how the interest rates can vary so much. 13 different loans. My monthly payment is more than a vehicle payment! I am on the standard repayment plan. I am drowning with this debt.

  13. I have a student loan from way back in like 1987 or 1988 that started out at like $3500 to $5000 not exactly sure how much. It got consolidated & I really tried to pay it off when I could. Life happened, way too long story. I was in a car accident in 2005 & haven’t worked since. Can’t get disability cause I can’t afford to go to the doctor to get documented papers to get loans wiped off. My loans have been sold to so many companies over the years & I recently got a letter from a collection agency stating I know owe just below $25K on this loan. There is no way I can ever pay this. It doesn’t seem to effect me as far as renting apartments, getting cellphone services, cable, etc. Is there any solution as to what I can do to make this go away? If they didn’t charge so much interest & I owed maybe a max of say $7K, I can work someway to pay that but I refuse to pay almost $25K & I never even got to finish school to get my degree.

  14. I have a debt from 1 bank and now I have 3 different collection coming after me all with the same account number and price except they all have different last letters after the – on the accounts. I contacted all 3 and its from the same bank. What could I do to fix this problem.

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