Some in Congress Fighting Against Student Loan Forgiveness

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The topic of student loan forgiveness has officially become a political hot potato and talking point. If we expect lawmakers in Congress to study any issue and come to an educated compromise, we are fooling ourselves. Republicans in Congress have introduced the Student Loan Accountability Act. The Student Loan Accountability Act would: prohibit the Biden … Read more

I’m Struggling on Disability Income. Is American Consumer Credit Counseling Reputable?

Question: Dear Steve, I’m living on permanent disability and dealing with credit card minimum payments that are eating most of my monthly income. I have been told that ACCC American Consumer Credit Counseling (the nonprofit organization) is great at reducing interest rates and monthly payments by 50%. Is this true? Are they reputable? What could … Read more

March 2022 Data Shows Bankruptcy Filings Continue Steady Drop

March 2022 Data Shows Bankruptcy Filings Continue Steady Drop

Bankruptcy filings continued a steep two-year-long fall that coincided with the start of the coronavirus (COVID-19). Filings fell 16.5 percent for the 12-month period ending March 31, 2022. According to statistics released by the Administrative Office of the U.S. Courts, the March 2022 annual bankruptcy filings totaled 395,373, compared with 473,349 cases in the previous … Read more

Podcast – Straight Talk About Student Loan Forgiveness if You Are in Jail

Get Out of Debt Guy Podcast

Yesterday I wrote How to Get Your Federal Student Loans Forgiven if You Go to Prison. The results of my research were so surprising I had to make this podcast as a follow-up. This is just another wrinkle in the ridiculousness created by student loans. After taking a deep dive into this subject, I’m not … Read more

How to Get Your Federal Student Loans Forgiven if You Go to Prison

I Heard My Federal Student Loans Could be Eliminated Because I Was in Prison

Question: Dear Steve, I’m in a halfway house nearing the end of my federal incarceration. I will have completed ten years and four months. I have been looking at info on having my student loans written off. I’m working on getting the information I need, but can this still work? Was I supposed to do … Read more

How Much Credit Card Debt Should I Carry to Not Harm My Credit Score?

How Much Credit Card Debt Should We Carry to Not Harm Our Credit Score

Question: Dear Steve, I have three credit card accounts, all with Citibank. Two of them are closed. The one open account has a credit limit of $1700. I am just $140 below the limit on it. The other two are at about 40% or less. I am getting dinged on my FICO score as they … Read more