I’m Just Recently Married and I’m Getting Letters About Old Debts. I’m Barely Getting By. – Jennifer

“Dear Steve, I went through a traumatizing divorce and got a lump sum with which I paid down all the credit cards. I had to live on them for a while. I have 2 small kids that are sick alot and one is ADD/ Dyslexic so I am not able to work a full time … Read more

Capital One Just Raised My Interest Rate by 5%. Should I Close My Account? – Lori

“Dear Steve, Capital one just raised my interest rate by 5%. I have never even been late with a payment. Should I close the account and pay off at old interest rate, or just accept the new terms? Lori” I asked my friend Susan Nilon to answer your question for you. I wanted to make … Read more

I’m Unemployed, Pregnant, and Can’t Afford to Pay Debt Collectors. – Erin

“Dear Steve, Unemployed, pregnant, and cant afford the payments demanded by the debt collectors. I am trying to make the demanded payments by the debt collectors, with out defaulting on my car payment, insurance, and medical bills. Do I have to send the collection agency the payment they are demanding, or can I send what … Read more

My Nephew Is $62,000 In Outstanding Debt, How Can We Help Him – Teresa

“Dear Steve, My nephew is 62,000 in outstanding debt all which are not in collections. We have contacted a lawyer that says he will get the amount down about 40% and then we pay them about $8000 over a period of 11 months. They want my nephew to sign something before we really know the … Read more

Should We Just See A Lawyer About Bankruptcy Before This Gets Worse? – Susan

“Dear Steve, Dear Steve, My husband’s work in construction ended last year so he made $900 and is trying to get started in a sales position that is costing some money to get started. My overtime has been cut drastically and I am now making about $61,000 a year. To keep up with bills and … Read more

I Was Thinking About Bankruptcy. Would This Have An Effect On My Loan Modification? – Tim

“Dear Steve, I have worked in auto sales for the last ten years and things have really gone down hill over the last few years. I was just let go at the begging of Feb. and have been collecting unemployment. I’m two payments behind on my mortgage and have a huge amount of credit card … Read more

We Own Two Homes. Should We Try to Get a Loan Modification Instead of Refinancing? – Esty

“Dear Steve, We own two homes. One is our permanent primary residence in TN. The other is our smaller previous residence in (here it comes…) Florida. Yes, Florida. Yay. We bought in 2005 with a 5/1 ARM. We have until May 2010 to refinance that first 5 year ARM. We have had tenants there this … Read more

My Wife Surprised Me With a $25K Credit Card Bill. – Christian

“Dear Steve, My wife has suprized me with a $25k credit card debt. she has contacted the card company to lower the interest and they say they cannot lower it. we are looking to sell our house and this debt is hurting her credit score. I want to get her on a plan with low … Read more