This category is for questions readers have asked our experts directly for advice and guidance on how to deal with their debt situation.
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There are legitimate ways to stop payday loans and cancel or pay less, depending on your specific situation. Here are some options to consider: Negotiate with the lender: You can try to negotiate with the lender to work out a payment plan that is more manageable for you. Explain your financial situation and offer to …
What happened: House Republicans passed a resolution to terminate President Biden’s policy to cancel student loan debt for millions of borrowers. Who supported it: The resolution was supported by every Republican on the House Education and the Workforce Committee and introduced by Rep. Bob Good, R-Va. What the program entails: Biden’s program would cancel up …
Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of an Indictment in Manhattan federal court charging ANDRIS PUKKE with wire fraud and with engaging …
Federal student-loan borrowers are disappointed by federal court decisions that have stopped President Biden’s student-loan forgiveness scheme. Advocacy groups are arguing that Biden should extend the pause on student-loan repayments until after the legal challenges to his loan-forgiveness plan are resolved. College borrowers are currently expected to resume monthly loan payments in January 2023. By that time, …
Question: My wife and I are US citizens, 78 yrs old, on social security in Alaska, and owe $15,000 USD on a VISA card. We have no other debts and no assets in our name. The cost of living is now overwhelming. I want to remove this debt Can I copyright my name and use …
Question: Dear Steve, I have an outstanding $33K balance on a BoA credit card. It is at 0% until April 2023. I was the victim of a scam and got cash advances to invest in a false venture. If I pay the minimum each month, it will take many years to pay this off. Since …
Question: Dear Steve, I signed up for debt reduction management counseling and enrolled in a program with DRS Money Fit. I’ll be paying them a monthly amount, which will go towards my balance with a few payday lenders with whom they have existing relationships. Is DRS Money Fit credible or a scam? Tarik Answer: Dear …
Question: Dear Steve, $568,000 in student loan debt between undergraduate and medical school. I went to St George’s University a massive for-profit medical school in Grenada. The education was fine, but the cost of attending was extremely misleading, and I was told I could do my clinicals in Connecticut (my home state), which would have …
Question: Dear Steve, I don’t believe this is a relative of mine. I think this is a SCAM. Patrick Answer: Dear Patrick, It is a scam. Recently you sent me a question about a payday loan collection attempt that was also a scam. Clearly, you’ve made a list of targets to try and scam. A …
Question: Dear Steve, I am on SSD because I have Liver Cancer, Degenerative Spine Disease, Fibromyalgia, Narcolepsy, Asthma, PTSD, ASD, and Depression. A couple of years ago, I got an offer from Discover in the mail for a credit card. I got this bright idea that I could buy some things and fix up my …
