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Ask The Get Out of Debt Experts

I’m About to Lose Everything. Help!

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Question: Dear Steve, I have been trying to get a loan to pay off my credit card debt. I am unable to do so as my credit score is to low. I have been checking into debt management but I don’t know what I am doing and I am scared of all of them. I truly need help as I ... Read More »

    Should We Take Money Out of Retirement to Pay Off Mortgage?

    Savings-Account

    Question: Dear Steve, I am 63 years old. Retired. 401 $300,000 + plus pension & SS. Wife 62 retired drawing SS small 401 $45,000. We are retired and need to have more disposable income. We only owe $17,000 on our house with an interest rate of 5 3/4. If I took out money from 401 to pay off house we ... Read More »

      Why Can’t I Put My Parent PLUS Loan in an Income Based Repayment Program?

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      Question: Dear Steve, I have significant student loan debt and applied for IBR and was denied, due to there being a PLUS (parent) loan in my record. I did not participate in anyway in the creation of any PLUS loan. My suspicion is that it was created fraudulently using my identifying information from when I co-signed on a loan for ... Read More »

        Your Advice to the Medicaid Mother and Her Daughter Was Terrible

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        Question: Dear Steve, Just read your article on HuffPost. I would never take advice from you or at least advice you gave this girl. As you said, BA cannot attach SS benefits/Medicaid. If mother has no other assets & gets no other income, she needs to write to BA & let them know she cannot repay this debt, for reasons ... Read More »

          My Mother is on Medicaid and Bank of America is Owed Money

          Sad Elderly Lady

          Question: Dear Steve, Hi – I have a question – my mother is in a nursing home, Medicaid pays for the home – she must turn over her social security and small pension to them each month. She has no money – she has a credit card from Bank of America with $3500-$4000 on it – she is the only ... Read More »

            My Islamic Faith Prevents Me From Paying Interest on My Student Loans

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            Question: Dear Steve, I had two citi-student loans and at some point in time within the last 5 years they went to Navient (Sallie Mae) I recently called to ask if I could get a lower pay-off amount as the original loans were 32K and now they are up to about 64K because of deferment and interest. They said no ... Read More »

              How Did Bilkish Associate’s Find Me in Pakistan?

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              “Dear Jon, I was residing and working in Saudi Arabia from 2004 – 2010 and once I went on Final Exit from Saudi Arabia to my home country (Pakistan) I have few liabilities of Saudi British Bank of almost 4000 Saudi Riyal (1000 US$) In 2013 I came to Saudi Arabia again on a new visa to start a job ... Read More »

                Can We Settle a Debt With a Collector to Get College Transcript?

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                Question: Dear Steve, My husband and I just met his adult daughter 2 years ago. He had signed away his parental rights when she was an infant 30 years ago. We have learned that she has student debt and want to pay it. The first debt is with the college she attended in Birmingham and is the one we’re focused ... Read More »

                  Who is Right About Budgeting Our Money, My Wife or Myself?

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                  Question: Yo Steve, My wife and I fight, or shall I say disagree, all the time about spending and a budget. She has one opinion and I have another. She says we should not spend more than 25% of our income on housing but I say 33% is alright. Who is right? Jimmy Answer: Yo right back at you Jimmy. ... Read More »

                    Why Have My Private Student Lenders Not Sued Me Yet?

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                    “Dear Steve, I went to a public school and obtained 2 degrees. A good portion of my student loan debt were in private loans. The economy crashed in 2008 and I couldn’t find work in 2009 so I went back for more education to hide from the economic realities (I had no way to pay on the loans). Sallie Mae ... Read More »

                      Where Can We Get a Lower Federal Student Loan Interest Rate?

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                      “Dear Steve, My son is out of the country and I am paying off his loan. We are seniors. He has volunteered to pay himself. However, by the time currency exchanges have been calculated, it is cheaper for us the pay his loan. We have ‘myfedloan.org’ loans at 6.8% which I think is very high. Is there anywhere we can ... Read More »

                        How Can I Payoff Massive Parent PLUS Loans My Mom Can’t Afford?

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                        Dear Steve, My situation is similar to those asking about student loans and repayment. My Mom had to take out parent plus loans under her name to help me with school. We both understand the responsibilities we have. However, she can barely afford to pay for her rent and food on the money she makes. Therefore, I’m the one making ... Read More »

                          Should We File Bankruptcy Because of Business Debts?

                          Writing Q&A, Questions and Answers on a blackboard.

                          Money, Credit and Debt Advice – Get Out of Debt Guy Question: Is There Hope for Us in Bankruptcy? Dear Steve, We have roughly $80,000 in credit card debt. We have 4 children, 2 in college and 2 yet to go. We own a small business that we run out of our home in addition to my being a teacher. ... Read More »

                            How Can I Get the Debt Collector to Stop Bothering Me?

                            Debtstar

                            Question: Dear Steve, I’m getting really tired of being hassled for an old debt I don’t owe. I keep trying to explain to the debt collectors that I don’t owe the bill they keep trying to say I need to pay. What can I do? Mary Answer: Dear Mary, Being chased for a debt you don’t owe is not fun. ... Read More »

                              The Hospital Turned Me Over to Collections. Can They Do That?

                              debt1

                              I recently had procedure at hospital. Insurance paid their part. I have my part to three different people. I tried making arrangements with hospital of $100/month – they said that’s not enough for it to be paid in 6 months. I said what’s the deal with 6 months? She replied that if I don’t have them paid in full in ... Read More »

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