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Bankruptcy Related

We Were Told Bankruptcy is the Best Option for Us

Blue Sky

Question: Dear Steve, We are in about 90 thousand in debt I am 59 my husband 67 he is on SSI and VA income I am the only one working. I been told that bankruptcy is the best for us what do you think. We have a home homesteaded in Florida and one vehicle financed. maybe about 6-7 thousand in ... Read More »

    Did My Bankruptcy Attorney Make a Mistake by Not Getting My Student Loans Discharged?

    Businessman trying to solve a maze questions

    Question: Dear Steve, I was laid off 11/3/2008 with 2 kids in college and the sole financial provider for 3 kids and my wife. I paid every bill on time through June of 2011 despite being out of work the 1st time for 17 months. I filed chapter 7 in July of 2011. I survived by using my retirement accounts ... Read More »

      I’m 59 and Drained My IRA. What Should I Do About My Debt?

      Old man with headache.

      Question: Dear Steve, I was forced to give up my private practice several years ago and unable to find work until recently, partly due to medical reasons. I am now working but spent my entire IRA – early withdrawal, and racked up 50k in credit card debt. My salary is way over the Ch. 7 threshold but I can’t survive ... Read More »

        My Dad Stuck My Mom With All the Debt

        Cartoon-OUCH. Vector

        Question: Dear Steve, My Dad was very abusive towards Mom. He used to force her to go get car loans, on cars that he couldn’t afford, then they’d get repossessed. When they got repossessed he’d get another car in her name. The cars were all in her name. Now he’s been gone for 6 years and creditors are taking her ... Read More »

          My Business Failed and I’m a Disabled Veteran

          121112-N-LP801-092

          Question: Dear Steve, We bought an existing business – a gym- with an SBA loan. Even though we grew the membership from 80 to 430 within 2 years, the overhead and servicing the loans were crushing us. Enter the $10 per month gym chains and we had no other option than to sell the gym for a fraction of what ... Read More »

            We Are in Our 70s, in Debt, and Out of Money. What Can We Do? – Gwen

            Performance transparency seems to be hidden or missing.

            Question: Dear Steve, My husband and I are both in our 70’s. He’s 79 soon to be 80 and I’m 76 soon to be 77. We have gotten ourselves into a lot of debt. ($50,000) We started our retirement with a total of $400,000. Through bad advice and my husband not paying any attention what to was happening with his ... Read More »

              My Bank Won’t Work With Me So I Can Pay My Debt

              Inside view of an antique combination lock of bank Mandiri in Jakarta, Indonesia

              Question: Dear Steve, The bank called me and told me that I must pay 12600 first before I can apply for account restructuring with an interest rate of 1%. I was not able to pay it as of now because I am jobless. What should I do or how should I respond to the threats of a law firm that ... Read More »

                Our Financial Situation is So Bad I Don’t Know What to Do. – Kay

                Businesswoman does the questions

                Question: Dear Steve, DEBT- Husband went from 280,000 to 100,000 income and we have an adult daughter that has drained our savings and retirement with substance abuse. Behind on everything- Mortgage 11 months just worked out payment structure ok there- fed taxes 117,000 had installments until this year waiting on verdict. 180,000 in student debt and 80,000 in credit card ... Read More »

                  I Heard if I Make Token Payments I Can’t Be Sued. Is That True? – Oliver

                  The Chevy Spark I drove recently.

                  Question: Dear Steve, I started a collision repair business in 2011 and it started off well but it started dying out slowly but surly, the area kept getting worse and worse not to mention my rent was $2500 per month not including all of my other bills. So the scary part came when I had to make the decision to ... 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 »

                      My Life is Hopeless. I Can’t Pay My Bills. What Can I Do?

                      Avoid Bankruptcy Monster

                      Question: I Can’t Pay My Bills. What Can I Do? Dear Steve, I’m so completely freaked out about my bills. I’m now so in debt and worried about it I can’t sleep, I’m depressed, and all my wife and I do is fight about money. I’m constantly telling my kids they can’t participate in any school events because I can’t ... Read More »

                        Is There Any Hope for My Son to Bankrupt His Private Student Loans?

                        Decision time

                        “Dear Steve, My son has about 150,000 in private student loan debt. Which I feel is my fault as I filled out the paperwork and told him never to worry we would work it out and then the 2008 collapse. Could you recommend the best course of action for dealing with these. Filling for bankruptcy with an attorney or on ... Read More »

                          I Filed Bankruptcy. What Should My Credit Report Look Like?

                          credit good

                          “Dear Steve, I filed chapter 7 bankruptcy in October 2009 and the disposition date was March 2010. I am currently reviewing my credit report, as a means of disputing any inaccuracies found on the report. Issue 1: On credit report A under public record it states that I have a $0 claim amount and a $0 liability amount. On report ... Read More »

                            My Elderly Mother is Struggling in Credit Counseling. What About Bankruptcy? – Tracey

                            Sad Elderly Lady

                            “Dear Steve, My mother is 77 years of age. Her memory is no longer the best for her finances and she gets confused as to who gets paid what and how much. the debts, even though she doesn’t even use the cards but one walmart for groceries the interest rates and payments have gone over the roof so to speak. ... Read More »

                              I’m Disabled, Filed Bankruptcy, But Still Owe on Student Loans

                              gears

                              “Dear Steve, I was hit by a drunk driver, suffering several acute compression fractures in my neck and back, ribs, discs, etc…and was wheel chair bound. Fortunately, I recovered well, and am more functional than any of treating physicians expected. I was attending the University of Davis, California at the time ( 1991 ) when accident happened. When I was ... Read More »

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