Rapid Reader Questions, Debt Consolidation, Navient, Credit Score, Fraud, and More

Q: Is it legal for a mortgage company to all of a sudden demand a deferment balance from 10 years ago now, or will they foreclose on the home I am one month behind on the monthly payment? A: That sounds a lot like a balloon mortgage (a mortgage in which a large portion of … Read more

Proposed Medical Bankruptcy Fairness Act of 2021 Will Gut Punch Credit Counseling

U.S. Senators Sheldon Whitehouse (D-RI), Sherrod Brown (D-OH), Elizabeth Warren (D-MA),Tammy Baldwin (D-WI), and Richard Blumenthal (D-CT) are introducing The Medical Bankruptcy Fairness Act of 2021 to help consumers. Who knows if it will pass but one part of the bill takes direct aim at the debt relief industry. Introduced nearly 15-years ago where the … Read more

I’m Here on a Green Card and Need to Consolidate My Credit Card Debt

Question: Dear Steve, I came into this country as an international student for the purpose of attending college. I did not have a job and I couldn’t work legally because of my status. I did odds and ends jobs to survive because I had tuition to pay and also I was living alone as I … Read more

Credit Counselors Offer Important Financial Must-Dos Before 2017

While 2017 is quickly approaching, it is important that consumers take a minute and review their current finances and consider their goals for the New Year. Although 2016 is coming to a close, it is not too late to tie up loose ends and achieve end of the year financial goals. To help with this … Read more

Should My Son Consider Credit Counseling or Bankruptcy? – Carla

Question: Dear Steve, My son and his wife are struggling with credit card and other unsecured debt. They are still able to pay all the bills each month, but are only paying minimum payments. They have about $20,000 in debt. My son had already filed bankruptcy once, back in 2002, I believe. He was not … Read more

I’m Worried My Account Was Transferred to Christian Credit Counselors

Question: Dear Steve, Credit counseling service account being moved to another. Here is the email I just received. “Dear JONATHAN , As a valued client of Credit Counselors Corp, we are writing to inform you that as of today, your account with us has been transferred to Christian Credit Counselors, a nonprofit 501(c)(3) credit counseling … Read more

Should I Settle My Debt or Work With a Debt Management Firm to Pay My Debt?

Question: Dear Steve, I was laid off & late in my pregnancy when my job closed. I was on disability then when I finally went back to work I fell and went back on disability, over 7 months behind of my bills. Is it better to settle my debt on my own or should I … Read more

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

“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 … Read more

Can I Ditch Golden State Debt Management and Save Money? – Art

“Dear Steve, I am using the Consumer Credit Counseling program with Golden State Debt Management. It involves me allowing them to deduct $625 per month from my checking account. In total, they keep about $125 in fees each month. High. But even including those fees, I’m still saving $90 / month versus the astronomical interest … Read more

Clear One Advantage and ACCC Both Say They Can Help Us With Our Debt. – Ty

“Dear Steve, My wife and I have a combined debt of 75,000.00. A large part of this is due to using credit cards when I was out of work for a year and a half. This was 4 yrs ago. We are current on all of our debt but find that we are just getting … Read more