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I’m Struggling on Disability Income. Is American Consumer Credit Counseling Reputable?

Question: Dear Steve, I’m living on permanent disability and dealing with credit card minimum payments that are eating most of my monthly income. I have been told that ACCC American Consumer Credit Counseling (the nonprofit organization) is great at reducing interest rates and monthly payments by 50%. Is this true? Are they reputable? What could …

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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 …

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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 …

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Is GreenPath a Reputable Counseling Service?

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Question: Dear Steve, A friend of mine is wondering if Greenpath is reputable. Is Greenpath a reputable credit counseling service? Traci Answer: Dear Traci, These kinds of questions are as tough to answer as those that ask if some company is a scam. People have their own definitions of words like reputable or scam. I …

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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 …

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