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
Question: Dear Steve, My ex and I took out a HELOC before the divorce. She quit claimed the home to me. I recently settled w HELOC, and the balance of the debt was forgiven. My ex and I both received 1099-c forms. My debt was discharged through a chapter 7 bankruptcy. My ex never claimed … Read more
Question: Dear Steve, DIRECT BUY Just added a collection to my credit report on 12/2019 pulling my score down significantly. In divorce I proved my ex husband was responsible for this debt and he agreed in writing as he wanted to keep the account for his contracting business although account was in both our names. … Read more
Question: Dear Steve, I was stuck with the credit card debt after my divorce and had a bad year. I’m drowning in credit card debt $10,000 plus I have my teenager (full time local college student living with me – EMT) I work full time and part time. Monica Answer: Dear Monica, This situation is … Read more
Question: Dear Steve, I have suffered through court proceedings for the past ten years with my ex. Divorce finalized In 2011, and I ended up filing for bankruptcy due to owing $40,000 in debt for attorneys. He continues to take me to court pro se (as you can’t keep somebody from filing petitions against you … Read more
Question: Dear Steve, I have a client who divorced. He received a letter from the IRS stating he owes taxes on $19000 of canceled debt. He didn’t receive a 1099-C. In the divorce he was required to pay 75% of debts, she 25%. The full debt was around $25000 for a car, held in both … Read more
Question: HELP!! I am currently about $400,000 in debt with student loans. Let me start at the beginning. My federal student loan debt was used to acquire my undergraduate degree while staying at home and raising my new born son. I’m fine with this. Apx $100,000. I married shortly after that and my husband decided … Read more
Question: Dear Steve, My children’s Deadbeat Dad was $27,000 in debt with two college degrees, then got in trouble with the law, and continued to work part-time in construction while our family accumulated further debt. We’ve been separated (not legally) for nearly five years, and while I have supported our two children, he moved in … Read more
Question: Dear Steve, My father and mother divorced when I was 4 and he agreed in the divorce decree to pay for my college expenses. I have about $40,000 student loan debt from private Wells Fargo loans – 4 separate loans. He manipulated me to sign an agreement when I was under distress after he … Read more
Question: Dear Steve, My husband’s ex-wife incurred a hospital bill for a broken leg prior to their divorce. she was not covered under a health plan at that time, so she was responsible for the entire hospital bill. As part of their divorce agreement, which was signed by the Judge, the hospital debt was assigned … Read more
Question: Dear Steve, My ex husband died, suicide. We have been divorced 7 years. We had no outstanding credit card debt when divorced. There is an attorney handling his estate and I was contacted and told that there are 2 credit cards that still have my name on them and there is now a balance … Read more
Question: Dear Steve, I have a couple of strikes against me. First strike is that I have an ex-husband who sticks me with medical bills and our 3 children’s extra curricular activities. All are under ages 15. The 2nd is that I am a poor money manager. Before I knew it I was over my … Read more
Question: Dear Steve, Went through a divorce in 2013 and lost my job. I could not pay the house payments, 1st and 2nd, or my credit cards. I have since restructured my 1st mortgage and saved my home, but have not made a payment on the 2nd, or my credit cards for several months (18). … Read more
Question: Dear Steve, We divorced 3 years ago and split our credit cards – at the time of the divorce one credit card was 4300 – which my ex wife took – she never removed my name – now it’s at 10,000+ and the credit card company is going after both of us – my … Read more
Question: Dear Steve, My husband and I are trying to buy a house and his credit report shows a default from his ex-wife’s mortgage she defaulted on. The divorce decree said she got the house and they had him sign a gift affidavit to her. Dumb! I know. We think she defaulted about 2009? How … Read more