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Debt isn’t just numbers on a screen. It’s stress, sleepless nights, shame, and self-doubt. When you’re in debt, it’s easy to feel like you’ve failed. Maybe you made bad financial choices, or maybe life threw unexpected hardships your way. Either way, the emotional toll of debt can be crushing—and it’s rarely talked about enough. I …
Question: Dear Steve, I maxed out my credit cards during covid/the last two years. I want to enter into the financial hardship program for my highest card, but they close my account at the end of the program. Will this hurt my credit more than it’s currently being damaged from being at my total limit …
Question: Dear Steve, HOLY CRAP! As I usually do, I am reading your commentary, and some things are jumping at me. I am thinking, “Gee, this guy has some of the same problems I have! That’s weird. As I go on, more and more of this sounds awfully familiar. Then it dawns on me…SHIT! THIS …
Question: Dear Steve, Over the last year – two years, I have found myself to be in a huge debt hole. I can’t even say exactly how I got here or why I went down the path that I did. Since 2014, we have slowly maxed out our credit cards, and then in late 2019 …
Question: Dear Steve, Hello, and I want to say thank you for helping us. Here it is in a nutshell: I’m a 75-year-old woman. My husband is 72. We met late in life, and we have no children. We have an apartment in a rent-control property, and we own a property that gives us a …
Question: Dear Steve, I am a 22-year-old college graduate. I grew up in a very stable household, both personally and financially. My parents do exceedingly well, and I have never once struggled.. until now. I always saw how my parents spent money and thought I could do the same. I didn’t have a complete understanding …
Question: Dear Steve, I may have been involved in a debt validation program. How do I find out which escrow account my money is being deposited into so that I can attempt to get a refund? Michelle Answer: Dear Michelle, Oh my. There are a few levels to this. The first concern is why it …
Question: Dear Steve, Is it wise to pay off smaller balances first or work hard on the higher ones with the out of control interest? Lainey Answer: Dear Lainey, This is one of those great questions that seem so simple to begin with. At first glance, the obvious answer would be to reduce the amount …
Question: Dear Steve, ~$60k credit card debt with BofA 700 credit score Never been late on any payments of anything What options do I have to negotiate credit card debt right now. I was told that I could get BofA to go down to 1% APR on my remaining balances. As long as all of …
Question: Dear Steve, After spending much of 2018 and 2019 surviving on part time freelancing, I racked up ~$8k in credit card debt across 3 cards and exhausted my savings. I also have a personal loan balance at ~$6.5k. In fall this year I returned to full time employment at ~$85k a year. Just got …