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Getting Out of Debt

I Lost My Job, My Husband Died, and I’m Drowning in Debt

church

Question: Dear Steve, I am 60 years old, lost my job 1 1/2 yrs ago and subsequently started my own business. I was receiving 1/2 of my ex-husbands military pension, and paying down my debt and remodeling my home. Then the bottom fell out. My house was flooded by a faulty hot water heater and very extensive repairs needed to ... Read More »

    Teacher With Reduced Salary is Struggling With Bank of America and Chase Bank

    teacher

    “Dear Michael, Thanks so much for providing the people with this opportunity to communicate with you! I am writing to you to seek advice since I find myself in a desperate situation with credit card debt. I will be as brief a possible. I am a Biology teacher and have been a teacher for the past 17 years. My credit ... Read More »

      Is There a Debt Solution Company You Would Recommend? – Donnie

      Frustration

      Question: Dear Steve, Due to medical issues and a large percentage (25%) loss of salary my wife and I are in serious debt. We owe approximately 52,000.00 in credit card debt. I am looking at some debt solution companies at possibly helping get this debt under control and paid off in a reasonable period of time. Is there a particular ... Read More »

        How Can We Really Get Out of Debt?

        No problem

        Question: What is the Secret to Getting Out of Debt? Dear Steve, My husband and I have been limping along just breaking even for sometime now just trying to dig ourselves out of debt and save money. We’ve cut everything back to the minimum and have to constantly tell our kids to do without. I can’t even afford for them ... Read More »

          How Should My Boyfriend and I Handle Getting Out of Debt? – Marissa

          couple working

          “Dear Steve, I have $64,000 in student loan debt and my boyfriend has $10,000+ in credit card debt. I make $18,000/year less taxes and he makes $40,000/year. We want to aggressively tackle our debt. I had been deferring my loans for years (or so I thought) but now I’m facing wage garnishment. We are in our 30s with no savings ... Read More »

            Why Can’t I Just Ignore My Creditors Instead of Filing Bankruptcy? – Troy

            math

            “Dear Steve, I have 2 unsecured personal credit cards I used almost 100% for a business that went under (so I am not subject to means testing). Each one is a little under $25K. I have spoken to a BK attorney. The problem is, the only thing in my name alone is one of a cars. It’s free and clear ... Read More »

              We’d Like to Cut Up Our Credit Cards and Start Over. – Terry

              needy

              “Dear Steve, I have $38000 in credit card debt, an $18000 2nd mortgage, a $134000 mortgage and a $520 per month car payment. My wife and I bring home $85,000/year. We pay our bills on time each month but have difficulty saving with life’s unexpected expenses, ie older vehicle repairs, medical expenses, etc. I would like to cut up credit ... Read More »

                My Student Loans Are Deferred And I Can’t Pay My Other Debts. – Annie

                sad-woman

                “Dear Steve, I owe over $20k in credit cards (Discover and Visa, both of which are maxxed out) and over $40k in student loans (which are currently deferred). I changed my spending habits and budgeting over the last 6 months. Despite all of this, I am still only able to make slightly more than the min payments every month (before ... Read More »

                  Do You Do Personal Debt Counseling to Help Me Get Out of Debt? – Gayle

                  raising hand

                  “Dear Steve, It is way too long to write about but a couple bad divorces and helping my children through college then losing my own job. Long story short, want to get out of debt. Do you do personal debt counseling or help set up plans to get out of debt? What is the cost? Gayle” Dear Gayle, For many ... Read More »

                    My Parents Were Terrible at Managing Money. Now I Am as Well. – Kassandra

                    debt hole law tada

                    “Dear Steve, 25 year old newlywed with 16month old child, stay at home mom. Got a job working for a great company at 18, Whole Foods, was making okay money and living at home. Applied for credit cards at about 19 because every store and bank was offering one and I was young and dumb and was never given any ... Read More »

                      We Can Just Make Our Minimum Payments and Have Good Credit But Need Help. – Becky

                      couple working

                      “Dear Steve, My husband and I are in our late 30’s with 2 sons. We have $22k in debt, $10k personal loan and $12k credit cards. We make the minimum payments each month as that is all we can do and our credit scores are above 750. I look at all of the snowball theories and paying highest interest first ... Read More »

                        I Loaned a Credit Card to a Friend Who is Not Paying It Anymore. – Karla

                        oops

                        “Dear Steve, I loaned a credit card to a friend 8 years ago and she has been making minimum payments and using it until last year when she stopped making payments. I have been promised by her she will take care of it when her divorce is finalized and she gets a big cash settlement. Promises promises. The account is ... Read More »

                          Should I Sell My House to Get Out of Debt? – Esperanza

                          Woman in safari hat looking through binoculars

                          “Dear Jon, I am a single mother of two. I bought a house for 150,000 almost two years ago. My monthly payment is 928. I owe 27,000 in credit cards. I am making minimum payments for 600 every month. I can’t do it any longer. My credit score is over 700. I am current on my payments. I live in ... Read More »

                            New Baby, Personal Debt, Business Debt and Need a Plan to Get Out of Debt. – Matt

                            couple working

                            “Dear Steve, I have personal debt and business debt. My wife and I both have leased cars. We are 28 years old, rent a condo, and have a storage unit. We just had a baby. She makes about 45,000 p/year and I make about 25,000 p/year. (my business isn’t doing well) My credit score is around 640 and my wife’s ... Read More »

                              What is a Good Credit Counseling or Debt Settlement Company?

                              process

                              “Dear Steve, My husband and I used to have impeccable credit but now we just have to much credit. We are overextended and hardly have money left over after bills are paid. Our credit scores have suffered as a result and getting a consolidation loan might not be a viable option. We have a plan to sell our house within ... Read More »

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