Question: Dear Steve, I am a power of attorney for my mom, who has dementia. She owns her home outright, but my 58-year-old sister lives with her and takes care of her 24/7 as she cannot be left alone anymore. As a result, my sister has no income. They live off my mom’s two pensions … Read more
Question: Dear Steve, I incurred a credit card debt of about $9,000, and I stopped making payments on this card. I signed up with a large debt consolidation company and made monthly payments of $250 toward my escrow account. My credit keeps getting hit every month because the debt consolidation company and the credit card … Read more
Question: Dear Steve, Hi Steve, I am $15,000 in credit card debt and have $4,000 in a student loan at 6.8%. I am interested in a fast payoff of debt. My current cards are at 25%-30%. I was wondering what my best option at this point is? I was wondering what is my best option … Read more
Question: Dear Steve, I have been talking to Damon Day…great guy, by the way….about my debt situation. I have about $55000 in unsecured personal loan/credit card debt. He said not to go with any negotiation companies but that my goal should be to try to file Chapter 7. But between my husband’s income and my … Read more
Question: Dear Steve, My fiance is a 100 percent disabled veteran with a lot of debt truck, house, four-wheeler, the lawnmower. He wants a new hot tub, to fix the driveway, and much more. I’m concerned for him and us as a couple. How can we ever dig out? Pam Answer: Dear Pam, It’s interesting … Read more
Question: Dear Steve, I am trying to pay off my credit card debt without resorting to a debt consolidation company due to all the ones I talk to does not offer just a loan but want to put me on some type of payment plan where I pay so much into my account while they … Read more
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 … Read more
Question: Dear Steve, I have many questions. I have about 17k in credit cards and 6 in an air conditioning unit that I had to have installed that I could pay cash for. Recently was contacted by Financial Solutions and was offered an outstanding deal to cut my cost down to 426 a month for … Read more
Question: Dear Michael, I have ~$110k in unpaid credit card debts with various creditors. It’s been ~250 days since I made my last payment. My goal is to settle these debts. I’ve been living and working abroad in a South American country for the past year, and expect to continue living abroad for the next … Read more
Question: Dear Steve, In 2015 and 2016 both my wife and I got in a bunch of debt. Between us about $10,000 in various credit card company debt, $2000 in medical and then the whopper, about $15,000 in online installment and payday loans at over 100% interest. I just found out I have a judgment … Read more
Question: Dear Steve, I am 47 yrs old. I had an excellent 30-year credit report with the only ding a short sale of my home during the 2009 recession. My dad got cancer and I took time off work to help him. My debt to income ratio not working made me unlendable. I have around … Read more
Question: Dear Steve, My husband hasn’t had an income since 2012. We have 450k left on the mortgage, owe around 75k on credit cards, two car payments, installment loan with IRS for 40k, Paying 1k interest monthly on 250k HELOC since 2006. He emptied his 401k-no retirement left. I work for US govt, earn 112k, … Read more
Question: Dear Steve, I earned a pretty good living in the healthcare field and was paying my debt, saving and investing well until a family illness struck last July. My Mom was hospitalized and sent to hospice due to heart failure. I took time off work to be the primary caregiver to care for my … Read more
Question: Dear Steve, I owe 46,000 on 3 credit cards, with a monthly combined payment of 930.00, and the monthly combined interest of 464.00. I get debt consolidation offers in the mail which I have thought of using, but I am not sure they are legitimate. I have thought of trying to get a second … 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