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Ask The Get Out of Debt Experts

I Want to Buy a Motorcycle to Get Around But I Don’t Have the Money. – Loraine

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“Dear Steve, Got about 10k in debt, and they’re all in collections, but I recently got a decent job. Now I’m starting from square one and i want to see if I can finally become debt free. But I don’t really know where to start. I have lost my mode of transportation and I really really need to get something ... Read More »

    The Debt Answer and Lloyd Ward & Associates, What Should I Do Now?

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    “Dear Steve, I have been reading up about this co on your site, along with Lloyd Ward and previously Simon and Bosch and realize that my 2 year stint to date (out of 4) of paying them $423.06 a month is probably a scam. I was only researching b/c I feel I cannot make any more payments and must go ... Read More »

      I Dropped Out of College to Care for My Aunt With Alzheimer’s

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      “Dear Steve, I was 1 year from my degree, when I dropped out to take care of a non-invalid , Alzheimers’ 93 yr. old Aunt. That was in 2008, at which time I was told she was on Hospice and only had 3 months left to live. Auntie passed away in March of this year. For the past 4 yrs. ... Read More »

        Can My Credit Union Repossess My Car If I’m Late On Another Loan? – Colette

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        “Dear Steve, I have a personal loan ( which is 3 months past due) and an auto loan , which is current, with the same credit union. Thay are now saying that the personal (signature) loan is cross-collateralized, and the want to repossess the car. I don’t remember agreeing to cross-collateralization – the loan was made in New York State, ... Read More »

          American Express Won’t Let Us Continue Our Payment Plan We Established. – Kim

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          “Dear Steve, We racked up $25,000 in debt to American Express on just one card and paid it down to $19,000 before being unable to make the $483 minimum payment each month. This was primarly due to daycare costs after having our first child. Daycare costs between $200 and $165 a week here is Gainesville, FL. We were sent straight ... Read More »

            Sallie Mae is Threatening to Garnish My SSDI Income. – Trudy

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            “Dear Steve, A few years ago I co-signed two private student loans for my son through Sallie Mae. I am disabled and receiving SSDI. My son has now defaulted on the loans and Sallie Mae is demanding payment from me. The loan is now with a collector who is threatening judgement. I live in the state of Hawaii. My son ... Read More »

              My Car Was Repossessed. Do I Have to Pay The Entire Loan Back? – Barbara

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              “Dear Steve, My car was repossessed and the lender told me I will need to pay the entire sale price plus fees occurred and my pass due fees. I live in Georgia and I need to know is he correct for doing this and giving me only 10 days to come up with $4000 instead of $600 Barbara” The Answer ... Read More »

                Is It Illegal for a Creditor and Collector to Report The Same Account? – Josh

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                “Dear Steve, Is it illegal for both a creditor and a collector to report the exact same account? I have several old credit cards that show charged off and then a duplicate of that account by a collection agency. Isn’t that double and even triple punishment for the same account? My credit score goes lower whenever the same account is ... Read More »

                  I’m Ready to Settle My Debt in Dubai. I Live in India. – Niki

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                  “Dear Steve, i used to live and work in dubai. In 2009 after the market crashed, i had lost my job and had to come back to india. In dubai i had credit cards from different banks. Few cards i had used in dubai and after coming back to india my financial situation was not good. So i had used ... Read More »

                    Is Bankruptcy the Best Option for Us in the UK? – Hayley

                    “Dear Jon, Both me and my husband have always worked full time, we have three children and a house brought in 1999. In 2004 out financial situation changed which meant we could no longer afford to continue paying all of our loans/debts. We got into financial difficulty and had to stop paying some bill/debts in order to live. We have ... Read More »

                      Can a Creditor Sell My Debt They Can’t Validate?

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                      “Dear Steve, Last month I received a letter from a 3rd party collector saying I owed $786.00 on a cell phone account. So I practiced my rights and sent them a letter requesting full validation of the debt. It has been almost 40 days and I never received any letter or documents back showing they owned the debt, could collect ... Read More »

                        I’m Living in the U.S. But Can’t Afford My UK Student Loans Anymore

                        “Dear Jon, Im a UK national living in the US for 9 years. I have a UK student loan which I have been paying for many years. I’m a UK national but have been living and working in the US for about 9 years. I’ve been doing my best to pay my UK student loans over the years but like ... Read More »

                          Can I Send a Token Amount to the Debt Collector And Stop Them?

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                          “Dear Steve, I was recently laid off. At the time I was halfway finished with paying off a $6,000 collection loan. I am allowing them to wthdraw $250 bi-monthly from my checking acct. at this point w/ my unemployment I no longer have that amount available. Should I close my acct? Is there a legal minimum amount I can pay ... Read More »

                            Is There UK Legislation That Would Wipe Out My Debts If I Have A Serious Mental Health Disorder?

                            “Dear Jon, I have had bi polar disorder since the age of 14. Through manic and down stages and also mixed affective states i have got myself terribally into debt. Most debts i cant even remember. I am now 30yrs old and am wondering whether under the mental health act or some other legislation i could fully get my debts ... Read More »

                              Can I Include Rent Arrears In My UK Bankruptcy?

                              “Dear Jon, I am thinking about going bankrupt as I have been made redundant and I am only receiving a few hundred quid in redundancy money and owe thousands in credit cards, an overdraft (which I have been living off of) and a car on HP. I also owe my landlord rent arrears which I cannot pay. What I want ... Read More »

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