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Ask The Get Out of Debt Experts

What Can I Do to Get My Federal Student Loan Out of Default? – Ian

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“Dear Steve, I have a federal student loan which has been in default for well over a year. The debt collection agency is calling and threatening to garnish my wages; I obviously do not want this to happen. I would like to get my loan out of default so I can take advantage of all the repayment options available to ... Read More »

    How Can I Pay Off My Debt and Increase My Savings. – Aimee

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    “Dear Steve, I have approximately $8,700.00 in credit card debt, and very little (approximately $300.00) in savings. I take home just about $1,500.00 per month. My usual monthly bills total about $520.00 per month (I don’t have rent currently.) I budget approximately $400.00 per month for basic variable expenses – like food and gas. That leaves $580.00 per month to ... Read More »

      I Already Have Bipolar and Clinical Depression Disorders With Panic Attacks and Now Debt. – Kilandra

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      “Dear Steve, Credit card debt after being divorced, unable to work, no income, but paying the minimum on it. I need out, it’s stressing me too much and hurting my health more, when I already have bipolar and clinical depression disorders. I used the sale of my car to pay off the one, but I am still $7000 in debt. ... Read More »

        I’ve Liquidated My Savings, Checks and CDs But I’m Still in Debt. – Jennifer

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        “Dear Steve, I currently have liquidated all my assets (savings, checking, CD’s) and have not tapped into my 401(k) yet. I am newly employed at a school district and make $32,275/year. I am now living paycheck to paycheck. My current debt is car loan of $10,943 at an interest rate of 5.5% and monthly payment of $552 – I am ... Read More »

          I’m Not Good at Managing My Money. – Eletha

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          Eletha “Dear Steve, I make over $100,000.00 a year and I don’t know where my money is going. I have all my credit cards maxed out and I am living from pay check to pay check. Please help! My credit cards have high interest rates and I have asked them to lower but their answer is no. I pay over ... Read More »

            I’m Anxious to Refinance My House to Pay Off Debt If It Lowers My Payment. – George

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            “Dear Steve, Hi Steve, I have a $115K 30 yr mortgage at 5.25% and now have 20 yrs left. I also have almost $20K in credit card debt (13.5%) which is a minimum monthly payment of over $400, of which I usually pay more. This is killing me. I really want to get rid of this cc debt. I barely ... Read More »

              My Debt is Making Me Depressed and Suicidal – Tim

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              “Dear Steve, I, we are very close to your situation, after over a year of unemployment, my wife working for pennies at a christian school and me – the bread winner, an IT system admin, 3 degrees two in engineering and one in IT, we finally had to contact an attorney today because the creditors would not work with us ... Read More »

                Can I Be Removed as an Authorized User on My Wife’s Credit Cards? – Chris

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                “Dear Steve, I’m an authorized user on my wife’s cards and they have high balances. If I take myself off as an authorized user, which I have, will these accounts fall off my credit scores? I’m considering putting her accounts in a debt settlement and not mine. Therefore taking the hit on one credit score in the family, not both. ... Read More »

                  Should I Pay My Old Debt in Full? – Robert

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                  “Dear Steve, I received an offer from a collection agency for an old debt. The collection agency offered 4 options. To pay $10 a month until the debt is settled. The other three options are to settle for less then the amount owed, but I am worried this will have a negative impact on my credit more then it already ... Read More »

                    Should We Sell The House And Pay Off the Credit Cards? – Yvonne

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                    Yvonne “Dear Steve, We own a house which we want to sell and move elsewhere. We have probably $120,000 equity in the house. We owe one year’s lease payments on a work van at $700/mo. and then owing $18,000 at end of term. We owe $40,000 in credit card debt. I keep switching cards to save on interest. My husband ... Read More »

                      What Can My 87 Year Old Mother Do About Her Debt? – Nancy

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                      “Dear Steve, My mom is 87 and up until this year had a credit score of 750. she has about 10,000 in credit card debt but has been paying her cards on time without a problem until this year. every card she has lowered her credit limit and has increased her interest rate which of course has put her in ... Read More »

                        How Can I Stop JD Enterprises From Suing Me? – Denise

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                        “Dear Steve, I am 52, single, have a decent paying job, but am struggling to pay my current bills. I live paycheck to paycheck. I am trying very hard to catch up and get ahead. I was contacted at my work last week by JD Enterprises about a debt from 2001. They said their process server was on his way ... Read More »

                          I Don’t Think I Can Claim Bankruptcy But I Can’t Pay My Bills. – Christine

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                          “Dear Steve, I am a 59 yr. old widow. I lost my job 2 yrs. ago and rather than doing nothing, I started a pet-sitting business. Actually, I have slowly started building this and want to continue it as I see it as a way to work when I am older. I currently live on a veteran’s pension of 670. ... Read More »

                            Unemployed, Broke, No Family, and in Debt. – Shelia

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                            “Dear Steve, I recently lost my job due to a conflict with the boss’s son. I had no chance. My claim for unemployment benefits are still pending investigation, while the bills have already spiraled out of control. I don’t even open the mail anymore, as I can’t pay 1 cent and seeing those threatening messages make me cry uncontollably. My ... Read More »

                              I’m An Attorney Making $125,000 But Stuck in Debt. – Eric

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                              “Dear Steve, I am an attorney making 125,000 per year BEFORE. Over the past several years due to the lagging economy and my wife’s medical expenses we have accumulated $150,000 in credit card debt spread over 15 (yes 15 credit cards). balances range form @$3,000 to $21,000. We have no mortgage expenses because we live with my wife’s mother and ... Read More »

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