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Ask The Get Out of Debt Experts

When I Was Younger I Made Some Silly Debt Mistakes. – Kristina

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Kristina “Dear Steve, To go bankrupt or not to go bankrupt when trying to get a loan for a new house asap is the question? Well to start off I’m looking for answers, answers to questions I don’t even know how to begin if that makes sense? I was a young stupid kid and decided to take everything for granted ... Read More »

    Your Searches and Speed Round Answers

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    I was looking through the recent search phrases on the site this morning and thought I’d take a whack at answering some of them quickly so I’m trying a new approach, the speed round. What happens if you do not answer a debt collectors who is an attorney? If you mean answering the phone, you just flow further down the ... Read More »

      I Want to Get Out of Debt Without Ruining Our Credit. – Melissa

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      “Dear Steve, With the economy in such turmoil, my husband who is self-employed has had close to no work for 6 months. I went back to work and that is helping, but our finanaces are a mess. We are living paycheck to paycheck and are barely able to make our monthly payments. We had already had credit card debt and ... Read More »

        I Live in Guatemala and I Can’t Pay My Credit Cards. – Jose

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        “Dear Steve, Hey, i live in Guatemala and i have a credit card with limit of 1k US dollars, i had use around $800, i have another one with limit of $500 wich has used around $300 i was paying around twice the minimum fee every month but then the construction company that i worked for had a problem with ... Read More »

          I Had a Western Michigan University Credit Card. I’m Now Getting Sued On It. – Martha

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          “Dear Steve, I am being sued by a debt collector/attorney’s office on an old WMU credit card account which was closed over 2 years ago. I’ve told them in writing that I have no income other than unemployment and no assets. My court date is scheduled end of January. This week I got a letter from them “subpeoning” me to ... Read More »

            The Car Dealership Wrote Off My Loan I’m Paying On. – Kyran

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            “Dear Steve, I had an auto loan through a buy here/pay here dealership. Paid way more for the vehicle then it was worth. With just over $6,000 to go on the loan, I noticed on my monthly credit report notifications that the dealership had wrote off my loan, terming it bad debt. This is ridiculous since the last payment I ... Read More »

              Asset Acceptance Called Me on an Old Bank of America Debt. – Terri

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              “Dear Steve, Asset Acceptance LLC called me recently and said they were collecting on an old Bank of America debt. They told me it was from a period of time when I lived in California (1993-1994). I told them I did not believe I owed this debt and to please send me a statement or signature verifying it belongs to ... Read More »

                We Were in a Debt Settlement Program and Our House Burned Down. – Rebecca

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                “Dear Steve, Please help! We are in serious financial problem over our debts. Both my husband and I made some bad choices regarding our old home and credit use. We moved to a new house in August 2008. We had a higher mortgage and additional HOA fees. Anyhow, we started having problems paying all the credit card bills. In February ... Read More »

                  My Mom Cosigned for a Car Loan for Me. – Diana

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                  “Dear Steve, My mom cosigned on a car for me …to make a long story short this was in 2006 the car was repo and sold for less then owed ..and my mom is mentally ill what should I do? Diana”   Dear Diana, I’m afraid your options are limited. Someone will either need to pay the debt or she ... Read More »

                    I Don’t Know Which Was Worse, the Cancer or the Student Loan. – Paige

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                    “Dear Steve, Old Student loan rehabilitated with tagged on interest and fees. Need help reducing the capitalized interest added to the loan while I had cervical cancer and lost my job and could not make payments. Do not know where to turn. 7900.00 in capitalized interest was added . I have an old stafford loan with Suntrust Educational loans (guarantor ... Read More »

                      Weltman, Weinberg & Reis Sued Me and Now Have a Judgment Against Me. – Jay

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                      “Dear Steve, Been hastled by weltman weinberg and reis co. They now have a judgement against me for an old credit card. They are now trying for writ of execution. I have recently had a judgement against me for 5,000. This is for a debt owed to a credit card that was charged 3,000. I am on unemployment and have ... Read More »

                        I Just Got Fired From My Job. What Should I Do? – Marie

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                        “Dear Steve, I just got fired from my job and now have no source of income to pay my bills which include over $13,000.00 in credit card debts. I’ve always paid my bills on time and am current with all my credit card payments. I have a very good credit score. I have filed for unemployment but it hasn’t been ... Read More »

                          I Have a Shopping Addiction and Feel Like an Idiot for Being So Irresponsible. – Gloria

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                          “Dear Steve, Age 55 / divorced 14yrs with employer (job security ‘8’ on scale of 1–10) 55k in 401k (currently not contributing due to debt/no other savings) Upside-down on home mortgage (recently approved for a loan modification – 30yr fixed 4%) 10k in credit card debt (pay $250 mth in payments) 3yrs left on auto loan (14k) Excellent credit/current on ... Read More »

                            My Husband Was Laid Off and We Lost Our Six Figure Income. – Cindy

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                            “Dear Steve, In Nov. ’07 my husband was laid off as a homebuilding superintendent. His salary was 6 figures, we were in the middle of a huge remodel on our home. The bank stopped making loans to the buyers of his homes, the job site (an entirely new community) was shutdown, he was laid off after 20+ years in the ... Read More »

                              Our Debt is From IVF Treatments But We Are Also Underwater On Our Mortgage. – Rob

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                              “Dear Steve, Key Points. Combined 150K salary with wife. 47K in CC debt (9 different accounts – all APR at 11% and below. 8k loan (0% interest for new windows for house). 80/20 mortgage with first loan I/O ARM (reset Feb 2012, at 6.75%, balance is 284K. Second mortgage at 8.58%, balance is 69,842. 38k in combined 401K. House is ... Read More »

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