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Ask The Get Out of Debt Experts

I Was Making Payments to Bank of America and The Charged Off My Debt – Michelle

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Michelle “Dear Steve, Back in 2007 I made a payment arrengment with BOA on my credit card. The balance on the card was 3500 but with intrest and fees it had gone up to almost 4700. The payment plan was 100. a month. Then in 2008 my husbands hours got cut and we had to talk to the credit card ... Read More »

My Husband and I Are Considering Filing Chapter 7 Bankruptcy in Oklahoma. – Amber

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Amber “Dear Steve, My husband and I are considering filing chapter 7 bankruptcy in Oklahoma. The only thing that I have in my name is $5,000 worth of property. My grandparents gave it to me and the way the deed is wrote up is that I can’t ever sell it. It can only be passed down to the family or ... Read More »

My Husband is in the Navy and We are Drowning. – Tracy

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Tracy “Dear Steve, I had excellent credit 2 years ago then my husband who is in the Navy got a job transfer from Florida to Texas- Our Florida home took 2 years to sell and we sold with a shortsale of 118,000- not forgiven by our lender, we also lived on credit cards for 2 years while paying 2 households- ... Read More »

We Are Stuck in a Home in a Neighborhood That is Turning Into a Ghetto. – Lisa

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“Dear Steve, As of today, 4k in money market savings, 2k in old mutual fund, 70k with TSP. Pay off credit cards every month in full. We have two debts, one student loan at $117/month and our townhouse. 10/1 ARM LIBOR will reset in 2015. 310K at 5.75%, with $296k left owing. 2nd mortgage of 27K at 6.75%, 30 year ... Read More »

Where Are The “Eager to Help” Creditors? – Steve

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“Dear Steve, I am nearly reached the end of long journey journey to enter a heathcare profession. Credit, damaged during the lean years of graduate school, was most rehabilitated. But then I had a job change (with pay cut) and adding insult to injury, I have stumbled at the last professional qualfying hurdle – the licensing exam. Once that is ... Read More »

U.S. Post Office Letter Carrier Husband With 22 Years Experience Has Income Cut. – Lisa

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“Dear Steve, My husband has been with a letter carrier for the US post office for 22 years. We recently moved from LI NY to Milford PA to make a better life for our children. With the move meant transferring to a new Post Office. Now with all the cuts in the Post Office my husband is on the bottom ... Read More »

Al asks “How Can I Accelerate Paying Off My Debt?”

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Al “Dear Steve, Do you have a system for paying off credit cards? I have 4 cards ranging in % rates from 0% to 13.99%. I am trying to pay off the highest interest rate one first, just looking for any tips to speed up the process. Thanks Al”   Dear Al, You can use the free Debt Roll-Down calculator ... Read More »

I Am About to Crash and Burn Big Time. – Nicholas

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Nicholas “Dear Steve, So far, my wife and I are current every month on all of our bills, but we’ve been living with steadily deepening debt since we got married 8 years ago. We were students then, living on student loans. We went into debt for our wedding and haven’t had a positive net worth since. I studied hard, ignoring ... Read More »

I Lost My $31,000 Cash Advance to a Ponzi Scheme. – Jimmy

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Jimmy “Dear Steve, Hi, my name is Jimmy and I am from Orange County, California. I recently took a $31,000 credit cash advance for which i thought was a great business opportunity but turned out to be a ponzi scheme. I am in the process of suing the person and as of now i have now 4 credit cards totaling ... Read More »

I Work at a Car Dealership and Think My Truck Will Have to be Repossessed. – Kristi

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Kristi “Dear Steve, I bought a truck 3 years ago on 5 year loan. Since, my husband and I have moved out of state where I began working for a car dealership. We then purchased a truck for him with my employee discount. The owners of the dealership were then forced to sell the business, and I was hired by ... Read More »

I Am Scared, Sad, and Confused About Staying in the Debt Settlement Program With Freedom Financial. – Sandra

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“Dear Steve, I emailed you yesterday and was not very clear about my situation. I would like to start by saying I am scared,confused and feel like I made the wrong decision when I chose to go the debt settlemnt route-especially now with everything I am reading. At the end of December I contacted Freedom Financial to learn more about ... Read More »

Bank of America Charged Off My Debt By Mistake. – Jennifer

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“Dear Steve, we have 2 account s with Bank of America. I had them on payment programs. Our car was broken into and a checkbook was stolen (with other items) . The b of a accounts were set up to deduct payments the last day of every month. The last payment was returned by a frozen account on the old ... Read More »

Can I Go Bankrupt Even Though I Used the Credit Cards to Get By? – Lee

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“Dear Steve, Since last March, I have charged $30,000.00 in Credit Card purchases. The bulk of this was March thru May 2008. In May My hours were reduced (At that point I was using my credit card for survival. I.E. Groceries, Gas, Utilities, Car Repairs and needs). In August I was laid off and still am. In Mid December I ... Read More »

What Do you Think of Companies Like Debt Freedom Relief? – Casey

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Casey “Dear Steve, I have $42,000 in unsecured credit card debt. Initially taken as low-interest ‘balance transfers’, interest has escalated to ~25% and minimum payments have become unmanageable. What is my best course of action? Debt settlement? What do you think of companies like Debt Freedom Relief? Casey”   Dear Casey, I took a quick look online and could not ... Read More »

I’m Working With Franklin Debt Relief on a Debt Settlement Program. – Rob

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“Dear Steve, I had about $12,00 worth of credit card debt. I signed up with a debt settlement company (Franklin Debt Relief) and they worked down my two biggest debts. However, it does show as settled for less than full amount. I have three more debts that need to be paid. I had to make three large monthly payments to ... Read More »

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