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Ask The Get Out of Debt Experts

I’d Like to Cash Out My 401K, Get a Home Equity Loan and Reinvest it in an IRA. – Rik

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Rik “Dear Steve, Hi Steve, you’re a good guy for helping so many people. We have $90,000 credit card debt all at %25, about 1/3 from unwise spending, the rest from medical bills, and taxes we couldn’t pay due to medical bills. I have been fighting minimum payments for years and years and can’t do it anymore. Our balances keep ... Read More »

    I’m Getting Kicked Out of the U.S. on an H1B Visa and I Owe Money. What Should I Do? – Ravi

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    Ravi “Dear Steve, I just lost my h1b visa (work visa) for US and now i have to leave US in next 3 weeks and go back to my home country India. I have a total 15000$ debt on my credit cards and a charge card from AMEX. as i am not in the position to pay my debt right ... Read More »

      Should I Cash Out my 401K to Pay Off Debt? – Anna

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      “Dear Steve, I am currently a stay at home mom and my husband is working outside the US. Our monthly income is $13,000/mo. And our revolving debt is listed below: Home Mortgage – $340,376.98 – 2,098.82 Line of Credit 191,529.48 – 568.53 Credit Card 1 10,088.49 – 336.00 Credit Card 2 15,865.05 – 343.00 Credit Card 3 13,321.12 – 231.00 ... Read More »

        My Husband Lost His Job. What Can We Do To Get Help From The Credit Card Companies? – Cyndi

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        Cyndi “Dear Steve, My husband lost his job. We are $13,000 in credit card debt. We owe a mortgage and an equity loan. My income covers most but not all expenses. I need to know what I can do to get the credit card company to set me up on monthly payments for what I owe,without adding anymore service charges ... Read More »

          I Think I Need to Go Bankrupt. Will They Take My Husbands Car. – Leslie

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          I apologize in advance for the short response. I am currently away on vacation with limited internet but wanted to give you an answer as soon as possible. Steve Leslie “Dear Steve, I have a total of $26,000 in credit card debt that I got before I was recently married in 2008. We live in an apartment, we both own ... Read More »

            Is There Any Way to Settle Our Debts With AMEX and Beneficial? – Jennifer

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            “Dear Steve, We got ourselves into trouble with credit cards, espeically with our amex and a beneficial loan which are 18000.00 combined. Our other loans/credit cards are one for 2k, one for 1300.00 and one for 2400. the payments on the first two are killing us financially each month. Is there a way to negotiate with the creditors (mainly amex ... Read More »

              How Can I Qualify for a Loan Modification Program if the Home is Not in My Name? – April

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              “Dear Steve, My credit score was too low so my mom decided to help me with my first condo. She took a loan under her name since I could not qualify, but I had been making the mortgage payments ever since. Our names are both on the property title but the loan is only under my mom’s name. Recently, I ... Read More »

                Almost All the Money We’ve Paid Allegro Law to Settle Our Debts Has Gone to Fees. – Bob

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                “Dear Steve, After ever increasing interest charges on our accounts, we found that we could not keep up the monthly payments. We thougtht if we could space them out that we would eventually pay the bills. Allegro Law made this sound as if it was the answer to our problems. So far, we have had no help from them. Is ... Read More »

                  My Son Has a Huge Mobile Phone Bill. Does He Have to Pay It? – Martin

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                  Martin “Dear Steve, My son is a student at the end of his first year with 6K of debt. He went on a cheap holiday to Greece recently and lost his mobile on the last day. He cancelled his direct debit foolishly thinking that this would cancel his contract. I discovered that he had lost it and had the phone ... Read More »

                    How Can I Help My Husband Realize That We Need to Save Money? – Valerie

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                    “Dear Steve, My fiancee and I are getting married in a few days. We have a newborn on the way and are struggling to save up any money to buy furniture for this baby. We both have jobs and will both be keeping them throughout the marriage. However, going into this marriage he doesn’t save any money. He also has ... Read More »

                      I Was in a Bad Relationship Which Has Left Me in Major Debt. – Cynthia

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                      “Dear Steve, I was in a bad relationship in which has left me in major debt. I have not been able to keep up with payments, a debt consolidator slipped through a payment in which my checks are now being garnished by 25%. I cannot afford for my debt to take over. I want to be debt free. What are ... Read More »

                        What Can We Do to Force Chase Bank to Give Us Realistic Repayment Terms? – David

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                        “Dear Steve, My wife Shantell has two unsecured credit cards from Chase Bank. Her debt on the cards totals about $23,000.00. They are threatening to sue her on January 14 if she does not pay almost $2400 on the largest debt upfront to have the debt removed from the hands of the attorneys so she can deal directly with Chase. ... Read More »

                          I Have a Mountain of Debt. I Am Being Garnished and Thinking of Suicide. – Stacy

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                          “Dear Steve, I am in desperate need of help immediately. I have mountain of debt and am being garnished. With the garnishments I can’t pay off the debts or file bankruptcy because I am only left with barely enough to live on. Also, I have severe bipolar disorder. I got most of my debts when I “blacked out” in a ... Read More »

                            I Just Bought a House And My Soon to Be Husband is Going to File Bankruptcy. – R

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                            “Dear Steve, I just bought a house, in my name only and will be getting married next month. He is planning on filing bankruptcy due to his ex foreclosing on a house that was in both names. When he does this, will it effect my loans? Can they come after my assets, that I had before getting married? R” Dear ... Read More »

                              My House Needs a New Roof. – George

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                              “Hi Steve, Im finally on the right financial track since I am starting to pay off my $20,000 credit card balance since I stopped using the card and am now paying more than the minimum due. Also, I just started contributing to the retirement plan at work as well and also started putting a little in a savings account. Doing ... Read More »

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