Home > Ask The Get Out of Debt Experts (page 341)

Ask The Get Out of Debt Experts

Should I Take Out My 401K to Tide Us Over? – Dwight

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Dwight “Dear Steve, I am a software salesman to the car wash industry. With the slowdown of the economy I have taken an almost 50% decrease in pay ($100K down to $50K). It looks like my income this year will be in the $40K area. I have a family of 4 beautiful kids (all girls) and a wife who works ... Read More »

    My Credit Reports Are in Such Bad Shape That I Can’t Get Credit Anymore. – Mariana

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    Mariana “Dear Steve, My credit reports are in such bad standing that I can not get any more credit. I suspect identity theft on my credit report from Equifax but can’t obtain a copy of it bc of all the fradgulent claims such as a mortgage on a home – I dont own a home. How can i get a ... Read More »

      Will the American Mortgage Company Chase My Son to the British Channel Islands? – Linda

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      “Dear Steve, I am trying to help my Son/Daughter in law with their American Mortgage My Son/Daughter in law got caught up in a Florida buy from plan scheme and ended up with an American mortgage for $350,000 They live in Jersey in the Channel Islands, both have lost their high paying salaries and now have a third of the ... Read More »

        Is Taking Money Out of My IRA to Pay Off Credit Card Debt a Smart Thing to Do? – Sarah

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        “Dear Steve, I have about 25k in my IRA and about 2k in my 401k. I owe about 11k on credit cards and every month I go more into debt because I make less money then all of my bills. If I were to pay off my credit cards, I would have enough money to live on and wouldn’t need ... Read More »

          My Wife and I Are in the Military and Need to Get a Consolidation Loan. – Andy

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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 Andy “Dear Steve, My Wife and I are in the Military and have 3 or 4 credit cards and a few loans. My wife had identify theft and we tried to ... Read More »

            What Happens if I Default on My Stock Options Loan? – Joyce

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            Joyce “Dear Steve, Retired from 5/3 Bank in 2003 I was offered a loan to purchase my Stock Options. These options were at $40.+ and $50.+ per share. I have a loan for $36,300 at prime with quarterly interest with no maturity date. The stock price now is around $2.00 per share. The collateral for this loan is the stock. ... Read More »

              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 »

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