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Ask The Get Out of Debt Experts

I Have No Money to Pay My Increasing Debt. – Peter

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“Dear Steve, I’m a salary plus commision salesperson who’s bottom fell out. My company implemented 30% pay cuts on both salary and commision. Combine this with the slow economy and and I’ve made 40% of last years salary. I have moved to a much smaller apartment and still have no money to pay my increasing 20,000 debt. My cards are ... Read More »

    My Motor Blew in My Car and Now I Owe More Than It’s Worth. – Danny

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    “Dear Steve, The motor blew in my 2008 car. I owe more than it’s worth if it were running. Warranty and insurance won’t cover it as they are saying it’s my fault. The dealer want’s nearly $10 grand to fix it. My credit cards are maxed, @ 2x $5000, and my income is down with the economy. I’m barely making ... Read More »

      Should I Trade in My Half of Her 401K From the Divorce for a New Home Down Payment? – Ray

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      “Dear Steve, Getting divorced after 25 years. I’m getting 1/2 of her 401k. Because of the home market we will be lucky to get what we owe on the home. I need a down payment for a new home can I cash out my 1/2 of her 401k to put down on a new house. I’m looking at a $25,000 ... Read More »

        I Went to Flight School But Now I Can’t Afford to Repay My $118,000 in Private Student Loans. – August

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        “Dear Steve, This is a tough one. I am 35 years old, single home owner with a very nice low mortgage of $650 per month. I have some equity, but my credit is not good enough for a refinance to get money out. I went to flight school and accrued currently $113,000 in student loan debt. I also have about ... Read More »

          Do You Have an Email or Phone Number for David Sunlin From Bank of America? – Linda

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          “Dear Steve, Do you have an e-mail or phone for David Sunlin, head of shortsales at B of A? I have located a prop in New Mexico that is going to foreclosure and the listing agent WON”T do a short sale package cause “it takes too long, you never get as response, it’s too late, etc” sunlin says he’ll help ... Read More »

            My Brother is in Jail in Dubai for Debts. – Jiv

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            “Dear Steve, I have read a lot of of your advices from different problems. I am based in Dubai and my case is almost similar to those who have problems with the banks, but it’s not actually me but my brother. The situation is, he and his manager went to the banks to settle his loans, but banks told them ... Read More »

              My Child Has Own Business That Does Not Generate Money. – Mom

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              “Dear Steve, Scenario: Child has own business (in name only really) which is partially paid off. Due to bad debts from people owing money said child has been unable to pay back bank loan for past 4-5 months. Child does not live at home but lives with girlfriend. Child has no assets except said business. At this stage there was ... Read More »

                Will I Be Responsible for My LLC Debt When it Folds? – Lisa

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                “Dear Steve, I own an LLC in Phila, PA (I live in NJ). Can i be held personally responsible for any debt incurred by the LLC? Such as, we had a credt/cebit card machine that according to them (RBS World Lynx) was terminated early and they are billing for almost $800. The business is doing poorly. I am thinking of ... Read More »

                  We Have a Lot of Debt But We Don’t Want to Go Bankrupt. – Heather

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                  “Dear Steve, Due to my husband losing his job and my being off work at times for medical reasons, we hve a lot of unsecured debt. We do not want bankruptcy. We have to refi our house next year so I don’t know what to do. we have about $50,000.00 in debt. Heather” The Answer   Dear Heather, Your options ... Read More »

                    My Second Husband Spent All of My Home Equity Line. – Nicole

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                    “Dear Steve, My second husband, not the father of my children, has managed to spend $150,000 of the home equity line of credit (all of it). He says he gave the last $24,000 to his aunt for ‘safekeeping’ because the banks were going to reduce the amount of equity people have available. $8,000 was for my car and I’ll be ... Read More »

                      I’m a Female in My Late 20s and My Credit is Horrible. – Tayumika

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                      “Dear Steve, Hello, I am a female in my late 20’s and my credit is horrible. However, I have been focusing on cancelling my credit card debts and paying down my school loans. My goal is to purchase my first home in about 3 to 5 years. I’m also interested in investing but don’t know much about it. My question ... Read More »

                        It’s Really Hard for Me to Ask for Debt Advice But I Live in Fear of My Debt. – Afraid

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                        “Dear Steve, Hello. This is so hard for me to do. I am 32 years old and have lived in fear of my debt for 5 years now. It controls my life. I have told no one about the amount of debt I have incurred. My boyfriend recently proposed to me and I want with all of my heart to ... Read More »

                          I’m Unemployed and Can’t Pay My Bills. – Tim

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                          “Dear Steve, I am unemployed,but i have some savings! I have 3 credit cards that total $14,000 and a car loan that I owe $6,000 on. what do you think i should do? they are all over two years delinquent! Tim” The Answer   Dear Tim, You have two choices, you can either wait till you start making money and ... Read More »

                            My Bankruptcy Case Has Been Filed and I’m Scared. – Traci

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                            “Dear Steve, My bankruptcy case has been filed and I will be going to the meeting the the trustees in a couple of weeks. I did alot of cash advances and alot of withdraws out of my account. I am afraid they will think I am being fraudulent and not discharge anything. I am very scared! What is going to ... Read More »

                              We Signed Up With a Debt Settlement Company. They Take Our Money But We Can’t Reach Them. – Karin

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                              “Dear Steve, We have signed up with Allego law in Huntington, NY. 12/15/08. With the exception of talking to them when signing up we have not had any correspondence wtih them. We have tried writting the via mail, sometimes our emails are getting kicked back, creditors still call, the sherriff still shows up. Allegro told us as long as we ... Read More »

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