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Ask The Get Out of Debt Experts

What is the Best Way to Eliminate My Credit Card Debt? – Anne

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“Dear Steve, I am a 39 year old woman who shares custody of my seven year old daughter. I got divorced a little over a year ago. I bought a townhome right after the divorce. I was lucky I bought when I did, because although I have excellent credit, I work as a bartender and I cannot prove my income, ... Read More »

    My Father Stole $25,000 From Me. – Drew

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    “Dear Steve, I’m 28 years old, have a 17 month old son, sole provider currently (my girlfriend is in nursing school). I have $28,000 in credit card debt, $15,000 student loan debt with Sallie Mae, currently trying to sell my house since I am quickly becoming unable to pay my mortgage. I owe my mother $16,000, which I borrowed to ... Read More »

      I am Completely Freaking Out About My Debt. – Heather

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      “Dear Steve, I was laid off in May and now our family has no way to catch up or settle with these people. We had not been able to pay for 8 months and so now they have sued. We have met with an attorney who advises us to file chapter 7. We have no assets except for the items ... Read More »

        My Bank Does Not Accept Payment From a Debt Management Plan. What Do I Do? – Junior

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        “Dear Steve, I’ve been in a dmp for the last year and 2 months. own a business. I am enrolled in a dmp plan but i have 2 credit cards from the same bank that do not accept payments. how do i go about this to resolve this? Junior”   Dear Junior, Basically, you can’t. Unlike bankruptcy, no creditor can ... Read More »

          I Might Get My Car Repossessed By LoanMart the Title Loan People. – Cynthia

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          “Dear Steve, I have a loan with loanmart, I am exactly 13 days past due, and advised I will make my payment on the 15th which is in 3 days. They said I had to have payment in today or they will repossess my vehicle because it is a new loan. Last month they said my payment had to be ... Read More »

            What About These Commercials Saying You Can Reduce Your Debt to a Fraction of What You Owe? Is it BS? – Jeff

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            “Dear Steve, I have a lot of debt. Credit cards and student loans. I here all these commercials saying you can reduce your debt to a fraction of what you owe. Is this just a lot of hype or is it for real? Do I have to file bankruptcy or meet some other kind of criteria to qualify for these ... Read More »

              My Father-In-Law Died and Left My Mother-In-Law Deep in Debt. – Sherry

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              “Dear Steve, My father in law passed away and my mother in law has been left with an enormous debt. we did not realize they were this much in debt and are trying to figure out the best option for her.she is 73 yrs old. just to make her payments each month she is 500.00 short. she has a mortgage ... Read More »

                My Boyfriend Was in a Car Accident and Has a Big Medical Bill. – Mary

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                “Dear Steve, My boyfriend was in a car accident and went to the ER with chest pain immediately after it– we thought the insurance company would cover the cost of the ER visit because the other driver was at fault. There was no medical problem found and no follow-up required, but the bill for the visit was around $1600. The ... Read More »

                  I Have a 12 Year Old Debt I’m Paying On. – Steve

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                  “Dear Steve, I leased a ford vehicle about 12 years ago and had some financial issues and had to turn it back in….long story short I have had money taken from my bank account recently and also made payment arrangements to pay an amount each month of $100…are ther any statue of limitations laws that I should be aware of…do ... Read More »

                    Should I Only Pay Two of My Credit Cards? – Heather

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                    “Dear Steve, The credit cards that I have are only in my name. I married over two years ago. I owe alot on my credit cards. I have thought about not paying my two highest credit cards to pay my other ones and then pay them at a later date. I wonder if that would hurt my husbands credit considering ... Read More »

                      My Husband Gets Collection Calls From Payday Lenders. He is Now Trying to Make Money With Herbalife. – Cindy

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                      “Dear Steve, I’ve been married since 05 and we have all accounts separate due to his poor credit history. I thought this was a result of a divorce, but I am starting to think otherwise as he has bad spending habits and always runs out of money. I have received calls from companies such as payday loans, fast cash and ... Read More »

                        Credit Cards Maxed Out. I Can’t Get a Debt Consolidation Loan. – Manuel

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                        “Dear Steve, Hi. I currently have 1 credit card just about maxed out at $10,600, another one maxed out at $5,300. I also have a debt consolidation loan from Banknorth for $11,000 (although I paid around $3,500 so I only have $7500 remaining to pay.) I gross about $2240/mo. I was laid off last year so had to use my ... Read More »

                          Should I Just Let the Truck Get Repossessed? – Beck

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                          “Dear Steve, I’ve been reading your advice. I am about to be laid off. I had a business on the side, but just blew the engine in my truck. That side business requies the truck. I can’t afford to fix it and already owe more than it is worth. You advise to pay only “essential bills”. You have advised to ... Read More »

                            What Happens When a Collection Agency Issues You a 1099? – Charlotte

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                            “Dear Steve, First of all, FANTASTIC WEBSITE! What happens when you are issued a 1099 from a collection agency? I’m worried come tax time we will owe a lot of money to the IRS. Help! Charlotte”   Dear Charlotte, The only reason you would be issued a 1099 would be if your debt was written off as uncollectible or you ... Read More »

                              Should I Cash Out All My Home Equity to Pay My Credit Card Debt Off? – Jim

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                              “Dear Steve, Steve , Thanks for your time and advice . I have read many of your articles and still not sure which way to go . I’m down by 60G and need help . My first and second come to about 157.000 and I have enough equity based on todays market to clear out my debt . No one ... Read More »

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