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Ask The Get Out of Debt Experts

I Want to Repossess My Brothers Car. – Nicole

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Nicole “Dear Steve, My brother needed help with getting a car. So me being the nice sister I am agreed to help, not knowing he was not going to keep any of his jobs figuring a 21 year old does not have to worry about life must be. I gave him numerous chances to redeem himself. Finally I told him ... Read More »

    I Just Invested in 33 Loans to Help People to Get Out of Debt

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    Lately I’ve been very impressed with LendingClub.com and the peer-to-peer model that they have developed to let individual investors participate in some small way in making loans to other people that need to borrow money. The LendingClub business model allows both borrowers and lenders to skip the banks completely and lend to each other. From the advertising revenue from this ... Read More »

      How Can I Get Caught Up on Back Payments When I Don’t Make Enough Money to Get By On? – Kenneth

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      Kenneth “Dear Steve, I filed chapter 7 bankruptcy a little over 2 years ago. I was laid off last December and could not find work for 6 months. I am back working now but am behind in almost all of my payments, most notable child support and owe income taxes from last year. I had to borrow money during this ... Read More »

        I’m a College Student and I Feel Suicidal Because of My Debt. – Calvin

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        Calvin “Dear Steve, I am a college student with severe chronic depression. The illness has been so debilitating that I have gone from being a dean’s list student to entering the second term of my fifth year of undergraduate school. Unfortunately, this situation has forced me to take on $41,000 in student loans. I can’t afford health insurance and even ... Read More »

          How Can I Get Inquiries Off My Credit Report? – Chris

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          “Dear Steve, I am purchasing a house for the first time. My credit report says there are too many inquires. My mortgage broker says some don’t belong to them. I also have one delinquent payment on my car, (over 30 days). How do I remove the excess inquires from my credit report? Chris”   Dear Chris, There are three types ... Read More »

            We’ve Taken a Cut in Pay And Can’t Afford Our Chapter 13 Bankruptcy Payment. – Carrie

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            Carrie “Dear Steve, My husband and I filed Chapter 13 bankruptcy in December of 2008. At the time of filing we made a combined total of $64,000 annually. Our total debt is $237,000 ($200,000 in student loans and $37,000 in credit card debt) and our trustee would not allow us to pay our student loans directly along with a smaller ... Read More »

              Should I Use My Money in the Bank to Pay Down My Credit Card? – Jenn

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              Jenn “Dear Steve, I have been out of college for 3 years. I have 26,000 student loan debt with low interest rates 1-4%, 6000 in credt card debt with 9% interest. I’m struggleing with if its better to have a savings accont or to pay down my debt. i currently have a savings account, but I dont know if I ... Read More »

                I Have a Really Big Emergency Fund to Carry Me Through My Unemployment. – Ashlee

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                Ashlee “Dear Steve, I was laid off in March 2009. I’ve been collecting unemployment and haven’t found a new job yet. I built up a large emergency fund so I’m alright until 2011 if needed (covering my mortgage, bills etc). I have a car loan and I owe around $4000 on it, however; I have the money sitting in that ... Read More »

                  I Am Currently 4 Months Behind on My Mortgage and HELOC. What Do You Suggest? – Debbie

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                  “Dear Steve, I am currently 4 months behind on my mortgage and my heloc. I have worked out a modification with my primary lender that I can live with, and I continue to work out a settlement offer with my heloc throuogh chase bank. what would happen if I just paid my first mortgage ? could the heloc bank attach ... Read More »

                    I Have to File Bankruptcy But My Husband Says He Won’t Support It And Will Leave Me. – Julie

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                    Julie “Dear Steve, I have a failed business and am looking to bankrupcy to receive discharge from SBA personal guarantees and from personal credit card debt used in the business. My husband’s income puts us over the median in our state, I have already been advised by a lawyer that for this reason I will have to file Chp. 13 ... Read More »

                      I Dated a Loser Who Took My Money And Left Me With Debt But Now I Want to Get Married to a Great Guy. – Aleah

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                      Aleah “Dear Steve, I am currently in debt of an estimated $7-8,000. (this is including late fees and interest accrued) Its all about 5-6 years old. It is in collections and only one of the collectors still calls me and I don’t receive mail from that one anymore. I also have not received mail from the others in years. I ... Read More »

                        I Owe $40,000 on Student Loans. My School Closed And I Just Found Out They Were Not Accredited. – Tenisha

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                        Tenisha “Dear Steve, I graduated from a school which stated they were accredited and I find out 3 years later that it wasn’t accredited and has been closed down. For loans, I know that I our roughly $40,000. Another school has taking over, but they claim that my credits can be transfered. I need to know what should I do ... Read More »

                          I’m Retired And Afraid to Deposit My Money Into My Checking Account Because of My Foreclosure. – Kris

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                          Kris “Dear Steve, I am a 69 yr old state of ohio retiree. My home foreclosed, also a timeshare that I had to let go. I could no longer afford to pay the mortgages on either . My retirement check is auto. deposited into my checking account monthly. Steve, I would like to know if the mortgage companies can put ... Read More »

                            I’m Leaving the Country But Have a Lot of Debt. What Should I Do? – Worried in Ontario

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                            Worried in Ontario “Hi Steve, My wife and I have run up a debt of around $54,000 in credit cards and lines of credit due to medical problems. We haven’t as yet missed a payment on any of our cards and lines but….know that there is no way we will ever be able to repay this debt. We are planning ... Read More »

                              I Almost Can’t Resist Draining my 401(k) to Payoff My Credit Card Debt. – Blake

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                              Blake “Dear Steve, mortgage: $193,000 ($1556.40 payment) Car: $25,000 ($600.00 payment) Combined Credit Card and Bank Credit Line: $18,600.00 Salary: $75,000 I am only 29 (30 in December) and am having a hard time resisting the urge to take out the $15,000 dollars in my rollover IRA (401k from previous employer) to pay off the majority of my CC and ... Read More »

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