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Ask The Get Out of Debt Experts

We Make Good Money But We Are Drowning in Debt. – Joe

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“Dear Steve, My wife and I have always been in debt. We currently have about $90k in unsecured debt, a $256k mortgage, and $30k in car payments. We earn about $150k per year between the both of us. We have two small children. We are literally drowning right now. We both have very limited part-time jobs don’t bring in much ... Read More »

    What Can a Family Do to Get Help With the Mortgage and Credit Card Debt? – Joe

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    “Dear Steve, I got laid off from work and scared of losing everything. What can me and my family do to help with the mortgage and the credit card dept so we don’t lose everything? Joe”   Dear Joe, I had the following questions that I’d like for you to answer before I can answer your question. Please post your ... Read More »

      I Am Physically Sick Over My Debt. – Lynn

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      “Dear Steve, severly in debt around 50000 not including mortage. Behind on all but mortgage. Talked to lawyer,says I won’t lose the house but I am having a hard time believing it. I don;t live in it, my parents do. they help pay what they can, its not a rental. Can;t find any alternative, was even considering quitting my job ... Read More »

        What Can I Do to Get My Husbands Credit Score to Go Up Instead of Down? – Aubrie

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        Aubrie “Dear Steve, My husband and I are trying to refinance our home. In order to be approved we need a credit score of 620. My husband had a few medical collections on his credit report, so I payed them off. His score went from 609 to 575. Why would paying off old collections cause my husband’s score not only ... Read More »

          I Am Now Living in Qatar but Creditors From Abu Dhabi Are Threatening to Have Me Arrested for Debts. – Boston

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          Boston “Dear Steve, Good morning Sir, I was terminated from my job in Abu Dhabi in May 2008 have have left credit cards and loan balances. I sent an email and fax message to all credit card and bank company that I will repay them as soon as I get a job. I recently got a job here in Qatar ... Read More »

            I Signed Up With a Debt Settlement Company But I’m Afraid to Quit. – Frank

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            Frank “Hello Steve, I have about 27K in credit card debt, 6 cards total. I am late on most of them, but they haven’t been charged off. One card though recently was removed from my profile where I can no longer make payments on the bank website. I make enough to participate in a DMP, but recently signed up for ... Read More »

              My Son Has Chron’s Disease And is Struggling With Debt. – DD

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              DD “Hi Steve, My son and his wife are having alot of probelms. My son, can’t work for awhile do to his health, He has Crohn’s diesease and a seizure disorder. They do have a condo, which is an interest only deal…My question is, they have $5000 on credit cards, and they plan to pay it with savings. He will ... Read More »

                I Have a HELOC Loan Against My Brothers House. I Can’t Make Payments. – Junior

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                “Hi Steve, Last year I started the process to buy a house with my domestic partner but 4 days before the closing in nov. 2008 I lost my second job since then I been trying to find a second job (part-time/full time) without look, since then I have add about $20,000 in debt. but I also have a HELO for ... Read More »

                  We Are Thinking of Cashing Out Our 401K to Pay Off Some Debt. – Mary

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                  “Dear Steve, We are a couple in our late 50’s. Our problem, we bought a house two years ago, payments $1700. we have $15000 in CC debt all in collections, we had a cut in income….we bring home $3100 a month. We have exhausted all savings, we cannot pay insurance, expenses, cc, etc. in full. We do not save any ... Read More »

                    Should I Use All of My Savings to Pay Off My Credit Card? – Hal

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                    Hal “Dear Steve, I have an outstanding credit card balance of $ 8,288.76 at 18.99% APR. We are paying roughly $500 a month, which is about 300 over the minimum. However, the finance charges costs about $138, seems to me to be a losing battle. I have 13K in a savings account that is making just over 1.3% interest. Just ... Read More »

                      I’d Like My Farmer Father to Co-Sign for a Loan so I Can Get Out Of Debt. – Chris

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                      “Dear Steve, 36 years old. In the last 5 years I have had two extended periods of unemployment. I now make 37,000 a year in a good salaried job which I was hired full-time at 3 months ago. The previous 22 months I was either unemployed or making temp wages and built on my debt. Now I have a massive ... Read More »

                        I’m a Mother, Wife, and College Student Drowning in Debt. Ericka

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                        “Dear Steve, I’m a 25 yr old mother and wife. When I was 18, starting college in 2001, I signed up for one of those “Hey get a free t-shirt! Sign up with MBNA!”, yeah big mistake… later on I was offered another credit card by the mail, I took it, I was never taught anything about credit… I paid ... Read More »

                          I’m Afraid We Are Going to Lose Our Vehicles to Repo? – James

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                          “Dear Steve, Hi, I am currently out of work and my wife will start a travel position October 5th. We are behind on our car and truck payments 1 month. We just modified our home and got our payment lowered for 5 years. We will be able to catch up on our payments within 2 months, but I’m afraid we ... Read More »

                            What Do You Think About Us Selling Our House And Paying Off Part of Our Credit Cards? – Susan

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                            “Dear Steve, My husband is 51 and I am 59. My goal is to retire at 62. We have a 1st & 2nd Morgage. Also, over 100,000 in credit card debt. We are living week to week to make all payments. We have an offer on our house. The offer would pay off the mortgages and about $45,000 of our ... Read More »

                              I Settled My Debt But Bank of America Says I Still Owe It, In Full. – Chauntel

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                              Chauntel “Dear Steve, Hi, I had a BOA credit card that I couldn’t continue to may payment to for months, so it went into default and then collections with ICSYSTEM. After a couple of months I was abled to start making payments back so I called BOA and was told my account was indeed sold to ICSYSTEM. ICSYSTEM rep told ... Read More »

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