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Ask The Get Out of Debt Experts

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 »

    Bank of America Sent Me to CCCS and They Rejected Me. – Loretta

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    Loretta “Dear Steve, Am about $50,000 in credit card debt. To date I have made payments (Help of my son) but it is getting harder. Was considering a debt management but would like a name of a good honest one. Chase bank did work out a repay plan but Bank of America will not. Sent me to their cccs and ... Read More »

      HSBC is Suing Me But I Already Told Them I Can’t Afford Their Minimum Payment. – Wayne

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      Wayne “Dear Steve, Over the past six months or so we have gotten behind on an HSBC account. With each letter we received from HSBC and now a debt collection company we have explained our financial situation and asked for a lower payment we canmake. Each letter (the first two were sent with delivery confirmation and the second two were ... Read More »

        I Was Working in the Mortgage Lending Industry Making Good Money. Now I’m in Financial Trouble. – Todd

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        Todd “Dear Steve, I have a mass amount of credit card debt due to a big drop in income over the last 2 years. I was working in the mortgage/lending industry for 10 years making a six figure income. That industry has suffered tremendously over the last 2 years. I was out of work for almost a total of a ... Read More »

          I Can Afford to Payoff My Old Debt. Should I? – Emma

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          Emma “Dear Steve, I was financially reckless as a college student, incurring approximately $22,000 in various credit card debt that I ignored throughout graduate school & post-graduate training. Well, now I’m all done and I make a lovely, lucrative salary. I want to buy a house. My credit score is in the low 500s. I can afford to pay off ... Read More »

            Should I Pay Off a Loan I Cosigned For And Not Let It Go Into Bankruptcy. – Victoria

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            Victoria “Dear Steve, I co-signed a loan through a credit card company for a friend to open a business. I have already renegotiated the rate down to 4%. I did it in my friend’s name. She has other debts related to the business and wants to go bankrupt. I do not want my credit affected by bankruptcy. Should I put ... Read More »

              Kevin in Roanoke, VA Talks About His Debt

              Kevin and I met through Twitter and we made arrangements to meet up on my travels around the country. I’m @GetOutOfDebtGuy on Twitter. On August 1, 2009 I had the pleasure of meeting Kevin, sitting down in a local coffee shop and talk about his debt. He was kind enough to share what it was like for him in hopes ... Read More »

                Nobody Will Give Me a Debt Consolidation Loan to Pay Off My Debts. – Scott

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                Scott “Dear Steve, I make good income (130,000.00/yr) but have three kids and several credit cards from before my pay went up. we have approx 40,000 in debt and the payment are starting to get more difficult. We are still making all of our payments How can I consulidate all this debt to one payment and pay off quicker? Scott” ... Read More »

                  I Have No Money to Deal With My Money Problems. – Debra

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                  Debra “Dear Steve, My job cut my income by 50 per cent , same hours less pay. NOv 15. 2008. My son had cancer with no ins, I had to pay for test and treatment on credit cards,also for gas.and other very important things. My daughter had to go to drug rehab last year, July 2008. All in all I ... Read More »

                    I’d Like to Consolidate My Federal Student Loan, Private Student Loan and Credit Card Debt Into One Debt Consolidation Loan. – Jane

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                    “Dear Steve, My husband & I have been married 6 years and have two children. One of us has been in school the entire time until he graduated a few months ago. He has a well-paying job now and I’m self-employed. We have a decent income for where we live, but now with the school loans needing to be payed ... Read More »

                      I Had a Chase Credit Protection Plan But They Didn’t Cover Me. – Jaimie

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                      Jaimie “Dear Steve, I have been a Chase customer for 3 or 4 years now. I started with the 0% introduction APR, and then went to 12%. My limit is $5800, and I put my tuition on the card so I have a balance of $5,000. I have ALWAYS paid on time, and most of the time pay up to ... Read More »

                        Should the Business Owners Get Involved With Debt Settlement? – Paul

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                        “Dear Steve, I’ve been a business owner for 20 years and along with my partner, we’ve managed to make a pretty decent living in the construction supply and service industry. Years ago, when we started our company, we established credit lines and credit card accounts in our personal names to help fund projects and equipment that are required for daily ... Read More »

                          I Did a Really Stupid Thing With My Credit. – BG

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                          BG “Dear Steve, First – let me open by saying that I did a very stupid thing that I will never repeat. I’m looking for the best way out without killing my otherwise good credit rating. Here’s my situation. I have worked for an employer for 10 years. During the last 3 years he personally hit hard times and could ... Read More »

                            Would It Be Better To Use a Home Equity Loan to Pay Off Credit Cards or Go Bankrupt? – Carolyn

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                            “Dear Steve, With only $30,000 left on current equity loan and $29,000 in credit card debt – what would be better – cash out with new equity loan (which I can do) or file for bankruptcy? With bankruptcy – I’m afraid that a I would not be able to help my disabled daughter and end up worse off if my ... Read More »

                              I Found You Through Mary Hunt and Debt Proof Living. – Shelly

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                              Shelly “Dear Steve, Thank you so much for this website and helping people like myself get out of debt. I was inspired by Mary Hunt and joined as a member on her website debtproofliving to work my way out of debt. I have over 36k of credit card debt and I am using Mary’s system to pay on this debt ... Read More »

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