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Ask The Get Out of Debt Experts

I Have $150,000 in Credit Card Debt and a Million Dollar Mortgage. – Mingus

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Mingus “Dear Steve, So far I’ve been able to pay credit card bills (total balances over $150k) , my mortgage ($1 million jumbo) and home equity line on time and my credit score is still above 700. All accounts have good interest rates, even the credit cards have none above 7.9%. I no longer have the cash resources to make ... Read More »

    Business Credit Card Debt is Not on My Credit Report. – Galina

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    Galina “Dear Steve, I’m current on my bills and so far have the job. I have most of my credit card debt on business account ( still don’t know how I’ve got them). They are not on any my credit reports( I’ve checked it) The worst scenario I loose the job and can’t pay the debt if it would be ... Read More »

      I’m Divorcing My Deadbeat Husband and He Wants Me to Pay His Student Loans. – Janet

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      “Dear Steve, I am going through a divorce, and am drowning in debt. My “husband” was unemployed for 6 years, which caused me to borrow money to help the family survive. He graduted from school last year, and is currently unemployed and has decided (told me so) that I must be the one to pay for his Sallie Mae school ... Read More »

        Borderline Abused Ohio State Student Ready to Start Digging Out of Debt. – Debbie

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        “Dear Steve, I am a student at Ohio State, and I have about a year left to go in school. I am pretty detached from my parents, who were both unfit and borderline abusive as I was growing up. I left home at sixteen to make my own way, and since then I have not seen a dime from my ... Read More »

          I Put a Business in My Name for my Dad and Now it is Bankrupt. – Sarah

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          “Dear Steve, I put a buisness in my name for my dad trusting it would do well and trusting my dad, now we are going bankrupt and its all in my name, we havent yet declared bankrupcy but the business is closed and the goods have been sold of but we still owe money to the bank and suppliers but ... Read More »

            I’m Unemployed, Homeless, Pregnant, and Just Lost My Car. – Jannie

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            Jannie “Dear Steve, I’m pregnant and unemployed, I have about $13,800 in debt and I’m about to have no place to stay, I’m receiving unemployment right now, and my car just got taken away from me. Is there anyway that you or anybody else could help me? Jannie” The Answer   Dear Janie, Sadly, this is not the first or ... Read More »

              I’m Using My 401K to Get By And Have No Job. – Foster

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              Foster “Dear Steve, I lost my job in November and have cashed and used my 401k to get me through so far. It is now exhausted and I still have no job prospects. My wife works and I get unemployment, but we cannot make ends meet. I have had my credit card accounts closed for some time now ( I ... Read More »

                I Got Screwed Over By the Bankruptcy Trustee and Lost My House. – Gina

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                Gina “Dear Steve, Several years ago, I filed for bankruptcy in order to save my home. I began making Plan Payments as instructed by the Bankruptcy Trustee. It was not until six months later when the Mortgage company filed for relief of stay that I learned the Mortgage company had not received my payments. After paying an attorney (who forgot ... Read More »

                  My Credit Card Companies Refuse to Settle My Debt. – Peter

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                  “Dear Steve, I owe about $50,000 in cc fees- I went two months behind on payments on purpose becasue they would not settle with me before that. I am offering them 35 on the dollar as a one time payment only if they settle- it’s all I have but I do have that. I am leaving the country FOR GOOD ... Read More »

                    How Can I Join Your Kiva Team to Help Others? – Morgan

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                    Morgan “Dear Steve, I’m interested in joining your Kiva team. Is there a minimum donation required? Morgan” The Answer   Dear Morgan, Kiva, for those that don’t know, is a non-profit group that assist small businesses around the world with small microloans, as little as $25. These loans are issued by local in-country lending partners who charge interest to the ... Read More »

                      I Got Divorced And Can’t Afford to Live. – Rhauny

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                      Rhauny “Dear Steve, I got divorced and now live on one income of 1600.00 monthly my car payment is $556.00 A MONTH and my rent is 550.00 leaving me roughly 500.00 to pay for childrens school lunches lights phone car insurance food etc. I am falling apart because of the car and I owe 35,000.00 for 84 months. I dont ... Read More »

                        My Dad Took Out Cash Advances on My Credit Card And Took All of My Savings. – Heather

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                        Heather “Dear Steve, I am a recent MBA grad who got into a lot of debt before and during school because I needed to help out my family. Due to my dad taking out cash advances on my credit cards and then my having to live off my credit cards during school because I had also given him all of ... Read More »

                          My Part Time Computer Repair Business is Going Down the Tubes. – Eric

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                          “Dear Steve, Part time business of computer repair / consultation. I work full time for a fortune 500 company. The part time business was formed as a LLC, can the LLC file chapter 7 or 11 and leave the personal stuff alone? Eric” The Answer   Dear Eric, It depends. The most important issue is going to be if you ... Read More »

                            We Were Forced to Close Our S Corp Business. – Jean

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                            Jean “Dear Steve, Greetings,and thank you for your time and efforts…My husband and my self were forced to close our business of twelve years,OCT 2008 we are sole owners and a S Corp. Two years previous we noticed a significant decline in the economic spending habits, this decline forced us to use all our equity line of credit in our ... Read More »

                              How Do I Negotiate With Credit Card Companies to Lower My Balance and Stop Charging Me Interest? – Mark

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                              “Dear Steve, I’m $20,000 in debt, trying to modify home loan, income shrinking, savings gone How do I negotiate with credit card companies to lower balance, stop charging interest? Mark” The Answer   Dear Mark, The first step is to call your credit card companies and see what they will offer you. If that gets you nowhere then I suggest ... Read More »

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