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Ask The Get Out of Debt Experts

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 »

                    I Don’t Want to File Bankruptcy or Have My Wages Garnished. – Deanna

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                    Deanna “Dear Steve, I also am having many issues with Allegro. I have stopped my payments to them and am working with my 2 creditors on my own. One creditor will lower my total due by $2,000, but I have to pay 3 payments of 2700.00 and I cannot do this. I do not want to declare bankruptcy and want ... Read More »

                      My Wife is Thinking of Divorcing Me So She Can Keep The House. – Brian

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                      Brian “Dear Steve, I am currently out of work. My wife is employed and we are upside down on a mortgage that is in my name alone. Her income is not enough to pay the bills without dipping into our savings. This could possibly run our savings down to nothing and then we lose the house. • We have enough ... Read More »

                        I’m Making Payments Through The Court But Now Getting My Pay Garnished. – Brandy

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                        Brandy “Dear Steve, This is my situation, I took out a christmas with the intentions to pay it back. I quite did not get much back form my taxes and was not able to pay it right back. The owner filed small suit on mine and my husband’s behalf, and the only thing that I can do is pay on ... Read More »

                          We Make Too Much Money and Have Too Much Debt. I Want to Raid My 401(k). – Paul

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                          “Dear Steve, My wife and I have a tremendous amount of debt. We make a lot of money by most standards, and that makes bankruptcy virtually impossible. Our credit card debt alone is more than 50% of our yearly income ($130,000 in credit card debt, plus $60K in student loans, plus $370K in mortgage debt, on $240K of yearly income). ... Read More »

                            My Husband Lost His Job as a Minister. I Drive a School Bus. – Rose

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                            Rose “Dear Steve, I am employed as a school bus driver. My husband was a minister until losing his job and consistent annual income 3yrs ago. He quickly went into Real Estate at precisely the wrong time. Since that didn’t work out so well and put us in the poor house, he has started a new carpet cleaning business that ... Read More »

                              I’m Waiting For My Mortgage Modification to Be Reviewed by Bank of America. – Noel

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                              Noel “Dear Steve, I am an officer for the State of California, and lost 15% $1,100 of my income and it’s caused a hardship because we can’t afford our payment now. It was tough anyway, but after that it’s became impossible. We’ve sent in all the information you advised and a check for what we can afford to pay Bank ... Read More »

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