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Ask The Get Out of Debt Experts

My Unemployment Only Covers My Rent and Gas. Should I Drain my 401K? – Michelle

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Michelle “Dear Steve, I was laid off in Dec08 and am at the end of my savings. Although I do get unemployment, it only covers my rent and gas. I am a single mother of 1 and am getting child support which is soley going to help with daycare expenses. I have 2 credit cards with a combined minimum payment ... Read More »

    I Have Been Wanting to Do Something About My Debt. It’s Time. – Dang in Debt

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    Dang in Debt “Dear Steve, I have been wanting to do something with my debt for a few years and now am pushing myself even harder to get this taken care of. I about 4 credit cards I stopped paying on and have about $12000 i owe in collections plus I have my current bills that I am paying on. ... Read More »

      If I Knew Then, What I Know Now, I Would Have Run Screaming From Sallie Mae. – Rachel

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      “Dear Steve, I have a loan through Sallie Mae that is the subject of many a sleepless night, and if I knew then what I know now, I would have run screaming and NEVER taken out this loan. I graduated from a state university not quite a year ago and took out $42,000 to cover school, books, and living expenses. ... Read More »

        I Put a Friends Car in My Name That Cost $67,000. – Anita

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        Anita “Dear Steve, I’m about 20K in credit card debt. I owe about 142K still on my home. I put a friends car in my name that cost 67K (I’m still not sure how that loan went through). My income is about 43K. I’m struggling!!! I can’t get a consolidation loan because I have more debt than income. I’m trying ... Read More »

          Should We Pay Off Our Mortgage? – Andy

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          Andy “Dear Steve, I am 62 years old and had planed to retire in 3 – 3 1/2 years. With the ecomonic problems today my wife and I are thinking aobut taking $29000.00 out of my 401K and pay off our mortgage. I am still employed but things have really slowed down. So don’t know what year end will bring. ... Read More »

            We Can’t Afford Our Mortgage and Bank of America Said They Can’t Help. – Anne

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            “Dear Steve, My husband and I purchased our first home 2 years ago for $745k and put down 20%. The current balance on the loan is about $550k, and our interest rate is 6.875%. Our payments are $3800 per month. We just lost our business that provide about 50% of our income. Because of this we cannot afford our mortgage ... Read More »

              I Had a Very Good Job a Year Ago and Now I’m Hiding From the Debt Collectors. – Jaime

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              Jaime “Dear Steve, I had a very good job a year ago, but when the company closed I lost my job. I had bills that I could no longer afford. My total debt was $31,000 and the last payment I made was more than a year ago. I have moved away from my former location and have moved twice since ... Read More »

                I Am Currently Enrolled in CCCS And Having a Hard Time Making My Payments. – Kim

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                Kim “Dear Steve, I work fulltime and owe $24000.00 in credit cards. I am currently enrolled in CCCS and I am having a hard time making my monthly payment. I have payed 671.00 for 2 months now, but the 3rd month is due and all I have in my bank account is 25.00. Medical finaces caused me to be -228.00 ... Read More »

                  I Panicked and Called a Debt Reduction Company. I’m Afraid I’ve Walked Into a Scam. – Megan

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                  Megan “Dear Steve, My husband and I currently have around 10-12,000 in credit card debt and medical bills. About 2 years ago, after our 2nd child was born we became unable to make the minimum payments on the credit cards (about 10 different credit cards) and we have also been unable to pay the medical bills from our son’s birth ... Read More »

                    I am Disabled and Worried About Paying My Credit Debt. – Patricia

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                    Patricia “Dear Steve, I am disabled and worried about paying my credit debt. I’m raising my 8yr.old granddaughter and only get 1,000 a month. My aunt died and is unable to pay funral bill and credit cards that I trusted family to pay and they did not what should I do im losing hope? My aunt died and lived with ... Read More »

                      We Are Moving to Mexico for a Job. – Mellisa

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                      Mellisa “Dear Steve, My husband is on unemployment in NJ. We are moving to Mexico Playa Del Carmen for a job opportunity for me and hopefully a better life. Can he still collect unenployment while trying to establish his business in Mexico? Mellisa” The Answer   Dear Mellisa, I’m jealous of your move to Playa del Carmen in Mexico. I’ve ... Read More »

                        We’ve Gone From Doing Well to Barely Getting By. – Michelle

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                        Michelle “Dear Steve, For several years, my husband was doing very well for himself as a contractor and I have had a very stable government job. We began building a life for ourselves…bought a house, two “new” used cars, established some savings, and did not worry about money. As the economy slumped, so did my husband’s business, and he went ... Read More »

                          How Can I Cut My Debt in Half. – Jean

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                          Jean “Dear Steve, I recently moved all my credit card debt to one Credit Card. I canceled card and have a interest rate at 6% with a total of 23000,00 credit card debt. My monthly payments are 500.00 for how ever long. Im current on my payments but with my hours cut back at work Im starting to fall behind. ... Read More »

                            My Debt is Affecting My Everyday Life and Relationships. – Enrico

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                            Enrico “Dear Steve, I have $85,000 in credit card debt and $40,000 in student loans. I have $7000 in the stock market $3000 in savings and $11000 in my 401k. I am a PhD scientist and make ~$100,000/yr. My debt is primarily from credit cards during 6 months of unemployment between PhD and first job. Also, the credit cards were ... Read More »

                              I’m Looking For Debt Relief Solutions. – Kathy

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                              Kathy “Dear Steve, We have credit card debt and an unsecured loan, they total $25,000. I looked at several debt relief places including a law office. I want to partially retire in 2 years because I have a disability and it is very hard for me to work full time. My husband was out of work for 18 months and ... Read More »

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