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Ask The Get Out of Debt Experts

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”   Dear Mellisa, I’m jealous of your move to Playa del Carmen in Mexico. I’ve had some ... 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 »

                        73 Year Old Retired Teaching Assistant Drives Credit Cards up to $18,000. – Camille

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                        Camille “Dear Steve, I have a 73 year old friend who, unbeknownst to her son, has driven two credit cards to their limit, approximately $18,000.00 in all. She is a retired teacher assistant and has little to no money left each month after paying the minimums for each card plus her health insurance. She is unable to purchase medicine, go ... Read More »

                          We Want to Sell Our House, Pay Off Our Debt and Start Over. – Julie

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                          Julie “Dear Steve, In 2004, we bought our house for $916,000, put about $50,000 of improvements into it (e.g. finished basement, paved driveway, landscaping). In the last five years we have added a new baby to the mix and racked up $40,000 in credit card bills. Our current plan of attack is to sell the house for $789,000 (what it ... Read More »

                            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 »

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