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Ask The Get Out of Debt Experts

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 »

        My Family and I Have Always Lived a Modest Lifestyle But We Are Dying From Medical Debt. – Paul

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        “Dear Steve, My family and I have always lived a modest lifestyle. We built a modest home and only owe $75,000. We wait until a car is paid for before we ever think of buying something new. I can’t say that we have fallen into the norm of using credit cards to buy things we don’t have cash to purchase. ... Read More »

          We Had to Charge Some of Our Daily Expenses to Get By. – Tracey

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          “Dear Steve, My husband and I have over $65,000 in credit card debt. We have to charge some monthly payments, such as insurance, and all of our daily expenses so that we can pay all of our bills on time. This, of course, just makes the credit card bills continue to go up. Bankruptcy is not an option because I ... Read More »

            Can I Legally Do Anything to Eliminate Some of My Crushing Student Loan Balance? – Mark

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            “Dear Steve, I borrowed around fifteen thousand dollars at eight percent in federal student loans to help pay for college. Four thousand was unsubsidized. That was many years back. I have been working as a substitute teacher, but only earn barely enough to survive. Sometimes I don’t even get calls to work. I have state unemployment insurance that helps me ... Read More »

              I’m in India and Drowning in Debt and Looking for Debt Consolidation. – Rao

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              Rao “Dear Steve, I live in India. I am working in a good limited company. My monthly income is Rs.15000/- permonth. I have 6 Credit cards total dues around Rs.2 Lakhs and Bank Loans of Rs.2 Lakhs (Principal). I some how managed to pay all the monthly payments without default till March 09. From next month I am not in ... Read More »

                What if I Just Stop Paying My Credit Cards in Texas. – Steve

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                “Dear Steve, I currently have around $65K in credit card debt. Some of it is from paying of my auto loans, 13K, with balance transfers in order to lower monthly payments. The bulk of it was from 4-6 years ago, when My wife and I both had a 25% reduction in pay for over 2 years (thought it was going ... Read More »

                  I’ve Been Unemployed And Behind on My Discover Card. They Are Suing Me. – Liz

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                  Liz “Dear Steve, I have been unemployed due to downsizing since June 2008. I fell behind on my Discover card payments, and now they are suing me for $10,000 plus court costs and interest. I can’t make ends meet on my unemployment check, and even that is due to run out in May. I am receiving food stamps and will ... Read More »

                    I Am in Debt to American Express And Being Sued By AMEX. – Linda

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                    Linda “Dear Steve, I have been a customer for 13 years. In that time my payments were never late. Dec. 2007, I was late. A customer rep called me and I handled it right away. (Late payment was the result of an unexpected death in immediate family.) As a result the interest rate was raised to the maximum 29%. This ... Read More »

                      I Want to Tidy Up My Debt And Make It Look Better. – Laurie

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                      “Dear Steve, Putting it nicely I want to “tidy” up my debt. I want to get my ducks in a row so my husband and I can eventually buy a different house. Here’s my financial picture: Together my husband and I take home: $5800/month Secured Debts: Total: $1503/month broken down as the following: 1st mortgage approx 72,000 @ 6.75% 30 ... Read More »

                        I Don’t Want to Pay Stupid Credit Card Overlimit Fees And Charges. – Melissa

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                        “Dear Steve, I have 2 credit cards that I haven’t paid since August. Now my debt is almost 5000 since most is from over limit, late payment and finance charges. I was able to get one credit card to accept 50 a month at 0% for the next 12 months. Obviously i am hoping to pay more over the course ... Read More »

                          Who is the Contact at First Horizon Loss Mitigation? – Daniela

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                          Daniela “Dear Steve, My lender is First Horizon Who should I contact with, who is the right person in Loss Mitigation Department I am already in default 3 months. Please help. Daniela” The Answer   Dear Daniela First Horizon Loss Mitigation Department Leigh Ann Hammon Lhammon@firsthorizon.com 214-441-7329 Shantell Williams shtaylor@firsthorizon.com 214-441-6013 Read More »

                            Is There a Debt Management Program For Folks Who Are Not Currently Behind? – John

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                            “Dear Steve, Between medical bills, my son’s college tuition, and just plain being stupid, my credit card debt has just gotten out of control. I’m not having any problem making minimum payments right now, but I see that changing in the coming months. We bought a house last September and as soon as the mortgage began reporting, the credit card ... Read More »

                              I’m Unemployed on Jobseekers Allowance But Creditors Want More. – Paul

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                              “Dear Steve, I’m on jobseekers allowance at present been unemployed for 6 months I am in debt on 4 credit cards total amount eighteen thousand pounds sent in budget plans with offer of payment but still find it difficult to keep up the payments and the debt companies never let go no matter what you tell them they still keep ... Read More »

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