Got debt questions? Ask the Get Out of Debt Experts! Get practical advice and real solutions from trusted professionals to take control of your financial future.
Question: Dear Steve, My husband hasn’t had an income since 2012. We have 450k left on the mortgage, owe around 75k on credit cards, two car payments, installment loan with IRS for 40k, Paying 1k interest monthly on 250k HELOC since 2006. He emptied his 401k-no retirement left. I work for US govt, earn 112k, …
Question: Jon, We have a timeshare contract in the USA since last year. We cannot afford to make payments anymore. I would like to know if I have a repossession in the USA. Would that affect my credit score in the UK? I’m a resident in the UK. Angela Answer: Angela, Help to clarify a …
Question: Dear Steve, My now ex-husband is incarcerated for 20 years. Prior to his incarceration, I signed paperwork to endorse a consolidation for student loans. I could no longer afford to pay the Navient high monthly payment. The Navient website lists two consolidated loans at zero dollars owed and paid by N.Y. State Higher Department …
Question: Dear Steve, Im 65yo and wife 64yo. She works about $110,000/yr. We used to bring in income double that. Around $250,0000 in 401Ks. We’ve been carrying debt -credit card over 15yrs making minimum payment-NONE missed, going down super slow now around $84,000 (bad business we gave up and home repairs). I was forced to …
Question: Dear Steve, Hello, I have about $30k still owed to Navient on a private loan that had the original principal of $30k and I have already paid $40k towards it over the last 10 years. I want to try to settle a lump sum pay off for $15k because I just can’t fathom paying …
Question: Dear Steve, Hello. I’m a 29-year old. I have had only two credit cards (both closed) and now I have a card from a creditor asking for money. I had the credit card when I was in my early 20’s and they only had a credit line of $1,200. So the debt is quite …
Keeping your kids busy and on track with their studies is challenging, especially when you need to work remotely at the same time. Luckily, there are hundreds of incredible online resources that you and your family can use. Many sites have even opened their educational platforms to free public access during the coronavirus crisis. Here are several of our …
Question: Dear Steve, I currently have $95K in debt with NJClass loans which I’ve been working diligently to pay off. My mother, my cosigner on the loan, went through bankruptcy 2013-2018. During this time, the loans were put on a “stay” period, where payments were not due but interest still increased. I also was not …
Question: Dear Steve, I owe a lot of cc debt but have never missed or been late. I’m probably their most profitable client! I’ve asked for reduced rates, but been declined, leaving me few alternatives. Why would an issuer rather force me into bankruptcy rather than offering this relief? Karen Answer: Dear Karen, Yes. Logic …
Question: Dear Steve, Over the last 3 years, I have accumulated $105,000 in student loan debt. I was in medical school and took out student loans for tuition and cost of living. After some difficult events including divorce and long distance from my children which lead to depression. I withdrew after two years of the …