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What Repaying Your Debt Will Cost You in Retirement – Calculator

What Will Debt Repayment Cost You in Retirement?

This calculator demonstrates the future retirement financial loss you may experience when electing to repay your debt with an extended repayment program offered by creditors, credit counseling or debt settlement, rather than intervene on your debt with solutions like bankruptcy which terminate the debt quickly and allow you to resume saving again for retirement. Calculate how much repaying your debt ... Read More »

    Helped a Friend Get a Car. Now They Won’t Pay. – Mel

    car keys

    “Dear Steve, I friend of mine, Friend A, purchased a car for Friend B in Friend A’s name in January of 2011. They agreed verbally that the car would be the “possession” of Friend B (even though it is in Friend A’s name) and that Friend B would pay all the payments for the five year term of the loan ... Read More »

      My VA Mortgage is Being Foreclosed on. Will They Garnish My Social Security? – Harlan

      Military

      “Dear Steve, I am 68 years old and I draw social security retirement benefits. I also work as a sales associate for a retail company I hav a va home loan that is in forclosure. Can the va garnish my social security retirement benefit? Also, can they freeze my bank accounts? Harlan” Dear Harlan, That is an excellent question. Since ... Read More »

        I Filed a Chapter 13 Bankruptcy and a Creditor Got a Judgment Against Me. – Joanne

        monster under bed

        “Dear Steve, I filed for Bankruptcy in 2010, while in the process of doing so one of my creditors went to court to receive a judgement against me. This company was informed that I had filed for bankruptcy but pursued there claim. On my credit report it shows that I have a judgement against me however they have never pursued ... Read More »

          I Got Into Trouble With a Bill Me Later Account. – Anita

          whispering

          “Dear Steve, MY UNCLE HAD AN ACCOUNT WITH BILL ME LATER FOR MANY YEARS. HE RECENTLY PASSED AWAY AND THIS ACCOUNT WAS STILL USED. I HAD MADE PAYMENTS ON IT REGULARLY. THEN BML CANCELLED THE ACCOUNT AND I AM RECEIVING LETTERS FROM SIMM ASSOCIATES ADDRESS TO MY UNCLES ESTATE. CREDIT LINE WAS INCREASED PERIODICALLY FROM $1,000 TO $5.500 IN VARIOUS ... Read More »

            Can I Negotiate With My Own Creditors to Settle My Debt? – Lesley

            Attractive red-haired female reading a manual before do-it-yours

            “Dear Steve, I currently have $39,000 in credit card debt spread across 5 cards. Two with Chase and 1 each with Citicards, Bank of America, and American Express. I am not behind on any payments, but am only able to make the minimum due on each card every month. I expect that in the next month I may be receiving ... Read More »

              I Am an Unemployed School Principal, Drowning in Debt and Getting Divorced. – Jennifer

              Woman in home office with computer and paperwork frowning

              “Dear Steve, I will soon file a joint bankruptcy with my husband and then get divorced. I owe $170K on my foreclosed house and $154K on students loans. I was a principal and my school closed in 2011. I have gone through unemployment and now live on child support ($570/month) and food stamps. After 15 year of experience, I am ... Read More »

                Private Student Loan Lender Wants to Garnish My Wages. – Adriana

                young woman protects little girl from wind in garden

                “Dear Steve, Defaulted loans on private college I have been getting emails and calls saying that my loans have defaulted and my wages and taxes are at risk to be garnished, I had to withdraw from school due to financial problems as they required an unpaid externship to graduate and I simply could not afford to work 1 month for ... Read More »

                  Zoosk.com Online Dating Site Took My Money and Won’t Give It Back. – Bill

                  woman on computer

                  “Dear Steve, I fell for subscribing to Zoosk, despite what I felt were unusually high charges. One day later, after being sent some “Profiles,” I decided to cancel. They will let you cancel and not get their emails and FB messages, but you are bound to pay the entire amount. In this case about $99.00. Is Isn’t there a three-day ... Read More »

                    Granite Law Wants to Charge Me to Modify My Mortgage. – John

                    Searching-right

                    “Dear Steve, I have a fixed rate mortgage at 6.8% on my home I live in. The amount owed is more than the value. $380K vs. $300?K. A radio ad here in the Chicago market recently stated a company could assist home owners who were under water to get a lower payment. Mine is currently sitting at $3100 including T&I. ... Read More »

                      My Credit Union Sent me a 1099-C for Two Different Amounts. – Sabra

                      IRS

                      “Dear Steve, Credit Union charged off the amount of $2369 for a gap insurance loan that had a balance of $1639 but reported to IRS a charge off of $2574. IRS is going after me for not claiming it as income. How can they have 2 different charge offs and get away with it? Sabra” Dear Sabra, It’s a mystery. ... Read More »

                        Farmers National Bank Took Our Truck. – Crystal

                        tow truck repo

                        “Dear Steve, We received a letter from our bank stating that we are late in making our payments we were three months behind the letter stated that if we paid the amount due of $1319.63 by the last day for payment which was 11-08-2012 that we may continue with the contract as though were not late The bank sent a ... Read More »

                          I Got a Mailer From The Remedy Group Asking Me to Fax My Bank Statement. – Mikki

                          scammer

                          “Dear Steve, I received a mailer containing my name, my address, my last year mortgage amount, my mortgage servicer, an eligibility code and a toll free number of 800-859-8641 and a promise of loan modification to reduce my interest rate. When I responded to the number, I was told that they were The Remedy Group, composed of attys and investors ... Read More »

                            My Car Was Repossessed But They Never Gave Me My Stuff or License Plate. – Jane

                            tow truck

                            “Dear Steve, My automobile was repossessed in Massachusetts on 12/20/12, in the wee hours of the morning from the parking lot at my apartment complex. The loan was in default, so that’s not the issue. Once the car was repossessed, I never rec’d a Post-Possession Notice or, in fact, did I have any communication from either the lender or the ... Read More »

                              I’d Like to Buy a House But I Can’t Get Approved Because of Delinquent Student Loans. – Hope

                              yard

                              “Dear Steve, I have had many delinquencies concerning student loans in the past. At one point in time I thought I was in deferment but obviously I was incorrect. So I show substantial deliquencies in 2006. I actually finished school in 2008 and loans were deferred until 6 months after I graduated. I started paying payments on regular monthly basis ... Read More »

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