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Tag Archives: bankruptcy

I’m in the UK. Is There Any Way I Can Get Out of Debt Without Paying a Fortune for Help? – Dean

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Dean “Dear Steve, I have 2 credit cards and 2 loans totalling almost £52000, i am struggling to make my monthly repayments as the interest is crippling, one of my credit cards has recently been handed to a debt recovery agency which has helped a little as the interest on that has now been abolished. but i am still struggling ... Read More »

    Majority of Bankruptcies Linked to Illness and Medical Bills

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    Harvard study finds 50 percent increase from 2001 Most of those bankrupted by illness were middle class and had insurance Medical problems contributed to nearly two-thirds (62.1 percent) of all bankruptcies in 2007, according to a study in the August issue of the American Journal of Medicine that was published today online. The data were collected prior to the current ... Read More »

      Will I Ever Be Able to Buy a House After My Bankruptcy and Foreclosure? – Michael

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      Michael “Dear Steve, I got a chpt 7 a few years back when I was going through a divorce. Ran into some money problems and got a chpt 13 repayment plan but my house was foreclosed on. I am currently renting a home but would like to save money for a big down payment on a new home. I recently ... Read More »

        It Seems Every Answer is Bankruptcy. What Other Options Do I Have. – Noname

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        Noname “Dear Steve, It seems to me that every answer is bankruptcy. I really do not want to give up. We probably have sixty thousand dollars of debt. But I have been able to keep up the payments plus a bit more on every thing each month. Bankruptcy can not be the only answer. I have been reading these emails ... Read More »

          I Attended Digipen Institute of Technology in Redmond, WA and Now I Can’t Pay the Bill. – Orion

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          Orion “Dear Steve, I attended Digipen Institute of Technology in Redmond, WA, from 2001 through 2004. The school was not accredited at the time, so I had to take personal loans from Key Bank (the only bank in Digipen’s area who would loan to students attending Digiepn) to pay for living & college expenses. A few years after I graduated, ... Read More »

            I Thought My Student Loan Was Discharged in My Bankruptcy. Now They Say It Can’t Be and Want Their Money. – Joseph

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            Joseph “Dear Steve, Filed BK in Cali June 2006. EDUCAP loan (student) was included in BK. EDUCAP claims that said loan is NOT dischargeable. I’m concerned that they are accurate. My original loan was for 18k (1800 went to them as a funding fee). I paid faithfully for about 6 months. My owed amount in default was 17,700 ish. In ... 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 »

                The Emotional Toll of Financial Problems

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                A nice article from Fort-Myers, Florida, that has been especially hard hit by the economic problems facing us, highlights the emotional toll that bankruptcy can take on people. As the article points out, those that are facing financial problems today are facing failure for the first time in their adult life. Dealing with the feelings of failure can lead to ... Read More »

                  Most Debt Advice Suggested is Snake Oil or the Wrong Solution For People In Trouble. Here’s Why.

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                  I’ve been following the conversations on Twitter (@GetOutOfDebtGuy) and watching what others are saying about debt management, credit counseling, debt settlement and bankruptcy and it really has me worried and concerned. I’m a guy that lived through financial problems myself and went bankrupt in 1990. I then went on to found and run a non-profit credit counseling company, Debt Counselors ... 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 »

                      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 »

                        Should I Consider Bankruptcy? – Jan

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                        “Dear Steve, My car payoff is $22,900 and I pay $450 a month. I have credit debt that adds up to $20,000. I’m receiving unemployment for the time being I am making payments on everything but I’m nearing an end as far as income coming in. I have not found a job and soon my unemployment will expire. Should I ... Read More »

                          Are the Collectors Lying to Me? – Janet

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                          URGENT QUESTION! Janet “Dear Steve, I am now getting phone calls from creditors with deals to wipe half off & low monthly payments – I am worried that the wiped off half will be given to a collection agency later on. Where were these people when I asked for help before I got behind? I think we should just finish ... Read More »

                            Your God Loves Debtors

                            God

                            So many people tell me about how ashamed they feel about their financial problems. They feel like losers, cheats or just bad people for not being able to honor their repayment promises. It is truly unfortunate that people find themselves in money trouble with debt casting a huge black shadow over their life as far as they can see. But ... Read More »

                              We Have $225,000 in Credit Card Debt. – Jane

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                              “Dear Steve, My husband is on disablity ($1300 per mo) and I am employed and take home about $3,000.00 every 2 weeks. We have $225,000 in credit card debt. Although we have not been late on a payment, we have been borrowing from Peter to pay Paul and can’t go on much longer as our monthly payments now total $4,800. ... Read More »

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