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Tag Archives: bankruptcy

Peter Is Trying to Find Shelter In These Uncertain Economic Times

Financial Tornado

“Dear Steve, I’m wondering if it time for a a mid-recovery, mid-recession course correction? My situation is grad school era babies, two layoffs and completely unnecessarily missed/late CC payments have buried us in CC debt (65K@30%APR), auto (6K@0%, 15K@7%) and student loans (35K at 8%) with little hope of lower interest rates or new financing options. Thankfully we got out ... Read More »

    Lauren is Searching For Ways to Get Out Of Debt And Make Her Bad Credit Go Away

    Ready to Collapse

    “Dear Steve, If I find a consolidation company to help me pay my bills will my bad credit go away? Lauren”   Dear Lauren, It is usual for people to search for a magic wand that will make their debt go away without impacting their credit report. There really is no such solution, and here’s why. In order to help ... Read More »

      I Cosigned for a Car Loan and that Person Went to Jail. Now I Have to Pay it. – Noname

      Ready to Collapse

      Noname “Dear Steve, I am in a distressed situation and i dont know what to do about it. I recently lost my job and I have 2 car payments that along with insurance is taking about 600.00 a month and recently a family member that i signed for a car went to jail so now i have that car as ... Read More »

        Willis Asks “Do I Pay Or Ignore My Credit Card Company?”

        Ready to Collapse

        Willis “Dear Steve, I am 81 years old, rent an apt and am retired. Have 7,100 dollars on a credit card. A financial advisor told me to just walk away from it. I have no job, do not own a house, if they sue me what can they get? I am paying $200 a month on the debt. I had ... Read More »

          Will I Be Able to Get a Job After Bankruptcy? – Erin

          Ready to Collapse

          Erin “Dear Steve, My husband has been out of work for over a year, and my current job does not pay well. So far, we’ve been able to keep up minimum payments on all our bills, but we have student loans and medical bills coming due that we are currently not able to pay. We are considering bankruptcy, but are ... Read More »

            I’ve Got Eight Kids at Home and an Upside Down Mortgage. – Justin

            Ready to Collapse

            Justin “Dear Steve, I have $56K in credit card debt between my wife and I. My debt is just over $22k and hers is just over $34k. I earn around $50k a yr and she only earns about $7k a yr. We have 8 kids living at home and an upside down mortgage that we owe about $200k on w/$1300 ... Read More »

              Jill Says, “I’m a Stay At Home Mom. We Are Starting To Sink.”

              Ready to Collapse

              Jill wrote me through the GetOutofDebt.org site and asked for help. You can write me also and ask for help. “We are in a load of debt. My husband makes $90,000 a year, I am a stay at home mom. We own our home, but there is not much equity so we can’t refinance. We owe $50,000 in credit card ... Read More »

                I’m Self-Employed, Sinking in Debt, and Considering Bankruptcy, Again. – Aletheia

                Ready to Collapse

                Aletheia “Dear Steve, I’m self-employed and my earnings so far this year are about a third of what they were last year. with some scrambling for new clients, the situation is improving, as far as i can tell. but my debt load is too high. i’ve stopped using credit cards, and i’ve arranged for a personal bank loan to pay ... Read More »

                  Trisha is a Single Mom, Separated, and Facing Bankruptcy. What Should She Do?

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                  Trisha “Dear Steve, I am a single mom and heavily in debt. I was living with my husband (we are legally separated) because of finances but recently I moved out. I am not behind on my payments at this time because I didn’t have to pay rent, utilities, etc. It is only a matter of time before I can’t make ... Read More »

                    How Do My Hubby And I Get Out of Bad Credit On One Low Income in Australia? – Evelyn

                    Ready to Collapse

                    Evelyn “Dear Steve, Hi both my husband and i are in around $40k debt combined. We live in Sydney on only his one income and find it hard to live comfortably now we seem to be going behind and behind. I’ve tried to get loans to pay debt but havent been able to due to our bad credit us both ... Read More »

                      American Express is the Least Helpful and Scariest Creditor I Have. – Patricia

                      Ready to Collapse

                      Patricia “Dear Steve, For 10 years I was self employeed making very good money on the inernet. Over the past 6 months the sites I got work from began to close, or remain open with little to no clients. My income dropped 80% (seriously) I am 3 months behind in my mortgage and currently working with them. I owe the ... Read More »

                        Our Attorney is Advising Us to File Bankruptcy But I Don’t Know. – Andy

                        Ready to Collapse

                        Andy “Dear Steve, About four years ago, my wife lost her job. She was having difficulty getting a job and used credit cards hoping she could get a job soon and we could repay them. Unfortunately, when she finally did get a job about six months ago (earning about 40% of her previous income), we are buried in about 120K ... Read More »

                          Will I Have to Divorce My Wife to File Bankruptcy? – Dan

                          Ready to Collapse

                          “Hello, Mr Steve. Here goes my story. I am $90k in credit card debt only. I pay my bills on time. I have a 725 fico score. I make minimum payments on my credit cards. I spend money frugally on the house, bills, gas for the car, groceries, eating out only once a week with my family, haircuts, and auto ... Read More »

                            My Mother Was Told by a Lawyer to Stop Paying Her Bills. – Keith

                            Ready to Collapse

                            Keith “Dear Steve, This question is for my mother. She filed bankrupcy 20+ years ago, and since then has rebuilt her credit and all her bills are up to date and in good standing. The problem is that she is $17000 in debt and for her that’s like a million dollars. My mother was advised by a lawyer to not ... Read More »

                              Emily Wants to Know “I’m Pregnant And Got My Hours Cut. What Do I Do?”

                              Ready to Collapse

                              Emily wrote in to me at GetOutOfDebt.org to ask for help. Here is what she said. “I’m having some money problems. I’m having to struggle on making a payment on time and cause I’m pregant my hours got cut back at McDonald’s. Just trying to pay people back and stay on top with my debt with rent. How can i ... Read More »

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