I’m 62 Years Old With $48K in Debt and I’m Drowning in Payments. – Wayne

“Dear Steve, Retail management – 62 yrs old -owe 48000 in credit card debt- I owe 48000 in credit card debt. At this time I have been able to keep payments current but not much longer. Pay around 1500 a month in credit card payments. Ive talked to counselors but see no different in the … Read more

How Can I Help My Parents With Their Debt Situation? – Kaleb

“Dear Steve, I need a financial solution for my parents. My wonderful parents were misguided while pursuing a personal loan about 10 years ago. Despite the bad decision to accept this loan my parents were able to pay the debt consistently for about 8 years. My dad is a contractor and the money slowly stop … Read more

I Have $100,000 of Credit Card Debt and Thinking About Debt Settlement and Bankruptcy. – James

“Dear Steve, My credit card debt has reached $100,000. I was able to keep up with the payments, but due to pay cuts and such, I can no longer afford even the minimum payments. It appears the only options I have are bankruptcy or debt settlement. Debt settlement seems like a viable option, but there … Read more

I Lost Most of My Income. How Can I Get My Debts Reduced? – John

“Dear Steve, The economic downturn really hurt me. I lost 4 of my 5 sources of income. It killed the equity in my house (it is now worth about $15K more than my remaining mortgage) and nearly wiped out my savings. Right now, I have about $50K of credit card debt. If I pay the … Read more

How Can I Repay My Credit Card Debt When I Have a Fixed income? – Gary

“Dear Steve, I owe about $8000 in credit card debt. I am on fixed income of about $750 a month and I have $350 a month I pay towards a mortgage plus utilities. My monthly credit card payment is about $140 out of which most is for interest. How do I go about clearing this … Read more

We Were Paying All Our Bills and Then the Credit Card Companies All Raised Their Minimum Payments. – Liz

“Dear Steve, It’s not as if we don’t know what happened. As a couple we have an excellent and good credit rating. One month we were paying everything on time and the next everyone raised their interest rates and minimum payment and we didn’t have the money to make ends meet. The only things we … Read more

My Boyfriend Has $20,000 in Credit Card Debt on 8 Cards. – Kathryn

Kathryn “Dear Steve, My boyfriend has $20,000 in credit card debt on a total of 8 credit cards. He was able to pay his minimum payments & a little extra, as he had been trying to do the debt snowball elimination method. Recently Chase bought out a couple of the companies he has credit cards … Read more

Unemployed, Pregnant, and Can’t Afford the Payments – Erin

“Dear Steve, Unemployed, pregnant, and cant afford the payments demanded by the debt collectors. I am trying to make the demanded payments by the debt collectors, with out defaulting on my car payment, insurance, and medical bills. Do I have to send the collection agency the payment they are demanding, or can I send what … Read more

I Can Afford Only The Minimum Payment. Where Can I Get a Debt Consolidation Loan? – Patricia

Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question.

I Have a Low Interest Rate on My Credit Card But Can’t Afford the Minimum Payment. – Jean

Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question.