credit card debt

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  Credit Card Debt Survey Alarming and Confusing at the Same Time

  The folks over at Clever put out a credit card debt report which is being reported by others in different ways. Honestly, the results leave me perplexed. While 70% of people say they will not pay off...

  • Posted March 20, 2019
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  I’m in Deep Credit Card Debt and Can’t Get Out. How Can I Get Out of This Credit Card Debt?

  Question: Dear Steve, About 50,000 in Credit Card Debt. Did the 0% balance transfer thing. Tried to get out of debt and got in worse. Debt-to-Income to high now. Can’t get a personal loan. Want to start...

  • Posted January 17, 2018
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  I’ve Got Credit Card Debt Has Built Up After Making Some Mistakes. What Should I Do?

  Question: Dear Steve, I childishly made some large purchases using my credit, and couldn’t afford to complete the payments on a timely manner. Most of those accounts are closed. Is it best to pay them off in...

  • Posted December 7, 2017
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  What is the Best Way to Get Rid of $8,000 of Credit Card Debt?

  Question: Dear Steve, I have credit card debt 2 cards totalling under 8000 total for both. What is best way to tackle this issue? I want to know what is best way to get out of debt...

  • Posted November 15, 2017
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  Is Credit Card Debt Reduction With a 0% Loan Offer a Good Idea?

  Question: Dear Steve, I was unemployed in 2014 and accumulated $33,000 balance on my credit card. Since then I got a job and trying to pay it off. But I can only afford the minimum payment which...

  • Posted October 30, 2017
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  I Can Guarantee to Make All Your Credit Card Debt and Student Loans Magically Go Away Fast And You’ll Have Better Credit

  Yes, that’s right. As many consumers know, when they call one of the many commissioned sales representatives at the average debt relief company they hear about the incredible things the company can do to make debt go...

  • Posted October 25, 2017
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  I Live With Credit Card Debt and Feel Hopeless

  Question: Dear Steve, I have $18,000 in CC debt, I feel hopeless. I’m a provider for girlfriend and myself. I have a seasonal job which made it really tight last winter, so living with credit cards seemed...

  • Posted October 25, 2017
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  My Wife Was Falsely Arrested Because of Credit Card Debt

  Question: Dear Steve, My wife was recently arrested at my home for a credit card debt.. had to bail herself out and appear in court the following week.. well when we showed up at court the gentleman...

  • Posted October 25, 2017
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  What’s the Best Way to Get Out of Credit Card Debt Without Bankruptcy?

  Question: Dear Steve, I’m 70 year’s old and in Credit Card debt plus over spent. What’s best for me to limit my credit card debt without filing bankruptcy. George Answer: Dear George, Starting by eliminating options to...

  • Posted October 2, 2017
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  Credit Card Debt Mailer for S&N Debt Solutions Leads to Beyond Finance

  I received the following mailer as part of my I Buy Junk Mail program. People with credit card debt are apparently being targeted with this mailer that contains a fake credit card in it. S&N Debt Solutions,...

  • Posted October 2, 2017
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  When Not to Pay Off Your Credit Cards

  I just read a great article by Anya Kamenetz. It’s one of the few pieces I’ve read that provides some great real world advice about when not to pay your credit cards. As Anya says, “Of course,...

  • Posted August 30, 2017
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  How Your Parents’ Help Could Hurt Your Chances of Buying a Home

  Getting a mortgage will probably be the largest transaction of your life — no doubt, it will have an impact on your finances for the next 30 years. With that in mind, when it comes to how...

  • Posted February 25, 2015
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• A Paper Worth Reading: Robo-Signing and Lack of Proof in Debt Buyer Cases

  Here is a great research paper worth reading. It certainly helps to focus the robo-signing issues we’ve all heard about with mortgages to a problem that debt relief providers will need to deal with. For a while...

  • Posted November 21, 2011
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• Root Canals and Appendectomy Were Expensive and Landed Me in Bankruptcy. – Ray

  “Dear Lewis, Made many not so smart mistakes which put me into serious credit card debt over the past 8 years or so. Followed by some dental work (multiple root canals) that had to be paid with...

  • Posted October 2, 2011
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• I’m Living Paycheck to Paycheck After a Divorce and Can’t Make a Dent in My Student Loans or Credit Card Debt. – Tonya

  I have just over $20,000 in student loans, $8000 car loan, $700 credit card, I’m working on paying off a charged off credit card of about $3500, and I have a hospital bill of around $1400. I...

  • Posted May 28, 2011
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• Debt Free! And You Can Be Too

  photo © 2008 Mike Baird | more info (via: Wylio)When Amanda and her husband gave birth to their third child her paycheck was greatly reduced during maternity leave. After an increase in interest and payments on their...

  • Posted February 28, 2011
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• I’ve Been Using My House as an ATM Machine. – Jeannette

  Jeanette “Dear Steve, I have used my home as an ATM machine to put 2 kids and myself through college. We have a primary mortgage at 6% and a home equity loan at 8% both at a...

  • Posted September 18, 2010
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• Kam Says “I Have Charged Off Debt In Collections And I’m Scared to Tell My Husband”

  Kam “Dear Steve, Over $70,000 in credit card debt has been charged off from the original creditors and now reside with multiple collection agencies. One of the charges is approximately $30,000, which I pay $200 per month...

  • Posted July 13, 2010
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• This Time I Asked “Do You Think You Are a Failure When You Break Your Budget?”

  Recently I was over on the Finance Your Life blog and asked Doctor S, the blogger there for his opinion on the following question: “Do you become a financial failure when you break the budget just trying...

  • Posted July 9, 2010
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• Keith Writes in And Wants To Know “Should I Consider Debt Consolidation For a Fee?”

  Keith “I have $30,000 in credit card debt plus $160,000 in home loans and business loans. Should I consider debt consolidation from a company that charges me a fee each month?” Keith, Excellent question and my answer...

  • Posted June 9, 2010
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• Daniel Writes In – “How Can I Get Out of Credit Card Debt?”

  Daniel says, “I’ve been buried in credit card debt and it feels like I make payments each month and instead of things going down, things go up. My interest rates recently went up even though I have...

  • Posted April 27, 2010
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• Rebecca And Her Husband Are Struggling to Keep The Business Going

  “Dear Steve, My husband and I own our own business but have been struggling lately. I work a 9-5 job while he stays at home to run the business. We owe a lot of debt in credit...

  • Posted April 27, 2010
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• Judy Is Worried “Should I Save or Pay Off Credit Card?”

  Judy “Dear Steve, Should I save the amount after paying off a credit card debt or pay down another. Help please. Judy” Dear Judy, You asked a great question and one that seems easy but has different...

  • Posted April 15, 2010
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• Richard Writes In “How Do I My Share Of Government Money To Get Out Of Debt?”

  Richard wrote to me at GetOutOfDebt.org and asked me the question below. If you have a question you’d like to ask, just visit GetOutOfDebt.org to contact me. “Dear Steve, I keep hearing about free money from the...

  • Posted April 1, 2010
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• David Writes In “I Have No More to Give”

  David wrote me through the GetOutOfDebt.org site to ask his question below. You can too! “Dear Steve, I have about $20,000 in credit card debt. 4 cards that I’ve transferred balances to, each with a rate of...

  • Posted March 19, 2010
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• Donna Writes and Asks “What Is The Best Way To Become Debt Free The Fastest?”

  “Dear Steve, We owe about $70,000 on our mortgage (we pay $100 extra each month), we have a $110,000 equity line and about $20,000 in credit card debt. We pay extra on each but don’t seem to...

  • Posted March 18, 2010
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• MJ – “I’m Ill, I’ve Got Bills, And I Don’t Know What To Do”

  MJ “Dear Steve, I’ve been able to work very little because of severe health issues. Sadly they are on going, with uncertain prognosis. Medical bills mounting as well. (about 5K). I’ve been living off of credit cards...

  • Posted February 28, 2010
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• Robert Says “Please help. I never knew financial burdens can cause so much stress.”

  “Dear Steve, I have a $190,000 mortgage @ $1614. mo w/escrow. I am $66,000 in credit card debt @ $1520. per mo. Married with 4 children and over my head in bills it’s hard to put food...

  • Posted February 23, 2010
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• If You Live In The Real America, Be Patriotic. Go Shopping And Run Up Credit Card Debt.

  Have you heard the stories that the government wants us to get out and go shopping to stimulate the economy? Remember after 9/11 when President Bush encouraged people to go shopping to get things moving again? Well...

  • Posted February 9, 2010
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• Kayte Has Drained Her Savings And Can’t Pay The Bills Anymore

  Kayte “Dear Steve, My husband and I have roughly $75,000 in credit card debt. Due to the economy, we both have experienced a substantial decrease in our income (i.e., commission based pay). We have exhausted our savings...

  • Posted February 7, 2010
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• San Wants To Know “We Need Some Way To Pay Off Our Debts”

  “Dear Steve, We need some way to figure out how to pay our debts off. We have credit card debt, car loan, a home equity loan that has a balloon next year, medical bills and owe a...

  • Posted February 4, 2010
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• Free Get Out Of Debt Calculators Online

  Use these free online calculators to discover how to consolidate or pay down your debt in the shortest period of time so you can save the most amount of money. The interactive calculations, dynamic graphs and fully...

  • Posted January 29, 2010
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• Hank is on Disability And Wants to Borrow From His Retirement Plan to Pay Off Credit Card Debts

  “Dear Steve, I am on disability retirement. My income is about $3,200 monthly. I currently have about $40,000 in credit card debt, excluding a mortgage (which is upside down). I am $1,100 in the hole every month...

  • Posted January 29, 2010
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• Karen Writes In. “My Interest Rates Are Going Up. My Minimum Payments Are Going Up. Help!”

  Karen “Dear Steve, Have a lot of credit card debt – struggling to keep my head above water. Interest rates are going up, minimum payments are going up, and I am falling behind. which causes the rates...

  • Posted January 20, 2010
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• How You Can Get Out of Debt Fast Without Filing Bankruptcy

  So there’s this guy, Scott, who has developed an ultimate guide to getting out of debt. Sure, I’m as skeptical as the next guy but after looking over the information I was left with a problem, it...

  • Posted January 8, 2010
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• I’m Very Close to Falling Behind on My Bills. Do I Have any Options Other Than Bankruptcy? – Paul

  “Dear Steve, I have piled up over $60k of credit card debt over the past couple of years. My gross income has been in the $55k range for the past two years. I am in a business...

  • Posted January 3, 2010
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• Steve Writes In “I Want to Cash Out My 401(k) And Pay Off Debt.”

  Steve wrote me through the GetOutOfDebt.org site to ask his question below. You can too! “Dear Steve, I currently make $46,000.00 per year with no benefits. My wife’s income is $19,800.00 per year. Three years ago her...

  • Posted December 30, 2009
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• John McCain Has Bad Credit Card Rates

  So there I was on opensecrets.org and looking at the financial disclosure form for presidential candidate Senator John S. McCain, III, and right there on page 27, there it was. John and Cindy McCain have a joint...

  • Posted December 29, 2009
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• Teresa Writes In And Asks “What Should I Do Next?”

  “I have a lot of debt. I fell behind after being diagnosed with cancer. All the medical bills were paid at first but I maxed out credit cards and then took out a HELOC. The HELOC made...

  • Posted December 20, 2009
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• Diana Is Struggling to Make Credit Card Payments And Afraid

  Diana “Dear Steve, I have approximately $25,000 in credit card debt, drained my savings and struggling to meet my payments. I can pay my mortgage and normal billing but not the cards I am so confused about...

  • Posted December 16, 2009
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• Bad Credit Debt Consolidation – Brutally Honest Advice

  I could not help but notice the huge numbers of people searching for information for bad credit debt consolidation information. The phrase is almost an invitation for a bad outcome or maybe just an oxymoron. When you...

  • Posted December 9, 2009
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• Credit Card Debt Trap Video – Must See!

  Dateline NBC did a great show about the issues surrounding consumer debt in America with my friend Elizabeth Warren was in it. She is a brilliant lawyer, consumer debt author and an overall good person. It’s worth...

  • Posted December 7, 2009
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• I’d Like to Consolidate My Federal Student Loan, Private Student Loan and Credit Card Debt Into One Debt Consolidation Loan. – Jane

  “Dear Steve, My husband & I have been married 6 years and have two children. One of us has been in school the entire time until he graduated a few months ago. He has a well-paying job...

  • Posted July 31, 2009
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• Which Debt Should I Pay Off First, Credit Card or Personal Loan? – Sean

  Sean “Dear Steve, I’m a 20 year old college student around $2000 in debt, with two credit cards and one personal loan. What should I pay off first? The credit card with the highest balance or the...

  • Posted July 22, 2009
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• I Just Got My Job Back, and I Am Playing Catch Up on My Bills. – Nicole

  “Dear Steve, I just got my job back, and I am playing catch up on my bills. Between my husband and I, we have about $2800 in credit card debt. I tried calling to get my interest...

  • Posted April 1, 2009
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• I Want My Creditors to Forgive Part of My Debt and Give Me Payments That Are Doable. – Kathy

  “Hi Steve! I lost my job for the second time this past October (economy) and I have both a mortgage and significant credit card debt. I do not want to file for bankruptcy, but I can’t handle...

  • Posted April 1, 2009
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• We Had to Charge Some of Our Daily Expenses to Get By. – Tracey

  “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...

  • Posted March 31, 2009
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• Should I Take Money Out of My IRA to Pay My Credit Cards? – David

  “Hi Steve, My wife is out of work and I was for about a year. We have about 40K in CC debt and there is no way I see to get rid of that. We have 2...

  • Posted March 13, 2009
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• Should I Do an Informal Bankruptcy? – Melissa

  “Dear Steve, I owe 40k in credit card debt. I am a freelance contractor and after five years of working solidly, the work came sparingly this last year. I haven’t been able to pay on the debt...

  • Posted March 5, 2009
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• John is Worried His Debt Will Scare Away His Fiancee

  “Dear Steve, Here is the situation. I have 50K of debt between credit cards and lines of credit and a 20k vehicle loan. When I first met my fiancee, she asked about credit card debt, I was...

  • Posted November 21, 2008
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