Question: Dear Steve, I have a bank loan I failed at making small regular payments on, it’s at about $1000 and will be written off to collections end of next month. I have a lawsuit from another bank for credit card debt I racked up, so far it’s seemed to be in stasis (no letters … Read more
As a student of the history of debt, having lived through debt problems myself, and having founded and run a credit counseling organization, I have a unique view from inside and outside the debt world. If there were mistakes and beliefs to be had, I’ve had them. If there are perceptions about debt, they’ve floated … Read more
Question: Dear Steve, Well I have a 3 fold question or problem I guess you could say. First one is regarding my daughter, Sarah. Sarah has over $60,000 in student loan debt. She graduated, top of her class with a Bachelors in Graphic Design, was out a year and could not find a job. She … Read more
Question: Dear Steve, I am a Navy Veteran, who became a stay at home mom, who came from a line of stay at home mom’s, who was an entitled child who didn’t have to earn or learn anything, because I was just given love, attention, and money when I needed it. I am not a … Read more
Question: Dear Steve, So my boyfriend attended a Boise State University in pursuit of a degree in Art. He was using all of his student loans to pay for living expenses because he was going full-time and also had a toddler. During his last year, his tuition expenses were higher than the loans he was … Read more
Question: Dear Steve, I finally sucked it up and declared bankruptcy in 2012, but that opened the doors of hell since I did it with a paralegal and I lived in a few different states so people started reaching out to me saying I owed this in that. Fast forward to 2014, I tried to … Read more
A recently released study shows that people with credit card debt and overdue bills are much more likely to experience symptoms of depression than those who don’t have such debts, particularly if they are near retirement, unmarried or less educated. The more short-term debt a person had, the more frequently they reported feeling those symptoms. … Read more
“Dear Steve, I’m 27 year old single guy, currently working in an IT company, however these past few months has been a depressing experience, the first few months were fine and assuming that I will stay with the company, I bought a new car. The commute is almost 2 hours (one way). To cut it … Read more
“Dear Steve, I am a college graduate with $30,878 in Stafford Loans and $50,932 in private loans. Now I went to a for profit college and I also do admit that I didn’t take as much time as I should have in researching schools. I went to school for a degree in recording arts. Looking … Read more
“Dear Steve, The past three years have been difficult for me; I was diagnosed with major depressive disorder after a depressive episode that made me unable to attend school or work. Subsequent attempts to return to school were unsuccessful, as were attempts to treat my illness– I would start a semester hopeful, but sooner or … Read more
“Dear Damon, I’m 54 & don’t work due to Fibromyalia & PTSD? I don’t get any disability. I was denied because i don’t have enough credits. My husband is 60 & receives $1474.00 from S.S. Disabilty. He had a stroke in 2007. That is our only income. I was hospitalized 12/2010 from internal bleeding & … Read more
People with problem debt are likely to be depressed. My own study in 2001 found that of those people who reached out for help 39.71% were clinically depressed and another 9.56% identified themselves as moderately depressed. Women tended to be more likely to show symptoms of depression than men. You can read more about this … Read more
“Dear Steve, Took out student loans at 8.5 % interest rate in middle 90’s to enable me to get Bachelors degree to be a teacher, have been making payments off and on since depending upon if I could afford them or not. Have used up all forbearances, etc…options, and am currently in about month 6 … Read more
“Dear Steve, I have seen that there are others who have posted that they have contemplated suicide in order to get out of student loan debt and I can tell you that they aren’t alone. I was laid off twice since I graduated and I can’t afford to pay my loans back. I couldn’t even … Read more
“Dear Steve, My boyfriend was living with me and about 1 week before it was to be our one year, he committed suicide. He survived for two years in a vegative state. He passed away 2 years ago and I am stuck paying his debt that he racked up on my credit card, by buying … Read more